Australian Housing credit growth is looking…. well… well it’s been stronger let’s just say that.
Leith van Onselen over at Macrobusiness has sourced the graph below Reserve Bank of Australia, data.
From the article:
Reserve Bank of Australia data ”
Total credit provided to the private sector by financial intermediaries rose by 0.4 per cent over March 2012, after rising by 0.4 per cent over February. Over the year to March, total credit rose by 3.4 per cent.
Housing credit increased by 0.4 per cent over March, following an increase of 0.4 per cent over February. Over the year to March, housing credit rose by 5.3 per cent.
Other personal credit grew by 0.1 per cent over March, after increasing by 0.3 per cent over February. Over the year to March, other personal credit decreased by 1.5 per cent.
Business credit increased by 0.6 per cent over March, after growing by 0.4 per cent over February. Over the year to March, business credit increased by 1.3 per cent.”
TLDR Summary: Australian housing credit growth was flat in March, ’12.
Another quick, related, graph below showing Private Sector Credit Growth from March 1978 to March 2012.