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The Australian mortgage market has continued its record run, according to new data released today by the Australian Bureau of Statistics (ABS).
Total mortgage commitments (excluding refinancings) rose another 10.5% in January to be up a whopping 44.3% year-on-year.
This growth was driven by owner-occupiers, where mortgage commitments rose by 10.9% over the month to be up 52.3% year-on-year.
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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.