Demand for housing loans dips: ABS

Demand for home loans dropped in February, according to the Australian Bureau of Statistics (ABS).

ABS data showed the total number of home loans granted in February fell 2.5%, compared to January.

In seasonally adjusted terms, the number of loans for owner-occupied housing fell 2.5%.

Total housing loans by dollar value slid 1.3% in February to $20.295 billion.

Loans were expected to have risen by 5%, according to CommSec analysts.

The number of first-home-buyer loans, as a percentage of total owner-occupied housing, fell to 17.2% in February from 20.3% in January.