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There was a 14.8 per cent seasonally adjusted jump in commercial finance in the month of November, taking commercial finance up to 5.9 per cent higher than a year ago.
Property investment loans were a key driver of the increase, although housing finance for owner-occupiers was flat in the month.
Click on the charts to expand them, as always!
Piecing it all together lending finance spiked 9.8 per cent higher in November, following a 0.6 per cent rise in October.
All up, then, total lending finance jumped to $76.3 billion, the strongest monthly result since 2007 and the third strongest month on record.
In trend terms, total lending finance is now just a fraction below the highs recorded in 2015.
There has been a small rebound in commercial lending to the mining industry since September, supported by the commodity prices surge, while the construction, storage, and transport sectors have seen moderate increases.
Business seem to be making some use of low rates, with the economy and full-time hiring apparently picking up a bit of pace again into the end of 2016, following a soggy patch.
It very much looks as though interest rates will be on hold for a long while to come now, but Wednesday's inflation figures will be watched closely as always.
November's Lending Finance figures revealed a considerably improved month for commercial loans, with a 14.8 per cent increase in commercial finance.
Personal finance also increased by 6.4 per cent, while lease finance was up 3.1 per cent.
So it was a much improved month for lending overall.
By far the most striking trend, however, was the return of property investors to Melbourne, and especially Sydney.
Investor loans were 23 per cent higher than in November 2015 in Victoria, with investor lending having been hindered by macroprudential regulatory measures in the preceding year.
In New South Wales the value of loans was fully 40 per cent higher than in the prior corresponding period, confirming suspicions that parts of the Sydney property market were off to the races again at the end of calendar year 2016.
At the other end of the spectrum, the value of investor loans in resources state of Western Australia was down by 13 per cent year-on-year.
Mortgage arrears are also likely to show further increases in the Northern Territory, with dwelling prices in decline and elevated vacancy rates.
Note that the figures for the value of loans written are not adjusted for population growth.
The all-important inflation figures will be released on Wednesday morning.
Market consensus for core inflation is 0.5 per cent for the quarter and just 1.6 per cent annualised, well under the 2 to 3 per cent target range.
Headline inflation could come in a bit higher, with market consensus of 0.7 per cent (from a range of 0.3 to 1 per cent).
This will be the most important domestic release of the week.
In June the annual rate of inflation was the lowest seen since 1999 at just 1.3 per cent.
I recently wrote here how it looked as though new home finance had shaped into quite a neat double top formation.
In November, finance for new owner-occupier purchases increased a bit, but overall the trendline does suggest that a second peak is forming.
The slight rebound ties in with the rebound in new home sales in the month, previously noted here.
Mainly investors buying new
It's often said that investors mainly invest in established housing, with charts produced to prove it.
Of course, with the total dwelling stock only increasing by less than 2 per cent over the year to September 2016 to 9.76 million, it stands to reason that most investors will buy established - there just aren't that many new properties in any given year.
I have been more interested to know what percentage of the new housing stock was purchased by owner-occupiers, but nobody I have asked seems to know (or even care about) the answer.
The housing finance figures show that owner-occupiers financed the construction of only 68,200 homes and the purchase of just 31,490 dwellings.
What the housing finance figures don't capture is that some owner-occupier buyers of new homes are cash buyers.
But nevertheless, it's clear that largely the buyers of new dwellings are investors, albeit many of them from overseas.