APRA is out with October bank data and if the major banks are lending to specufestors then they are returning the dough even faster:
The only reason there’s year on year growth is the APRA adjustments to definitions that brought a bunch of new loans into the category in July:
Othewise, since then month on month keeps sinking:
The notable exception is Mad Macquarie which has grown its specufestor book by 50% in six years despite a macroprudential intermission:
This data is loan stock so it doesn’t tell us about house price movements much in the short term. What it does say is that bank back books for investors are still shrinking and that means the delveraging pulse is alive and well as loans are repayed faster than they can be approved.
Bad for bank profits.