Sydney housing speculation reaches the absurd (members)

Advertisement
ScreenHunter_11 May. 06 12.08

By Leith van Onselen

Just when you thought the speculator frenzy that has engulfed Sydney’s housing market couldn’t get any more crazy, today’s Lending Finance data for May, released by the ABS, has once again smashed all records, with both the value and proportion of mortgages going to New South Wales investors surging to another all time high.

As shown below, the value of investor loans in New South Wales (read Sydney) continues to rocket, with Melbourne – the second hottest market – also experiencing strong growth:

ScreenHunter_3294 Jul. 14 11.51
Advertisement

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.