KABOOM: Australian Investment Lending Is Still Surging

Getty/Robert Laberge

The ABS has released the lending finance figures for April this morning which showed a seasonally-adjusted fall in personal finance of 2.2%, a big spike in commercial finance of 5.8% and a massive 20.3% fall in leasing.

But it’s the housing data that holds most interest as the recent fall in the rate of house price growth has suggested some cooling in the market.

So it was somewhat surprising that housing for owner occupation rose 1.4% seasonally, with purchases for rent or resale up 1.9%.

Indeed, the loans written in April for “secured housing – construction & purchase of dwellings” hit an all time high of $16.9 billion in April.

Source: Cameron Kusher via Twitter

Cameron Kusher tweeted this great chart on the state based trend in investment lending highlighting that “The value of investment finance commitments are trending up in each state but NSW is going KABOOM!”

Kaboom indeed!

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