The ABS released its Lending Finance data for February today.
Owner occupier lending increased by 1.9% seasonally adjusted, which is a strong upturn..
Lending increased across the board for personal finance and lease finance, and slipped for commercial lending.
But most of the figures were just noise as compared to the real story: Sydney property investors are setting records for amounts borrowed which is set to send prices to new record heights.
Investor finance commitments have increased in New South Wales (read: Sydney) by 55% over the past year.
With monthly data tending to be volatile, rolling 12 monthly investment mortgages showed a massive increase of 41% (click chart):
With investors making up more than half of the market at present and lending finance in NSW having increased by well over half in the past 12 months (the chart appears to be turning almost exponential) it stands to reason that the market is booming.
By way of contrast, investor finance commitments in other states remained relatively muted.
In South Australia, investor loans have not increased in more than half a decade.
Other states have shown an upturn in investor lending, albeit in a far more sedate fashion.