APN Housing Credit Risk Index™
The APN Housing Credit Risk Index™ reads mortgage distress across Australia’s authorised deposit-taking institutions: the share of residential lending that is non-performing, and the share 30 to 89 days past due, the pipeline into non-performance. Higher readings mean more distress.
It is a national time series and a component of the APN Risk & Compliance Index™ (24200).
| Component | Source | Weight |
|---|---|---|
| Non-performing loans, as a share of total residential credit outstanding | APRA Quarterly ADI Property Exposures, all authorised deposit-taking institutions, quarterly from March 2019 | 50% |
| Loans 30 to 89 days past due, as a share of total residential credit outstanding | As above | 50% |
Each input is standardised against its own history from March 2019, and the node is their equal-weighted mean.
| Input | June quarter 2026 | Standardised |
|---|---|---|
| Non-performing loans | 1.01% of residential credit (2019–2025 average 0.93%) | +0.6652 |
| Loans 30–89 days past due | 0.54% (average 0.56%) | −0.2283 |
| Composite | — | +0.2184 |
The June quarter 2026 reading, +0.2184σ, ranks 51.7 against 30 quarters and sits inside the normal range of −1.1352σ to +0.8154σ. The highest ranked reading was +1.4587σ in the June quarter 2020, and the lowest −1.7433σ in the September quarter 2022. APRA’s residential loan-performance series begin in March 2019.
Show the data
| Quarter | Reading | Basis |
|---|---|---|
| Q1 2019 | +0.6788σ | Ranked |
| Q2 2019 | +0.8436σ | Ranked |
| Q3 2019 | +0.3523σ | Ranked |
| Q4 2019 | +0.4297σ | Ranked |
| Q1 2020 | +1.0342σ | Ranked |
| Q2 2020 | +1.4587σ | Ranked |
| Q3 2020 | +0.2088σ | Ranked |
| Q4 2020 | +0.3580σ | Ranked |
| Q1 2021 | +0.4285σ | Ranked |
| Q2 2021 | +0.1484σ | Ranked |
| Q3 2021 | −0.4498σ | Ranked |
| Q4 2021 | −0.9795σ | Ranked |
| Q1 2022 | −0.9352σ | Ranked |
| Q2 2022 | −1.2621σ | Ranked |
| Q3 2022 | −1.7433σ | Ranked |
| Q4 2022 | −1.5695σ | Ranked |
| Q1 2023 | −1.1211σ | Ranked |
| Q2 2023 | −0.8678σ | Ranked |
| Q3 2023 | −0.5832σ | Ranked |
| Q4 2023 | −0.1290σ | Ranked |
| Q1 2024 | +0.5014σ | Ranked |
| Q2 2024 | +0.8123σ | Ranked |
| Q3 2024 | +0.5881σ | Ranked |
| Q4 2024 | +0.6046σ | Ranked |
| Q1 2025 | +0.7533σ | Ranked |
| Q2 2025 | +0.5061σ | Ranked |
| Q3 2025 | +0.0849σ | Ranked |
| Q4 2025 | −0.1511σ | Ranked |
| Q1 2026 | −0.0505σ | Ranked |
| Q2 2026 | +0.2184σ | Ranked |
The June quarter 2026 reading, +0.2184σ, sits at the middle of the node’s record (position 51.7 against 30 quarters). The two inputs diverge: non-performing loans, at 1.01% of residential credit, are above their average, while early arrears, at 0.54%, are slightly below theirs.
Distress was highest in the June quarter 2020 (+1.4587σ) and lowest in the September quarter 2022 (−1.7433σ). It rose through 2023 to a high in the June quarter 2024 (+0.8123σ), and has eased since the March quarter 2025.
- Short baseline. APRA’s loan-performance data begins in March 2019, so each input’s baseline holds fewer quarters than the platform minimum. This is disclosed rather than smoothed over.
- Coverage. The data covers authorised deposit-taking institutions, not non-bank lenders.
- Definitions. Non-performing loans and loans past due follow APRA’s reporting definitions.
The other components of the APN Risk & Compliance Index™ (24200).
- Certified as a component of the APN Risk & Compliance Index™ (position 51.7 against 30 quarters, from a Z-score of +0.2184 at the quarter ending 30 June 2026)
- Short-baseline and coverage caveats disclosed above
