Investor mortgages hit brick wall
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APRA has released its October banking statistics and the news for investor mortgages is dire:
| ANZ | CBA | MAC | NAB | SUN | WBC | Total | |
| Oct-15 | 7.1 | 6.1 | 48.5 | 55.6 | 5.2 | -6.0 | 12.4 |
| 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 |
| Jan-15 | 11.1 | 9.2 | 73.1 | 13.0 | 12.5 | 10.4 | 10.9 |
| Dec-14 | 10.9 | 9.4 | 75.2 | 12.4 | 11.6 | 10.5 | 10.9 |
| Nov-14 | 10.8 | 9.4 | 81.8 | 11.6 | 11.3 | 10.5 | 10.8 |
Total year on year growth has fallen to 12.4%but this number is being massively distorted by portfolio adjustments the latest of which was $15b disappearing from WBC’s investor loans book. To see the real growth rate look at ANZ and CBA. Here’s the raw data:
| ANZ | BOQ | BEN | CBA | MQG | NAB | SUN | WBC |
| 82718 | 11166 | 11292 | 128396 | 9253 | 94384 | 11701 | 134938 |
| 82911 | 11062 | 11266 | 129616 | 9264 | 94019 | 11800 | 149687 |
| 83426 | 11056 | 11232 | 130791 | 9230 | 93404 | 11856 | 151359 |
| 83930 | 10833 | 11168 | 130419 | 9242 | 93209 | 12510 | 156296 |
| 83508 | 11110 | 11128 | 129719 | 9017 | 66637 | 12397 | 152499 |
| 82482 | 10658 | 11147 | 127904 | 8802 | 65759 | 12335 | 150869 |
| 81665 | 10671 | 11110 | 126268 | 7856 | 65017 | 12288 | 149755 |
| 80824 | 10645 | 11061 | 125088 | 7688 | 64229 | 12214 | 148784 |
| 80110 | 10771 | 10825 | 124156 | 7029 | 63542 | 12303 | 147576 |
| 79540 | 10684 | 10773 | 123547 | 6784 | 63026 | 12026 | 146719 |
| 78797 | 10698 | 10730 | 122851 | 6594 | 62287 | 11766 | 145811 |
| 78005 | 10629 | 10728 | 121999 | 6399 | 61449 | 11534 | 144595 |
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ANZ and CBA fell on the month. NAB barely grew.
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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.
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