Australian banksAustralian Property

Aussie mortgage growth scrapes along the bottom

Leith van Onselen
Monday 31 August 2020
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The Reserve Bank of Australia (RBA) has released its private sector credit aggregates data for the month of July 2020, which reveals that mortgage growth continues to hover near record lows:

A chart plotting the long-run time series is shown below:

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Overall mortgage growth was 3.1% in the year to July, a fraction above all time lows (3.0%).

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.