Property investor lending stalls out

Via APRA’s February banking statistics, investment mortgage lending was up just 0.1% month on month in February and 1.7% year on year. Here’s the raw data for the big eight:

	ANZ	CBA	MAC	NAB	WBC	BOQ	BEN	SUN	Total
Feb-18	-0.3	-0.1	1.6	-0.1	0.5	0.5	0.1	0.0	0.1
Jan-18	-0.1	-0.1	1.3	-0.8	0.3	0.6	-0.1	-0.3	-0.1
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

Only WBC, BOQ and MQG are competing at all and this is pre-RC. And year on year:

	ANZ	CBA	MAC	NAB	WBC	BOQ	BEN	SUN	Total
Feb-18	1.4	-4.0	-0.7	4.0	6.3	1.5	-0.7	-0.1	1.7
Jan-18	2.0	-3.6	-3.0	4.5	6.1	-0.3	0.0	-0.2	1.9
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

Plus the chart:

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

Share

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.