Borrowing for property investment is starting to slow

A builder works on a house under construction in Sydney. Photo: Getty Images

The value of owner occupied housing finance rose 5.5% in June to $18.558, according to the Australian Bureau of Statistics.

However, the value of investment housing loans fell 0.7% to $13.507 billion.

The number of home loan approvals increased 4.4%, below expectations of a 5% rise. In June, there were 52,672 approvals compared to 50,471 in May.

The total value of dwelling finance commitments, excluding alterations and additions, rose 2.8% in seasonally adjusted terms.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.