Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Mortgage demand lowest in close to 30 years

Staff Reporter 1 minute read

Demand for home loans has sank to levels not seen since 1982, as high interest rates, the soaring cost of living and the financial crisis weighed on borrowing activity.

According to RBA data released yesterday, home loans grew by just 0.4 per cent in August.

The RBA’s data also showed that Australian households’ financial positions have deteriorated considerably since the beginning of the year as a result of sharemarket losses and weaker house prices.

Australian households’ net worth fell by 4.9 per cent in the first six months of the year – or $244 billion.

Published: 17-10-08

Today's other news

Mortgage demand lowest in close to 30 years
default
TheAdviser logo

The not-to-be-missed Accountants Daily Strategy Day will travel through Melbourne and Sydney in August to equip accounting professionals with the latest industry updates and tips for modern practice management as well as the latest cutting-edge technology, processes, strategies and trends shaping the future of accounting. Visit the website for more information: www.accountantsdaily.com.au/strategy-day

default

 

more from the adviser
David Hyman

Breaking News

Brokers promote competition in lending: Lendi

Brokers are driving competition in the mortgages sector and chang...

money au ta

Breaking News

SME fintech closes $25m raise to fund expansion

An SME lender has raised $25 million in equity to fund the ‘rap...

loan application

Breaking News

Hot Property: The biggest property headlines from the week 26 to 30 July

The weekly round-up of the biggest news stories from across Momen...