“Mortgage growth busts as house prices boom”

“A sharp divergence has arisen between mortgage growth and Australian dwelling values.

On Wednesday, the Reserve Bank of Australia (RBA) released its mortgage credit growth data for April, which revealed that the value of outstanding mortgages grew by only 1.0% over the quarter, which is the equal lowest rate since October 2020:”

Owner-occupier mortgage credit growth continues to decline, whereas investor credit growth has begun to rebound:

Actual sales volumes are low, however the homes that are selling are fetching strong results.

To read the full article, click here

Article Source: MACROBUSINESS