Property investment lending points to further price falls

Thursday, 1 October 2020

APRA has released its August lending data which we use to track growth trends in investor loans for property. After a big monthly spike in June as the economy reopened, July and August have both disappointed. Perhaps June was pent-up demand and August will certainly be hit by the Melbourne shock.

Monthly growth for the big eight lenders was precisely zero:

ANZ is throwing out the credit while WBC and NAB are retrenching. CBA is in between.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.