Australia Private Credit Growth at 5-Month Low

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%.

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