Australian housing finance data for July

Home loans up 2.9% m/m, a beat

  • expected 1.0%, prior was 1.2% revised from 0.5%

Investment lending down 3.9% m/m ... the RBA will see this as showing policies to limit investor borrowing working

  • prior was 2.3%, revised from 1.6%

Owner-occupied loan value up 0.9% m/m ... renewed efforts on first home buyer grants will be helping this along

  • prior was 0.6%, revised from 0.3%

Pic for investor lending:

The dip from the peak in mid 2015 was the previous round of macroprudential tools and now are seeing a new dip on the latest round. Is it just me or is anyone else wondering how long it'll last before surging back up again?

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Not much AUD impact, down a few tics.