Investment loans up, owners down

According to figures released by the ABS, home loans for investment property increased in January 2010, but dropped for new and existing dwellings.

• Home loans for new dwellings dropped by 6.4% in January 2010 owing to a 13.2% drop in home loans for hte purchase of new dwellings and a 3.9% drop in home loans for the construction of new dwellings
• Lending for the construction of new dwellings fell for the 3rd straight month in January 2010
• First home buyer owner-occupied home loans fell to 20.1% in January 2010, from a high of 28.5% in May 2009
• Home loans fell in NSW by 7.3%
• Home loans fell in VIC by 3.7%
• Home loans fell in QLD by 9.6%
• Home loans fell in SA by 5.5%
• Home loans fell in WA by 11.1%
• Home loans fell in TAS by 8%
• Home loans fell in ACT by 4.3%
• Home loans in NT gained 3.6%