Home lending to investors surges to highest growth rate in two years in June: RBA

The dominance of property investors over owner-occupiers has been confirmed in the latest RBA credit data for June.

It shows there was a 0.6% rise in credit provided for investor housing in June, double the 0.3% rise in credit provided for owner-occupiers.

For the 12 months ending June 2013, credit provided for investors has risen 5.7% - the highest annual growth rate since July 2011 (when annualised growth was 5.9%),

Annualised growth in loans to owner occupiers remains lacklustre at just 4.1%

Overall, housing credit provided by lenders rose 0.4% over June to be up 4.6% over the past 12 months.

Other personal credit increased by 0.2% over June after decreasing by 0.1% over May to be up 0.2% over the past 12 months.

Business credit rose by 0.5% over June after increasing by 0.2% over May. Over the year to June, business credit rose by 0.9%.