May sees reduced growth in property investor lending: APRA
Investor lending went up in May, according to the latest monthly data from the Australian Prudential Regulation Authority, but the growth rate was down on the prior wo months.
Strong growth in owner-occupied lending continued with a jump of 0.9 per cent.
Investor lending increased by 0.1 per cent (or $900 million) in May, down on April's growth rate of 0.3 per cent ($2.1 billion) and March, when it increased by 0.2 per cent ($1.6 billion).
Westpac had the largest rise in the owner-occupied portfolio to $236.9 billion in May but its investor loan portfolio dipped to $177 billion.
The CBA was the next biggest lender to investors with a $161 billion loan book, the the NAB at $100 billion and ANZ at $87 billion. The largest lender outside the big four was Macquarie at $27 billion and Bendigo & Adelaide Band at $15 billion.
APRA said "the recent sustained growth in home lending continues to reflect robust borrower demand" underpinned by record-low interest rates, government measures supporting first home buyers (such as the First Home Loan Deposit Scheme), and new home building, as well as an optimistic employment outlook.
