The last piece of the finance data, from the ABS shows lending finance for October 2015. Two things of note (despite the noise in the data, as we have already discussed), first, investment housing lending is on the slide (down 3%), offset by a rise in owner occupied lending (up 2%), so overall lending for housing contained to rise a little. Second lending for business rose (up 1.3%). Investment loans were down to 36% of all housing, and lending for commercial (other than for property investment) rose from 43.8 to 44.2%.
Data for NSW, which is original data (no adjustments for trend or seasonality), showed a 5% rise in construction finance for investors, offset by a 33% fall in investment for existing property. From this, it looks like the investment property party may just be over.
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