Sydney property prices are on a tear and investors appear to be driving that market.
But the latest housing debt data, released by the RBA this morning, for February, highlights that it is investors all over Australia who are borrowing to invest.
The RBA data showed that the total amount of debt (they call it credit) for Australian housing has hit another new all-time high of $1.440 trillion dollars.
That’s up $95.7 billion, 7.1%, over the February 2014 balance. But it is “credit for investor housing” which is doing a lot of the heavy lifting with a 9.2% rise to $495 billion.
Now most of the debt held for Australian housing is still for owner occupiers but investor debt has now hit a new record of 52.36% of owner-occupier debt.
Here’s the chart.
Business Insider Emails & Alerts
Site highlights each day to your inbox.