Queensland props up otherwise grim lending, building activity nationally
Australians are borrowing less and builders are seeing a fall in dwelling approvals as households tighten their belts to contend with high interest rates.
Australians are refinancing their loans and even making a move back to fixed rate mortgages as they wrestle with high interest rates. (Image source: Shutterstock.com)
Investors continue to pour into the Queensland property market but elsewhere in the country the picture is less rosy.
Nationally, the value of new loan commitments for total housing fell 1.2 per cent to $24.2b, after a fall of 1.6 per cent in June. It was 14.1 per cent lower compared to a year ago.
The picture was worse for owner-occupier housing, which fell 1.9 per cent to $15.6b and was 17.5 per cent lower compared to a year ago. Investor hou…
