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!

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