Yesterday’s housing finance data for September, released by the ABS, revealed a housing market that has become even more reliant on investors to generate growth.
As shown in the next chart, the near parabolic growth of investor mortgages continued in September, up 29% over the year and comprising an unprecedented 47.8% of total housing finance commitments (excluding refinancings) – exceeding the mid-2004 (“bubble”) peak of 46.4% (see next chart).