The non-bank sector continues to struggle for market share, ABS figures released in December reveal.
During October, the number of owner-occupied dwellings financed by non-banks fell by 13.5 per cent, driven by a 20.3 per cent fall in financing by wholesale lenders.
In contrast, the banks recorded an increase in market share with the number of bank-financed owner-occupied dwellings in October increasing by 2.3 per cent.
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The total value of owner-occupied housing commitments (seasonally adjusted) also rose 1.1 per cent during the month according to the ABS – up $169 million. An increase in home purchases and new dwelling constructions were responsible for the increase.
Over the September to October period, investment housing commitments also grew by 2.9 per cent, up $195 million. This was attributed to an increase in the construction of dwellings for rent or resale.
First home buyers meanwhile increased their share of the owner-occupied market, with first home buyer commitments climbing from 17.7 per cent in September to 18.7 per cent in October.
Fixed-rate loan commitments also rose from 19.2 per cent in September to 21.0 per cent in October.
