The latest APRA monthly banking stats to end August 2016 shows that total lending for housing rose 0.53%, equivalent to an annualised rate of 6.41%, well ahead of inflation and wage growth. Total loans are now $1.487 trillion, up another $7.9 billion in the month.
Within that, owner occupied loans rose 0.63% (up $6bn) and investment loans rose 0.35% (up $1.8bn). Investment loans comprise 35.55% of loans on book, down just a little from last month.
Looking at the individual banks, Westpac grew their portfolio the largest, up $2.5 billion, followed by CBA. ANZ reduced their investment portfolio – perhaps thanks to restatement of loan purpose? Bendigo dropped their portfolio of owner occupied loans in the month.
Here are the current relative shares.
Finally, here is the investment growth, by lender, which is running on a 3 month annualised basis at 2.6%. We see some of the majors growing their investment loans faster than system but below the theoretical 10% speed limit, which has little use currently. A couple of players are running well over however.
The RBA data, out soon will tell use more about the overall portfolio, including non-banks, and also about the restatement adjustments.
