While borrowing an average of $200 a month from family and friends, Australians at the same time have toned down their demand for various types of credit.

The largest slump was suffered by credit cards which declined 8 per cent. Personal loan also dipped 1.4 per cent, but mortgages slightly inched up 1.5 per cent. Across all types of credit, demand went down 4.8 per cent.

The findings were made in the quarterly report of Veda, a credit research company, which released the study on Tuesday.

A Veda spokesman explained the hike in mortgage applications as indicators that housing demand was going up with a potential for increases in house prices. Turning points in mortgage inquiries typically take place one to three quarters ahead of major changes in house prices, the spokesman added.

"Media mortgage inquiries are closely related to the number of housing finance approvals so this is a trend to watch, particularly if you are hoping for a future pick-up in house prices," the spokesman said.

Among the Australian states and territories, Victoria logged one of the highest drops in demand for credit card at 8.8 per cent. Rather than use credit cards, Australian households use debit cards which tap into their existing transactions.

However, mortgage demand between states showed no significant differences.

"Australian households have spent the post-GFC period firmly in saving rather than spending mode, and the results show consumers are still cautious about taking on credit," the spokesman added.

Another study released by Commonwealth Bank on Monday found that the national personal debt level of Australians reached $1.6 billion. The amount was just to tide them over the next payday.

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