Australia’s love affair with mortgage debt continued to march ahead in 2015, according to the latest data from banking regulator APRA.
APRA’s quarterly Authorised Deposit-taking Institution (ADI) Property Exposure report for the December 2015 quarter showed total residential mortgage debt stood at $1.384 trillion. That’s growth of 2.2% for the quarter and 8.8% for the year to the end of December.
At $1.384 trillion total outstanding debt has risen 218% from APRA’s reported $635 billion as at March 2008 when its published data series begins.
APRA’s data also showed that the number of loans and average loan size continued to grow in 2015.