SYDNEY (CU)_Since late March 2020, when the COVID-19 pandemic triggered a freefall in share prices, a strong recovery in credit growth has been reported over the recent months, which has led to a staggering rise in bank share prices. The biggest increase of 85 per cent was reported from ANZ, followed by the Commonwealth Bank of Australia, whose share prices rose by 80 per cent. The National Australia Bank is also up by almost 77 per cent, while a 70 per cent increase was reported by Westpac. This was mainly on account of the recovery in mortgage lending in which growth was running at a three-month annualised rate of 7 per cent in June, the highest level in 6 years.
Meanwhile, house prices are also on the rise, with latest data issued by CoreLogic recording a…
