Non-conforming loans take off in Oz

Monday 29 November 2004

Lending commitments in the non-conforming mortgage market in Australia grew 500%, from A$1.4 billion in 1999 to A$8.4 billion in 2003, researcher Datamonitor says.

By The Landlord

While it only accounts for 4.2% of total lending commitments, Datamonitor predicts a bright future for non-conforming mortgage lending in Australia.

"The market is destined to expand as existing lenders boost awareness of their product and brand, broker understanding of non-conforming mortgage lending continues to grow and entrants from the mainstream mortgage market acquire a presence in the market."

By 2008 lending commitments in the non-conforming mortgage market will amount to A$20.4 billion, equivalent almost 9% of total lending commitments.

Datamonitor estimates that the Australian non-conforming population included 2 million individuals in 2003, accounting for just over 10% of the country's population.

Read More - Opens in a new window
Commenting is closed

Property News

Price expectations spiral down

Housing confidence has been dealt a hefty blow by the Covid-19 crisis with house price expectations plummeting to new lows.


Industrial holdings leave Provincia in strong position

Tales of strife and problems abound in the commercial property world these days, but the impact of the Covid-19 pandemic has not been as devastating for all commercial players.


Mortgage lending slumps to record low in April

Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.

Site by PHP Developer