Australian mortgage demand cools

Friday, 1 October 2021

The Australian mortgage market fell in August amid lockdowns, according to new data released today by the Australian Bureau of Statistics (ABS).

The total value of new mortgage commitments fell by a seasonally adjusted 4.3% in August 2021 to be up 47.4% year-on-year:

As shown above, owner-occupiers have driven mortgage demand this cycle, whereas investor demand remains just below its 2015 peak.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.