Yesterday the ABS reported a very strong upward trend in housing finance over the past year:
Banks competing for market share
Added to the above it appears that the major lenders are now hotting up competition for business.
Going forward ANZ has pledged to move its lending rates independently of the Reserve Bank, and indeed it already has hiked its rates 'out of cycle' twice, by 6 basis points each time.
With auction clearance rates hotting up nationwide, and notably in Sydney and Melbourne, it looks likely that this year will be a good one for Australian property.