Australia’s property investor borrowing rises at fastest rate in a decade - despite interest rate rises

Property investor borrowing rose at its fastest rate in a decade in March, according to the Reserve Bank, despite higher interest rates and speculation about property tax changes . Owner-occupier loan growth slowed under the weight of growing mortgage costs but investor lending is continuing its record surge. Bank loans to Australian investors grew by $42bn in the year to March, a 9.6% increase and the fastest rate since September 2015, according to the central bank’s statistics. …