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Non-bank lending tumbles in July

Staff Reporter 1 minute read

The banks have gained further ground as funding issues continue to hamper the non-bank sector’s ability to compete on price.

The number of owner-occupied dwellings financed by the sector, according to the latest ABS data, decreased eight per cent over the month, seasonally adjusted, following a slight revised increase of 1.6 per cent in June. <

The number of owner-occupied dwellings financed by the sector, according to the latest ABS data, decreased eight per cent over the month, seasonally adjusted, following a slight revised increase of 1.6 per cent in June.

The number of bank financed loans has increased by one per cent.

Over July, the total number of home loans issued continued to fall, dropping by a further 0.2 per cent to 50,279.

Finance for the purchase of new dwellings decreased most significantly by 3.1 per cent.

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Published: 09-09-08

Can the non-bank sector regain market share in the near future? What are your thoughts a on bank dominated third party chanel? COMMENT HERE

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Non-bank lending tumbles in July
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