Mortgages in Australia 2008
Category: Financial Services
Library Code: DMFS2224
Publication Date: 23-Apr-08
The Australian mortgage market is facing a number of internal and external challenges. Record low housing affordability is pressuring mortgagors, and the global credit crisis has increased funding costs for lenders. This report puts the current situation in its historical perspective, describes current trends in the market, and analyzes potential future developments.
Includes a comprehensive overview of the Australian residential mortgage market.
Draws upon a large Datamonitor's consumer survey to gain
insights into the current mindset of the Australian mortgagor. Includes market
overview, analysis of customers, product attributes, competitor breakdown and
Provides three scenario forecasts for lending commitments
in Australia until 2012.
The turbulence in international credit markets has led
to increased funding costs for Australian lenders. This has caused several of
the Australian banks to revise their estimates of profitability for the next
year downwards, and to raise their rates.
A higher degree of leverage for mortgagors may be a cause
for concern in the event of a market downturn. Rising interest rates combined
with falling property prices would leave some mortgagors overcommitted,
especially if the mortgage was taken out with the expectation of refinancing.
The internet has already altered the way that mortgages
are researched, as it has become very common for prospective mortgagors to
compare prices and features from different lenders online. Actually applying for
a mortgage over the internet is as yet quite uncommon, as consumers often desire
face-to-face contact for such important decisions.
Reasons to Purchase
Plan your future strategy with confidence using Datamonitor's
scenario-based forecasts of Australian lending commitments until 2012.
Understand the challenges the mortgage industry is
facing, as well as the opportunities.
In-depth analysis of how Australian providers approach
different issues, allowing you to reassess your strategy.
Click here to view THE TABLE OF CONTENTS
This product was added to our catalog on Friday 13 June, 2008.