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1.Market Observations, 8.Was Sticky

1 Oct 2019 (AFR) – Rate cuts not helping record low housing credit

(1 October 2019, AFR, p5, Matthew Cranston, Economics correspondent)

‘Credit growth for housing has recorded its lowest annual growth since records were first kept in 1977, raising concerns that people are not taking advantage of consecutive interest rate cuts. Housing credit growth dipped to 3.1 per cent according to the Reserve Bank of Australia’s latest numbers, while the monthly increase for August was just 0.2 per cent, down from 0.3 per cent in July. Investor housing credit growth went backwards in August, down 0.1 per cent, with annual growth at just 0.1 per cent – the lowest it has been since records were kept.’

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