Never take your Aussie house price falls for granted. Via APRA this morning comes June lending data. Month on month:
ANZ | CBA | MAC | NAB | WBC | BOQ | BEN | SUN | Total | |
Jun-20 | 0.7 | 0.2 | 1.1 | -0.3 | 0.3 | -0.1 | 1.1 | -0.4 | 0.2 |
May-20 | 0.4 | -0.1 | -2.0 | -0.6 | -0.4 | -0.1 | 0.9 | -0.1 | -0.3 |
Apr-20 | -0.1 | 0.0 | 2.3 | -0.7 | -0.7 | -3.0 | 0.2 | -0.4 | -0.3 |
Mar-20 | -0.5 | 0.0 | 2.3 | -0.6 | -0.4 | 0.1 | 1.3 | -0.4 | -0.2 |
Feb-20 | -0.4 | 0.1 | 2.2 | -0.4 | -0.2 | -0.2 | 0.5 | 0.0 | -0.1 |
Jan-20 | -0.2 | 0.1 | 3.2 | -0.8 | -0.3 | -0.3 | 0.6 | 3.2 | 0.0 |
Dec-19 | -0.2 | 0.3 | 3.8 | -0.5 | -0.2 | -0.4 | 0.9 | -0.4 | 0.0 |
Nov-19 | -0.3 | 0.2 | 3.8 | -0.6 | -0.3 | -0.1 | 0.8 | -0.3 | -0.1 |
Oct-19 | -0.3 | 0.1 | 4.9 | -0.6 | -1.0 | -0.2 | 0.4 | -0.1 | -0.3 |
Sep-19 | -0.6 | 0.1 | -0.2 | -0.7 | -0.5 | -0.6 | 0.3 | -0.1 | -0.4 |
Aug-19 | -0.7 | 0.1 | 3.5 | -0.7 | -0.4 | 0.0 | 0.4 | 0.1 | -0.2 |
Jul-19 | -0.9 | 0.3 | 0.9 | 0.0 | 0.3 | 0.2 | -0.9 | 0.5 | 0.0 |
Jun-19 | -0.9 | 0.3 | 0.9 | 0.0 | 0.3 | 0.2 | -0.9 | 0.5 | 0.0 |
In chart form, all major banks accelerated specufestor mortgage lending sharply in June:

Led, as usual, by Mad Macquarie:

Even the loan stock grew for once:

This is clearly pent-up demand as the economy reopened.
That said, it stands as a clear warning that Australian property speculation is a religion and it will take the kind of severe conditions that are in the offing to smash them down.
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