The RBA released their September financial aggregates earlier today with total credit expanding 0.5% leaving the annual increase at 5.4%
The RBA released their September financial aggregates earlier today with total credit expanding 0.5% leaving the annual increase at 5.4%. Housing credit made up a bulk of the expansion with an increase of 0.6% reported. While total housing credit is now up 6.8% on year, housing investment lending is accelerating even faster with a gain of 9.5% reported. This is the fastest percentage growth since April 2008 and will no doubt concern the RBA who have been watching developments in this area closely, particularly in Melbourne and Sydney. Total housing investment credit hit another fresh record peak while the level of housing investment credit as a proportion of all housing credit rose to 34%, again another all-time record high. (VIEW LINK)
David is a Director of Scutt Partners Pty Ltd and has successfully worked in the financial services markets over the past 12 years with both large and smaller banking groups. He has provided strategic financial analysis for currency and interest...
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