Powered by MOMENTUM MEDIA
subscribe to our newsletter
Owner occupiers drive housing credit growth

Owner occupiers drive housing credit growth

Growth in owner-occupied housing credit continued to outperform the investor segment in January, research by ANZ shows.

ANZ found that the volume of housing credit increased by 0.5 per cent over the month. The owner occupier segment led the way with a 0.6 per cent rise, while investor credit grew by 0.3 per cent.

ANZ noted that investor credit growth remained soft due to tighter borrowing conditions for investors in the past year.

“Although stronger owner occupier credit growth has provided some offset to this, overall housing credit growth has slowed in recent months,” the bank said.

“Having said that, the housing market has started 2016 in a fairly positive fashion. Auction clearance rates are noticeably higher than at the end of 205, particularly in Sydney. If this higher level of housing market sentiment continues, housing credit could potentially strengthen.”

Meanwhile, business credit rose by 0.6 per cent in January, while personal credit declined by 0.2 per cent. The volume of total credit grew by 0.5 per cent over the period.

[Related: Businesses continue to drive credit growth]

Owner occupiers drive housing credit growth
mortgagebusiness

Latest News

The proportion of income required to service a home loan decreased nationwide over the September quarter 2018, according to joint research f...

Delinquencies underlying Australia’s mortgage portfolio increased over the year to September 2018 off the back of out-of-cycle interest ra...

The financial services giant has announced the launch of a new website designed to serve as a “one-stop shop” for financial education. ...

FROM THE WEB
podcast

LATEST PODCAST: Changing faces and bank growth slowdown

Is enough being done to ensure responsible lending?