APRA investor mortgages go nowhere fast

Monday, 3 May 2021

Those looking for any kind of house price relief would do well to track APRA’s monthly mortgage data. In particular, the series on household property investment is revealing about when APRA will move to slow the mortgage market. The news is: not in a hurry.

The simple fact of the matter today is that mortgages are being repaid at such a rate that growth in new issuance is barely able to shift the composition of bank mortgage back books.

Annual growth is accelerating in the big four but its largely base effect:

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

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.