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Friday, 14 January 2022

Lending rebounds in November

Lending up

Lending for housing increased 6.3 per cent in November, well ahead of survey expectations.

The dollar value of lending to investors continues to trend higher, to the highest level since 2015, which is probably just as well given that asking rents have been surging. 

The rebound was in part driven by the reopening in Sydney and Melbourne. 

First homebuyer numbers remained relatively elevated. 

It was a pretty strong release, overall, but it's not likely to signify a renewed boom in lending, given that interest rates are expected to rise from here.