Australian mortgage growth surges

The RBA has released its private sector credit aggregates data for the month of September, which revealed a rebound in mortgage growth:

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

 

Overall mortgage growth was 3.3% in the year to September, rebounding from the all-time low 3.0%.

A breakdown of owner-occupied credit (0.5% MoM; 1.2% QoQ; 5.4% YoY) and investor credit (0.1% MoM; 0.1% QoQ; -0.4% YoY) is provided below:

The below chart shows that quarterly mortgage growth surged in September:

Importantly, the uplift was driven by a rebound in investor mortgages:

Contrary to the monthly APRA data, there appears to be life in the property investor dog yet!

Unconventional Economist
Latest posts by Unconventional Economist (see all)

Comments are hidden for Membership Subscribers only.