The most recent RBA data on private sector credit showed that in the year to September housing credit was up 6.6% year-on-year.
The annual growth rate has been steady since May, though it has accelerated marginally since this time last year and is still significantly outpacing income growth.
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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.
