Record December lending

In December 2020 home lending jumped to $9.6 billion, up from $9.2 billion in November, and $6.5 billion in December 2019.

The figures are yet more evidence of the surging housing market, fuelled by record low interest rates, relaxed loan to value ratio restrictions, and a shortage of listings. 

Investors borrowed more than $2.4 billion, the most since May 2016, when $2.48 billion was lent to landlords. 

Investors received $822 million on high LVR terms, over 70%, down from $844 million the month before, but up from just $196 million in December 2019.