• 14/06/2024

Housing credit growth lowest since records began

Matthew Cranston| The New Daily| 29 March 2019


Credit growth for housing has shown a mild recovery in February but the annual growth rate has hit the lowest level since records started in 1977.

The monthly figure showed housing credit rose 0.3 per cent in February, according to figures published by the Reserve Bank of Australia.

The annualised growth rate was just 4.2 per cent – the slowest annual rate of growth since 1977.

Housing credit growth lowest since records began. DOMAIN

Business credit growth has continued its steady run and personal credit growth, although still in negative territory, has improved.

Economists expected private credit growth to have remained modest in February with housing investor credit remaining weak.

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