Increased demand from owner-occupier and investors have led to an improved home loan value in November.

Latest figures from the Australian Bureau of Statistics (ABS) revealed that the value of Australian home loan lending jumped for a second consecutive month in November, thanks to the boost in owner-occupier and investor demands.

According to the statistics bureau, total lending value grew by 2.3% to $33.51 billion. According to a report from Business Insider Australia, this was the third-highest monthly total on record, and only slightly lower than the $33.85 billion recorded in August.

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The growth in home loans was given a boost by lending to owner-occupiers, which saw a 2.7% increase to $21.32 billion.

Excluding refinancing, new lending grew by 2.7% to $15.16 billion, a little less than the record mark of $15.17 billion three months earlier. Over the year, new owner-occupier lending managed to increase by 11.5%.

Refinancing also saw a positive growth in the same period, growing by 2.7% over the month to $6.16 billion. However, in year-on-year terms, refinancing value feel by 2.8%.

Investor lending extended its 1.8% growth in October, recording another increase of 1.5% to $12.19 billion.

However, the dollar value of investor lending went down by 8.3%, reflecting the efforts of the Australian Prudential Regulation Authority to ease investor activity in the housing market.​​​​​​​

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