Australian home loan approvals and values surged in Q4 2024, despite a drop in New South Wales.

In Q4 2024, Australia saw a 2.2% rise in new home loans, totaling 83,206 approvals with a 4.2% increase in value to $54.8 billion. The average loan size rose to $665,978. Despite a 2.3% drop in New South Wales, demand grew nationwide, reaching $205.7 billion in 2024, a 13.6% jump from 2023. Queensland, Victoria, and New South Wales saw the biggest increases in loan value. Additionally, home loan refinancing rose by 12.0% in the quarter.

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