OK, so there was a tiny increase in investor loans in October.
But seriously...it was the weakest 3-month period for half a decade for investment lending.
This now puts investment housing loans as a share of ADI loans at just 33.36 per cent of the total.
This measure now sits well below the average for the past dozen years (33.9 per cent).
And that's despite a surge of immigration over that period into the major capital cities, greatly increasing the demand for rentals.
And that's despite a surge of immigration over that period into the major capital cities, greatly increasing the demand for rentals.
And with Chinese investors shot out of the market by surcharge taxes the result will almost certainly be be an epic drop in apartment construction, given that significant apartment projects don't get built without investors.
AiG's latest reading for apartment construction collapsed to 31, whereby a reading of under 50 denotes contraction.
Mmm...oh dear!
AiG's latest reading for apartment construction collapsed to 31, whereby a reading of under 50 denotes contraction.
Mmm...oh dear!
