APRA: Investor mortgages continue to stall

Via APRA December monthly banking statistics. Here are the top eight lender’s investment lending numbers:

	ANZ	CBA	MAC	NAB	WBC	BOQ	BEN	SUN	Total
Dec-17	2.0	-2.9	-5.0	5.8	5.9	-1.5	1.0	0.3	2.2
Nov-17	2.4	-2.0	-6.8	5.4	6.2	-3.0	1.8	1.2	2.5
Oct-17	2.5	-0.8	-8.0	5.4	6.7	-2.9	3.6	1.5	3.0
Sep-17	2.5	-0.1	-8.6	5.7	7.1	-3.8	5.7	0.6	3.4
Aug-17	2.4	0.9	-8.3	5.8	7.4	-4.5	6.2	2.0	3.8
Jul-17	2.2	1.9	-6.3	5.9	7.4	-5.7	7.9	0.7	4.0
Jun-17	1.8	5.7	-6.6	6.0	7.2	-6.3	8.8	-0.3	4.9
May-17	0.9	7.3	-6.6	5.3	6.7	-6.5	3.3	-0.1	4.8
Apr-17	0.2	8.2	-6.0	5.1	6.1	-7.2	3.7	1.5	4.7
Mar-17	-0.4	8.4	-6.3	4.9	5.7	-6.9	4.4	2.8	4.6
Feb-17	-1.1	8.4	-6.1	4.6	5.5	-6.4	5.6	5.2	4.4
Jan-17	-1.7	7.9	-5.7	4.6	5.1	-3.2	4.9	4.5	4.2
Dec-16	-1.7	7.2	-5.2	4.5	5.1	-0.8	3.6	3.8	4.0

Only NAB and WBC are do much of anything. The year on year is sinking fast, by chart:

Month on month was slightly up but appears to be bumping along the bottom rather than taking off:

	ANZ	CBA	MAC	NAB	WBC	BOQ	BEN	SUN	Total
Dec-17	0.1	-0.1	1.0	0.9	0.4	1.2	0.4	-0.2	0.3
Nov-17	0.2	-0.4	0.5	0.4	0.3	-0.6	0.1	0.1	0.1
Oct-17	0.2	0.0	0.1	0.3	0.2	0.2	-0.2	0.7	0.2
Sep-17	0.1	-0.3	-1.0	0.3	0.5	0.1	0.3	-1.7	0.1
Aug-17	-0.2	-0.4	-3.2	0.4	0.6	0.1	-0.5	0.9	0.1
Jul-17	-0.1	-3.0	-0.2	0.2	0.6	-0.4	-0.4	1.0	-0.6
Jun-17	0.4	-0.4	0.0	0.7	1.1	-0.5	-0.9	1.5	0.4
May-17	0.3	0.1	-0.8	0.6	0.8	0.3	0.2	0.5	0.4
Apr-17	0.3	0.3	0.3	0.4	0.4	0.1	0.2	-0.2	0.3
Mar-17	0.5	0.2	-0.2	0.6	0.4	0.0	0.0	-2.4	0.3
Feb-17	0.3	0.4	-0.8	0.5	0.3	-1.4	0.9	0.0	0.3
Jan-17	-0.1	0.6	-0.7	0.5	0.2	-0.7	0.9	0.2	0.3
Dec-16	0.5	0.8	-0.9	0.5	0.7	-0.4	1.2	0.8	0.6

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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.