Australia Private Credit Growth Matches Forecasts

Australia’s private sector credit rose by 0.6% month-over-month in September 2026, slightly exceeding market expectations for a 0.5% increase but matching the pace recorded in the previous two months. Housing credit growth remained steady at 0.4%, while business credit held at 0.9%, indicating stable borrowing activity across both segments. Meanwhile, other personal credit growth slowed to 0.3% from 0.7% in August, pointing to weaker momentum in household borrowing outside housing. On an annual basis, private sector credit growth held steady at 8.4%, unchanged from August, suggesting overall credit expansion remained firm.

Australia’s private sector credit rose by 0.6% month-over-month in August 2026, slightly above market expectations for a 0.5% gain but the same pace as in the previous month. Housing credit, representing 62% of total private credit, increased by 0.4%, marking the softest rise since January 2025 and slowing from a 0.5% gain in July amid slower growth in investor credit (0.3% vs 0.4%), while owner-occupier credit held steady at 0.5%. Additionally, business credit, which accounts for 34% of total private credit, grew by 0.9%, the weakest growth in four months and easing from a 1% increase in July. Meanwhile, other personal credit, making up the remaining 4%, rose faster at 0.7%, following a 0.5% rise in the prior month. On an annual basis, private sector credit rose by 8.4%, matching the increase recorded in July. Annual growth in housing credit slowed to 7.3% from 7.5%, while business (10.9% vs 10.6%) and other personal credit (5.1% vs 4.8%) rose at faster pace.

Australia’s private sector credit rose by 0.6% month-over-month in July 2026, marking the softest growth since February and slowing from a six-month high of 0.8% in the previous month. Housing credit, representing 62% of total private credit, increased by 0.5%, the softest rise in a year and easing from a 0.6% rise in June amid slower growth in investor credit (0.5% vs 0.8%), while owner-occupier credit held steady at 0.5%. Additionally, business credit, which accounts for 34% of total private credit, grew by 0.9%, down from 1.1% in June, while other personal credit, making up the remaining 4%, increased by 0.3%, slowing from 0.9%. On an annual basis, private sector credit grew by 8.4%, easing from an 8.6% gain in the preceding period, which was the strongest yearly expansion since October 2022. Annual growth in housing credit edged down to 7.4% from 7.5%, while business credit growth eased to 10.6% from 11% and other personal credit growth remained unchanged at 4.7%.