RBA releases chart pack

Maybe I'll do a full analysis of the Reserve's chart pack over the weekend. 

The RBA's latest chart pack runs to 30 May.

While credit growth statistics have only shown a moderate upturn to date, I thought this chart below told an interesting story: namely that housing loan approvals are in a very significant uptrend over the past year, and climbing sharply.

What I really would like to see is the first homebuyer approvals picking up.

I have suggested for the last month or two that this seems likely, but the evidence below has yet to reflect much action in this sector.

Housing Loan Approvals graph

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