Housing credit has lost momentum under the weight of past tight monetary policy and with the sector facing a number of headwinds.<\/p>\n
Housing credit grew by just 0.30% in the month of June. This is the weakest monthly result on record (back to 1976), with the exception of a one-off fall of -0.38% for June 1984. Annual housing credit growth has now slowed to 5.1%, moderating from 6.0% a year ago.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"
From the Westpac Bulletin: Housing credit has lost momentum under the weight of past tight monetary policy and with the sector facing a number of headwinds. Housing credit grew by just 0.30% in the month of June. This is the weakest monthly result on record (back to 1976), with the exception of a one-off fall … <\/p>\n
Continue reading “Australia: Housing credit slows”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,45],"tags":[1738],"class_list":["post-4993","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-debt-levels","tag-housing-debt"],"yoast_head":"\nAustralia: Housing credit slows - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Australia: Housing credit slows - the patient investor\" \/>\n<meta property=\"og:description\" content=\"From the Westpac Bulletin: Housing credit has lost momentum under the weight of past tight monetary policy and with the sector facing a number of headwinds. Housing credit grew by just 0.30% in the month of June. 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He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients. Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter. Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit. 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Housing credit shows a slight up-tick, spurred by first home buyer incentives and ultra-low interest rates. But business credit is falling as investment demand plunges to 2008 lows. Capital expenditure contracted sharply in the services sector\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8581,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/10\/09\/household-debt-to-income-ratio\/","url_meta":{"origin":4993,"position":1},"title":"Household Debt to Income ratio","author":"ColinTwiggs","date":"October 9, 2013","format":false,"excerpt":"Barry Ritholz highlights the alarming debt to income ratio for Canada compared to the USA: How does Australia compare? Australian household debt to income is similar to Canada's. There has been discussion recently about whether Australia is in a housing bubble. As Anna Schwartz (joint author of A Monetary History\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5384,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/09\/04\/australia-housing-market-weakens\/","url_meta":{"origin":4993,"position":2},"title":"Australia: Housing market weakens","author":"Colin Twiggs","date":"September 4, 2012","format":false,"excerpt":"Housing credit growth is at its lowest level in over 30 years: lower than the dip of the early 1980s and the crash of 1987. The current rate of growth is barely sufficient to match already depressed construction rates for new homes*. The decline should see a gradual softening of\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5855,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/10\/28\/australia-household-debt-crisis\/","url_meta":{"origin":4993,"position":3},"title":"Australia: Household debt crisis","author":"Colin Twiggs","date":"October 28, 2012","format":false,"excerpt":"A few days ago I mentioned that Australia is in a housing bubble. The easiest way to gauge this is to compare Australian household debt\/disposable income (DPI) to the US peak before the global financial crisis. After all, household debt is the fuel for a housing bubble. Australia's current ratio\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1712,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/01\/there-goes-the-neighbourhood-steve-keens-debtwatch\/","url_meta":{"origin":4993,"position":4},"title":"There goes the neighbourhood | Steve Keen’s Debtwatch","author":"ColinTwiggs","date":"November 1, 2011","format":false,"excerpt":"Housing credit increased by 0.5 per cent over September (see the RBA Release for details), but this involved a further deceleration of mortgage debt..... ....The most recent figures\u2014that prices fell 1.2% over the June to September 2011 quarter, and 2.2% from September 2010 to September 2011 (see the ABS Release\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6053,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/06\/australia-hard-or-soft-landing\/","url_meta":{"origin":4993,"position":5},"title":"Australia: Hard or soft landing?","author":"Colin Twiggs","date":"November 6, 2012","format":false,"excerpt":"Browsing the latest charts from the RBA. Despite record low 10-year bond yields..... Credit growth is subdued and likely to remain so for some time. After a massive credit bubble lasting more than a decade. Households are saving close to 10 percent of Disposable Income in anticipation of a contraction.\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/4993","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=4993"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/4993\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=4993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=4993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=4993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}