Economic Activity Continues to Rise As $2billion Added To Australian Loan Books

Data released by the reserve bank shows that almost $2billion has been added to loan books across Australia.

This data released for the month of July signified a surge in economic activity within the housing credit market with a whopping $1.97billion dollars lent to purchase Australian property.

This was led by the owner occupier market which accounted for $1.3billion dollars of the surge whilst investor housing credit broke a two-year plateauing trend to increase by $670million.

What these figures signify is a great balance in the housing market. A market dominated by owner occupiers signifies a level of relative affordability whilst a healthy investor level indicates a healthy level of consumer confidence in the housing market.

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