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Borrowing increases across the board

Staff Reporter 1 minute read

Lending finance data released by the ABS yesterday confirmed the pace of home borrowing activity is continuing to pick up.

Housing finance for owner occupation rose 2.3 per cent, seasonally adjusted, in January to reach $13.989 billion.

Commercial finance also recorded a strong increase in activity in January edging up by 6.5 per cent to $31.029 billion, which recovered a large chunk of the 10.4 per cent decline recorded last November.

Personal finance inched up by a small 1.4 per cent as borrowers look to reduce their personal debt as a result of economic and unemployment uncertainty.

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Borrowing increases across the board
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