Lending boom unchecked in April

Ian Rogers

The strains in the economy evident in the GDP data for the March 2024 quarter this week were not so severe as to knock the wind out of the sails of the credit supply chain.

ABS data for April 2024 shows annual growth in new housing lending stands at 24.6 per cent. Over April, new lending was 4.8 per cent.

New investor lending rose by 5.6 per cent in April and was 36.1 per cent higher over the year.

Belinda Allen, senior economist at CBA said “growth in the value of new lending is being reflected in rising average loan sizes.