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.

Owner-occupied financing drops for non-banks, banks

Staff Reporter 3 minute read

Tight funding conditions, increased unaffordability levels and recent media negativity impacted non-bank financing commitments in March, figures released today by the ABS have revealed.

The  number of owner-occupied dwellings financed by the sector decreased by 13 per cent, seasonally adjusted, over March, after a revised decrease of 6.9 per cent in February.

The number financed by banks fell 4.7 per cent, in line with an overall 6.1 per cent seasonally-adjusted decline in owner-occupied dwellings financed in March.

Other significant ABS indicators released Friday included:

Advertisement
Advertisement


•    Total value of finance towards investment housing fell 7.2 per cent, seasonally adjusted, to $5.978 billion.

•    Total number of new dwelling finance commitments fell 11.5 per cent, seasonally adjusted, to 1.981 billion.

•    The number of first home buyer commitments as a percentage of total owner-occupied housing finance commitments decreased from 17.2 per cent to 16.4 per cent in March.

•    The number of fixed-rate loan commitments as a percentage of total owner-occupied housing finance commitments rose to 23.9 per cent in March, from 23.6 per cent in February.

Published: 12-05-08

PROMOTED CONTENT


Owner-occupied financing drops for non-banks, banks
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

default

 

more from the adviser
Michael Russell MoneyQuest Brokerage head calls out ‘unacceptable’ turnaround delays

It is “unacceptable” that turnaround times in branches can be...

gentlmen handshake Ex-Time Home Loans director partners with AFG

The aggregator has partnered with former Time Home Loans director...

farmer ta 34% of farmers eyeing raised business investment

Roughly one-third of Australian farmers expect to increase their ...