Refinancing dominates market activity

Refinancing dominates market activity

by 0 comments

Jessica Darnbrough

Refinancing continues to be a major driver of market activity, with new data showing refinancing now accounts for more than 30 per cent of all owner-occupied housing lending commitments.

According to the Australian Bureau of Statistics, refinancing accounted for 30.8 per cent of all owner-occupied housing lending commitments in October 2011.

Refinancing has experienced some of the highest growth in activity over 2011.

Between October 2010 and October 2011, the average monthly growth of lending commitments has been just 0.1 per cent.

Owner-occupier lending commitments increased, on average, by 0.5 per cent each month, while investment housing lending commitments fell 0.5 per cent on average.

Year-on-year, the value of new investment housing lending commitments is down 9.3 per cent, while lending commitments for owner-occupied housing are up 3.5 per cent.

When refinancing is excluded, the value of lending commitments for owner-occupied housing is actually down 2.9 per cent in year-on-year terms.

Jessica Darnbrough

Refinancing continues to be a major driver of market activity, with new data showing refinancing now accounts for more than 30 per cent of all owner-occupied housing lending commitments.

According to the Australian Bureau of Statistics, refinancing accounted for 30.8 per cent of all owner-occupied housing lending commitments in October 2011.

Refinancing has experienced some of the highest growth in activity over 2011.

Between October 2010 and October 2011, the average monthly growth of lending commitments has been just 0.1 per cent.

Owner-occupier lending commitments increased, on average, by 0.5 per cent each month, while investment housing lending commitments fell 0.5 per cent on average.

Year-on-year, the value of new investment housing lending commitments is down 9.3 per cent, while lending commitments for owner-occupied housing are up 3.5 per cent.

When refinancing is excluded, the value of lending commitments for owner-occupied housing is actually down 2.9 per cent in year-on-year terms.

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
Marnie Seinor on structure, database DNA and connecting with her local community

There’s no such thing as an “off switch” in real estate – so says McGrath agent Marnie Seinor, who came in at number 78 in this year...

View all podcasts

Does the benefit of being part of a branded group outweigh the cost?

Yes
No
Depends on the group
Do you have an industry update?