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Australia Has A Sluggish Mortgage Market
Banking Frontiers
|July 2019
The mortgage loan industry in Australia has been seeing negligible growth:
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The mortgage market in Australia has been seeing hard times. Credit growth in the sector has been negligible and over the whole of 2018, credit for property purchases dipped to 4%, the weakest result on record. Loans extended for property investment have fallen sharply over the past year. Credit for owner-occupier property purchases also remained weak and the annual increase was the smallest since September 2015. Experts attribute several reasons for the pronounced slowdown, the main ones being a higher proportion of borrowers with amortizing loans, reduced property turnover and weak demand given ongoing declines in home prices.
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