The value of owner-occupier loans rose 0.4% in November, while the value of investment loans fell for the sixth consecutive month, easing 6.1%.
The number of owner-occupier home loans fell 0.5% in October. Loans to build homes fell for the fist time in three months, easing 0.4% for the month.
The data does not suggest a substantial pullback in home lending, said Craig James, Chief Economist CommSec.
However, there are clear signs that activity levels are easing.
"The value of investor loans has fallen fox six consecutive months and is now down almost 9% on a year ago. In effect the latest results provide an early indication of how the first half of 2016 may play out when it comes to the housing sector," said James. "Tighter lending regulations will continue to take the exuberance out of the property market."
The data suggests that first-home buyers are increasingly being locked out of the market. The proportion of first-time buyers in the home loan market fell from 15.4% to 15.1% in October.
Investor housing demand continues to bounce back