Australia: Investors rush to housing market in August – ANZ

Sandeep Kanihama FXStreet Contributor

Analysts at ANZ note that Australian investor lending was up 5.7% m/m in August ex-refinancing, the second-strongest monthly result since May 2015 and a continuation of investor demand after a 4.7% m/m result in July 2019.

Key Quotes

“Annual growth in investor lending is still sharply negative (-13.0% y/y to July), however this is the smallest negative result in almost two years.”

“Owner-occupier lending grew 1.9% m/m in August ex refinancing. Annual growth is still slightly negative (-1.7% y/y), but it is the smallest negative result since June 2018, when y/y owner-occupier demand growth was still positive.”

“Regulatory easing in July (APRA relaxed the 7%+ floors on mortgage serviceability) has heightened the effects of rate cuts, by allowing lower rates to more directly affect serviceability assessments. Optimism in the housing market following a sharp uptick in Sydney and Melbourne prices may have also spurred on extra demand from investors.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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