Ex-refinancing, investors in NSW are now accounting for nearly 50 per cent of loans again.
No other state comes remotely close to that, even Victoria.
Following last year's macroprudential intervention, the value of property investor loans is now higher than a year ago in New South Wales, Victoria, Queensland, and South Australia, and activity looks to be rising again.
This means that as weaker results start to drop off, when plotted in rolling annual terms, the investor loans chart should be starting to turn up again.
And, so it is...
The increases may look to be moderate to date in rolling annual terms,.
But overall stock levels are well down on last year, hence the pressure on auction clearance rates in inner-suburban areas.
Sydney recorded a preliminary auction clearance rate of 80 per cent today, with the median auction price running as high as $1,222,500.
It's another leg up.
Live stream of a Sydney auction in Ashfield today.