Nick Goodall

Investors, same thing, right?

Like you said, that 3% is so low, it feels like it's hardly worth talking about.

But again, our question was, will investors, given the changing environment and not much

growth on the capital expectation side of things, you know, still high costs of holding properties.

We know the mortgage top-ups, how many of them are willing to go, yeah, I'm going to increase the size of that debt compared to my equity.

And, you know, which means you're still going to have a pretty decent sized debt, which means you're probably going to be paying some, you know, relatively high payments.

at a time when you're not expecting that capital growth to come through?

And will investors really be willing to take on that level of debt compared to their equity?

And this is showing that, yep, there's some willingness out there.

You know, yes, it's only going from, you know, less than a percent, close to 0% to 3% now that they can.

And we know that, you know, the bank's,

self-imposed limit is probably about 5% given the actual limit is 10% they like to keep that buffer 3% you know it's some way to that 5% so yep the willingness the ability is there and it's going to continue to I suppose you know provide some tailwinds the fact that you know this market has got you know the money is available and the borrowers out there willing to take it on just shows that there are these reasons to expect this demand to continue to grow through this year and

And, you know, to the point now where we're going to go, at what point do we see the LVRs also become somewhat of a headwind, the LVR restrictions, a headwind to this market because, you know, they could grow further, the market could grow further, demand could grow further until these limits kick in and the banks are getting close to 20% for their owner-occupier limits.

and 5% for their investor limits.

Maybe that's going to be something that just constrains what this growth phase could have otherwise looked like had they not been in place.

And that's on top of the DTIs, which as we've noted over the last few months, you know, they're starting to increase as well.

Yes, you've got to be careful with the data you're using because it's not quite as bad as the original data looks like.

But definitely when we look at, you know, long-term expectations here, debt restrictions will come into play at some stage in the future and just limit what the growth phase looks like, which I think is an important, you know,

final position to, I suppose, stand on when we're looking at, you know, the lending data and what it means and how it's going to play out over the next, you know, six months, a year and into next year as well.

So, yeah, I think it's an important data release.