Investors are rushing back into the market with the latest ABS lending figures showing almost $12 billion in investment loans were written in August. This is a 1.4% increase on the previous month and 34.2% higher than at the same time in 2023.

ABS head of finance statistics, Mish Tan, says the value of investor loans is nudging closer to its previous peak in January 2022. The value of owner-occupier loans also increased in August, up by 0.7% to $18.7 billion, 16.8% higher than August 2023.

Queensland is the strongest state for investment loans with the value of new commitments up 7.9% during the month, followed by South Australia, 5.1%. The ACT was the only other State where the value of investment loans rose, it is up by 0.4%.

In Tasmania it fell by 9.1%, Western Australia is down by 8.3%, Northern Territory, -8.1% and Victoria – 2.7%. New South Wales has been unchanged since July. “Queensland rose by just over 40 per cent in the past 12 months. This $2.0 billion rise was more than any other state”, Tan says.