And here's what it looks like.
m/m Credit growth % change by purpose:
That's the largest decrease in investor lending in several decades... all because of a few bps... at record low rates...
Here is the total value:
This RBA data is also reflected in APRA's (with interest only loans included):
Note how IO loans haven't moved with loans to investors since the changes in '15.
I would say the switch to owner occupied loans is something they'll be looking at very closely. It shows that investors are extremely sensitive to tightening.
