Acceleration!
Housing credit growth picked up for a 4th consecutive month in November to 0.43 per cent, and is now rising over the year.
The credit impulse for housing in now accelerating.
Housing price growth has run ahead of expectations all year, due to very low supply.
Investor credit growth remained very sluggish at 0.26 per cent in November (as it has been all year).
The rental crisis will continue to worsen on these kind of numbers - it's just been made too hard and too unattractive to be an investor over the past decade so rental vacancies are heading to all-time lows.
Overall credit growth over the year slowed marginally to 4.67 per cent.
With low supply and record high population growth, the outlook for property in 2024 is generally optimistic, with interest rates and lending likely to become a bit easier in the second half of next year.
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