Credit growth picks up
Business credit growth was a very solid 9½ per cent over the year to September, although it seems to have calmed a little over recent months.
Total credit growth in the Aussie economy was 7.3 per cent over the year, the strongest annual figure since January 2023.
Property investor credit growth picked up again to 0.77 per cent over the month and 7.3 per cent over the year.
Housing credit growth in total picked up to 0.62 per cent over the month - a clear acceleration, and the fastest monthly growth since 2022 - and 6.3 per cent over the year.
As such, the housing credit impulse has accelerated, pointing to faster capital city housing price growth ahead.
Indeed, across the month of October, Cotality's index already points to housing price growth of 1.1 per cent, led by Perth, Brisbane, and Adelaide, with Darwin also booming.
The wrap
Property investors have clearly been getting jiggy again, including some speculative behaviour in regional markets (as discussed on
the Australian Property Podcast in recent times).
Not before time, a few banks have finally cottoned on to some of the more creative borrowing strategies, which make use of trust structures to create 'unlimited' borrowing capacity.
This from one of Australia's largest lenders yesterday...
There's been a plethora of content online about how to circumvent debt to income caps via the use of trust structures in 2025.
This clampdown will keep something of a lid on investor credit growth from the November figures onwards.
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