The ABS released its lending finance data today.
Not much of note or interest except for the below chart which is pulled from the time series spreadsheets.
It shows how loans for investment purposes in New South Wales (read: Sydney) have taken off with gusto.
As you'd expect the monthly data is fairly volatile but the chart shows that the value of investment loans has doubled since January 2012 in NSW.
Remarkably, more than half of loans are now for being taken out for investment purposes rather than homebuyers.
As noted previously there is an element of first-timers buying investments as their first property, but that said, you'd be hard pushed to argue that the trajectory of the below chart represents anything other than an investor stampede which is pushing up prices in Sydney.