Mortgage growth stalls

Mortgage growth stalls

by Staff Reporter 0 comments

Rising interest rates look as though they are finally taking their toll on home buyers, as demand for mortgages grinds to halt.

According to the latest data from the Australian Prudential Regulation Authority (APRA), the value of owner occupied housing loans held by the banks and other lenders grew by just 0.3 per cent in April.

The stunted growth figure follows a 1 per cent expansion in both March and February.

And despite strong signs to suggest competition is filtering back, the big four continue to dominate the home loan market for owner occupiers, accounting for 83 per cent of all mortgage held by home owners in April.

Westpac currently holds the lion’s share of the market, writing 27 per cent of owner occupier home loans.

CBA is not too far behind with 25 per cent of the market, while ANZ and NAB account for 15.5 per cent and 14 per cent respectively.

Rising interest rates look as though they are finally taking their toll on home buyers, as demand for mortgages grinds to halt.

According to the latest data from the Australian Prudential Regulation Authority (APRA), the value of owner occupied housing loans held by the banks and other lenders grew by just 0.3 per cent in April.

The stunted growth figure follows a 1 per cent expansion in both March and February.

And despite strong signs to suggest competition is filtering back, the big four continue to dominate the home loan market for owner occupiers, accounting for 83 per cent of all mortgage held by home owners in April.

Westpac currently holds the lion’s share of the market, writing 27 per cent of owner occupier home loans.

CBA is not too far behind with 25 per cent of the market, while ANZ and NAB account for 15.5 per cent and 14 per cent respectively.

Mortgage growth stalls
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

With a combined sales volume of over $14 billion in 2017, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
Why agents should always go back to basics

McGrath Estate Agent Marnie Seinor joins host Tim Neary to discuss how she stands out by turning open homes into networking parties. ...

View all podcasts

How much of an influence will bitcoin and other blockchain cryptocurrencies have on the home sale market in 2018?

None, Bit-what?
A little, cryptocurrency is a fad and will fade quickly
A lot, blockchain is the new black
Do you have an industry update?