Pursuits
Australian Investor Mortgage Growth Slows to 17-Month Low
- Annual investor housing credit expanded at 9.1% in November
- Owner-occupier mortgages grow at fastest pace since Feb. 2011
SYDNEY, AUSTRALIA - MAY 08: A man walks past properties strewn with graffiti on May 8, 2014 in Sydney, Australia. The Grafitti Control Amendment Act passed in the NSW legislative council yesterday includes tougher penalties a the ability for local courts to enforce community clean up duty on offenders.
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Home loans to Australian landlords grew at the slowest pace in 17 months as a regulatory crackdown forces lenders to raise interest rates and tighten lending standards.
Investor housing credit expanded 9.1 percent in the 12 months to Nov. 30, the weakest pace since June 2014, according to data from the Reserve Bank of Australia. Growth has slowed for the fifth consecutive month, the data show.