The number of home loans approved for owner occupiers has risen as lower interest rates and improved housing incentives flow through to the market.
Official figures show almost 56,000 loans were granted to owner occupiers in January, in seasonally adjusted terms.
That is 3.5 per cent more than the previous month but below economists' expectations of a 4 per cent rise.
Westpac economist Andrew Hanlan says the rise has been driven by first home buyers, with lending up 60 per cent since August.
"It's certainly clear that housing demand, or demand for housing finance has been in recovery now for five months," he said.
"That comes as no surprise given the change in interest rates and the Federal Government's incentive for first home buyers."
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