Home loan growth picks up pace
Mortgage debt is now growing at the fastest rate in more than eight years.
Friday, September 30th 2016, 6:00PM
Housing loans increased a total of almost $2 billion in August, up 9.2%, year-on-year, Reserve Bank data shows.
Nationwide, there is more than $225b in property loans outstanding.
It is the fastest rate of growth since 2008 but below the 17.5% recorded in 2004.
There are indications that the loan-to-value restrictions now imposed on investors, which require a 40% deposit, may also be slowing down some sectors of the property market.
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