Australian Property

Mortgage credit growth remains soft

Leith van Onselen
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The Reserve Bank of Australia (RBA) has released data on outstanding mortgage debt, which rose only 0.31% over the month of July to be up 1.0% over the quarter.

Quarterly mortgage credit growth

Owner-occupier mortgage credit growth rose by 1.1% over the quarter, whereas investor mortgage credit growth rose by only 0.7%:

Quarterly credit growth
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Annual mortgage credit growth has fallen to 4.5%, with owner-occupier growth falling to 5.1% and investor mortgage growth falling to just 3.2%:

Annual mortgage growth

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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.