• Home loans m/m, -1.9%, expected +0.7%, prior was 1.4%, revised from +1.1%
• Investment lending 2.9% m/m, prior was 2.0%, revised from +1.5%
• Owner-occupied loan value -1.5% m/m, prior was 2.2%, revised from +1.9%

• Despite the soft finish, 2013 was a strong year for approvals which rose 14.1%
• value of investor lending in December, up 2.9% m/m to finish up 40.7% on the year
• Despite a 3% decline in approvals to first home buyers
• First home buyer activity rose a touch in the December month but remains at very low levels by historical standards
• The number of loans for construction was also a little more positive, up 0.4% m/m, 14.5% y/y