Investor mortgages pull the hand break

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APRA has released its September banking statistics and, whoa, macroprudential just pulled the hand break. Here are the year on year growth rates for the big eight’s investor lending books:

ANZ CBA MAC NAB SUN WBC Total
Sep-15 8.4 7.9 66.3 56.6 4.8 5.2 14.4
Aug-15 10.2 9.7 72.0 57.0 5.6 7.3 16.0
Jul-15 11.7 10.1 79.1 58.0 11.7 11.7 18.1
Jun-15 12.0 10.2 81.6 14.0 11.1 9.9 11.6
May-15 11.8 9.9 86.8 14.1 11.6 10.0 11.5
Apr-15 11.7 9.5 74.8 13.9 12.1 10.3 11.3
Mar-15 11.4 9.3 79.3 13.6 12.1 10.4 11.3
Feb-15 11.1 9.2 71.0 13.3 14.1 10.2 11.0

If you pull out NAB’s large portfolio adjustment three months ago it’s lending is down to 11.6% and the total for the big eight is down to 8.2% growth:

Capture 9
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Even the Macquarie free radical is coming in now. Only NAB needs the whip out.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.