The Reserve Bank of Australia (RBA) has just released its latest Financial Aggregates data.
It shows a overall debt rose 0.4% in August for a 5.1% annual growth rate compared to 3.3% a year ago.
Housing debt accelerated 0.6% for an annual rate of 6.7% compared to 4.7% a year ago.
Owner-occupied seasonally adjusted debt was $918.8 billion in August compared to $914.7 billion in August
Business credit was unchanged in August and the annual rate was 3.2%.
People appear to be avoiding personal debt. This was steady at 0.2% for an annual rate of 1.1%.
But the big news, which will worry the Reserve Bank and APRA and add to calls for macro-prudential rules, is the acceleration of the 12 month rate of growth of investment loans to 9.2%. That is the highest level since April 2008.
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