Why house prices are rising more than credit

By Leith van Onselen

Just over a year ago, Victoria’s Department of Sustainability and Environment (DSE) was closed and amalgamated into other departments, and with it I thought its excellent data on the number of housing transfers and mortgage lodgements/discharges had been lost.

Searching the Victorian Government’s database last night, I stumbled upon this same data on the Department of Transport, Planning and Local Infrastructure (DTPLI) website, which shows a massive surge in the number of mortgages and transfers over the past year 18 months (see below charts).

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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.