Stronger Q2 housing finance Australia: Investor & owner-occupier lending turn positive

Stronger Q2 housing finance Australia: Investor & owner-occupier lending turn positive

Australia Q2 housing finance

• Investor loan value (q/q): +1.4% (prev -0.3%)

• Owner-occupier loan value (q/q): +2.4% (prev -2.5%)

• Total home loans value (q/q): +2.0% (est +2.0%, prev -1.6%)

Stronger Q2 housing finance data in Australia

• with both investor and owner-occupier lending turning positive after prior declines
• points to a rebound in mortgage demand

The lift in total home loans, matching expectations at +2.0% q/q, may temper expectations for aggressive RBA easing, at the margin, as housing activity shows signs of recovery. I suspect this won't have too much RBA impact though.