Australia: Housing credit growth still trending lower – ANZ

Analysts at ANZ note that the Australian private sector credit growth was steady at the headline level in January as the total private sector credit growth was steady at 0.2% m/m.

Key Quotes

“The annual growth rate slowed to 4.3%, from 4.4%.”

“Housing sector credit growth slowed to 0.2% m/m (from 0.3%). This put annual growth at 4.4% – the slowest since 2013. Investor credit growth was steady at 0.1% m/m (and 1% y/y). Owner-occupier credit growth slowed to 0.3% (from 0.4%), with annual growth of 6.2%.”

“Business sector credit growth was steady at 0.3% m/m. Year-on-year growth was 5.2%, improving on December’s 4.9% rise.”