The RBA has released its private sector credit aggregates data for the month of November, which continued the strong rebound in mortgage growth.
A chart plotting the long-run time series is shown below:
Annual mortgage growth continues to trend higher, but remains low overall at just 3.4%.
However, quarterly mortgage growth has rebounded hard, climbing for three consecutive months:
As shown below, quarterly mortgage growth is being driven by owner-occupiers; although investors have also rebounded:
Another positive indicator for the Australian property market.