Australian Home Loans Soar to Record, Reinforcing RBA Pause

Australian home loans surged beyond expectations in the third quarter to a record high, underscoring how easier monetary policy has reignited credit growth and property demand and giving the Reserve Bank another reason to stay on the sidelines.

Figures from the Australian Bureau of Statistics on Wednesday showed new loans for home investors jumped 13.6% in the three months through September to the highest level since early 2022, lifting total residential loans to a record.