Investor credit pulse is picking up, despite sellers

1 month ago 2

Solid credit growth

Business credit growth was very solid in August at 0.7 per cent for the month, and 7.7 per cent for the year.

Total credit growth for the Aussie economy was 5.7 per cent over the year.

Surprisingly, property investor credit growth was 0.44 per cent in August, and increased to 3.9 per cent over the year...despite a lot of property investors exiting the market.

As such, total housing credit growth was 5 per cent over the year, for the highest annual level in 15 months.

Housing credit growth was reported as being 'weaker' at 0.4 per cent in August, but at 0.448 per cent this was a tiny fraction away from rounding up to 0.5 per cent (essentially, there was very little change from the July figure).

Housing prices have slowed a little of late as the spring selling season brings new supply online, yet the housing credit impulse remains very solid ahead of looming interest rate drops.

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