The average home loan size across Australia was A$624,383 in December – a big jump from $608,448 in November and the highest average loan size ever recorded in the ABS data set, according to the Bureau’s latest lending data. The increase reflects the 10 per cent increase in dwelling values in 2023 (according to CoreLogic data). But like the change in dwelling prices, which varied across the country, the trend in loan sizes was not uniform. The average loan size in New South Wales in December was $785,405 – the third highest figure recorded for the state. The average in Victoria was $613,018, which was well below the peak of $643,000 in May 2022. The average loan size is now higher in the Australian Capital Territory, at $622,204, than in Victoria. Buyers looking for more affordable properties should head to the Northern Territory, where the average loan size was $437,572, or Tasmania ($462,661). The ABS data show that the total value of new housing loan commitments fell 4.1 per cent in December. This is a reversal after several months of gains. The A$26.3 billion of new lending was up 11.7 per cent over the 12 months to December.  The value of new lending to owner occupiers was down 5.6 per cent month-on-month and but up 7.4 per cent over 12 months. New lending to investors was down 1.3 per cent month-on-month but up 20.4 per cent over 12 months. The value of external refinancing fell 1.6 per cent to $17.1 billion month-on-month and was down 12.1 per cent over 12 months. The value of new lending to first home buyers fell 5.5 per cent month-on-month but was up 21 per cent over 12 months. The latest Reserve Bank data show that lenders’ mortgage balances grew by 0.4 per cent in December and by 4.1 per cent over the 12 months to December. The annual growth rate has dropped from 6.3 per cent at the end of 2022. Owner occupier loan balances were up 0.4 per cent month-on-month and 4.7 per cent over 12 months. Investor loan balances rose 0.2 per cent month-on-month and rose 2.9 per cent over 12 months. APRA figures for December show that with system growth at 4.5 per cent annualised over the three months to December, ANZ leads the big banks with growth of 7.7 per cent annualised over the three months, Westpac grew 5 per cent annualised and NAB 4.7 per cent. Commonwealth Bank returned to growth but was still losing share, with growth of 2.2 per cent annualised over the three months. Bendigo and Adelaide Bank, Bank of Queensland and AMP Bank all had books in runoff over the three months to December. Macquarie Bank and ING had the highest growth rates over the December quarter – Macquarie up 12.8 per cent annualised and ING 12.2 per cent.