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Housing credit growth slowest since 1991

Staff Reporter 1 minute read

Housing finance growth figures fell in May to their lowest level in 17 years, the RBA revealed today.

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According to the central bank, housing credit for the month of May increased by just 0.6 per cent, which slowed annual growth for the year to just 10.6 per cent.

Other finance sectors preformed slightly better: private sector credit growth increased by 0.6 per cent in line with market expectations. Business borrowing also improved slightly on the previous month – it registered a credit growth percentage of 0.6 per cent.

Published: 01-07-08

Housing credit growth slowest since 1991
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