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New research has revealed that owner-occupiers outperformed the investor segment in March for housing credit growth.
According to a study conducted by ANZ, the total volume of housing credit increased by 0.5 per cent over the month and by 6.2 per cent year-on-year.
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The owner-occupier segment recorded the biggest surge in March at 0.5 per cent, which was down from 0.6 per cent in February, but 7.2 per cent higher year-on-year.
Investor credit volumes grew by 0.3 per cent over the month, also down from 0.6 per cent the month prior, but 7.0 per cent higher year-on-year.
ANZ noted that the slowdown in investor credit growth was due to continued tightening of investor borrowing conditions over the past 12 months.
“From the double-digit growth through 2015 that prompted APRA’s macroprudential regulation, housing investor credit now sits at 7.0 per cent year-on-year,” the bank said.
“Not only is this well below APRA’s 10 per cent target, it is now slower than owner-occupier credit for the first time since 2012.
“The regulator will be satisfied that their changes have had the desired effect.”
Meanwhile, business credit volumes rose by 0.3 per cent in March and by 6.5 per cent year-on-year, while personal credit volumes declined by 0.3 per cent during the month and by 1.0 per cent year-on-year.
[Related: Budget will 'greatly help' borrowers]
