Property market showing signs of recovery with surge in owner-occupier and investor lending

Australia’s housing market is showing further signs of recovery, thanks to a surge in the number of people who are borrowing — and taking out bigger mortgages.

The value of new loans issued to households jumped 3.9 per cent to $32 billion in July, its sharpest increase in four-and-a-half years, according to the latest data from the Australian Bureau of Statistics (ABS).

It was driven, in particular, by owner-occupiers (excluding those who are refinancing). The amount of money they borrowed rose 5.3 per cent to $13.3 billion since the previous month, seasonally adjusted — the strongest result since August 2015.

Furthermore, the number of people taking out a mortgage to buy their next home lifted 4.2 per cent to 32,427 in July — much higher than the 1.5 per cent increase that the market had expected.

The figures showed there was strong demand from people applying for mortgages to buy their first home.

“First home buyers have continued their slow but steady return to the market, increasing their share of new owner-occupier lending to 29.4 per cent in July,” said Sally Tindall, research director of online comparison website RateCity.

She also noted it was the highest proportion of first home buyers since January 2012.

In addition, the July figures showed a strong increase in lending for those refinancing their owner-occupied homes (+6.3pc) and investment properties (+3.5pc) and personal loans (+4.3pc).

Surge in investor lending

There was also a significant bump in lending to investors, up 4.7 per cent to $4.6 billion, its sharpest rise since September 2016.

However, the value of new personal loans and commercial lending fell 2.6 and 1.1 per cent respectively.

“Property market conditions have improved, particularly in Melbourne and Sydney, since June,” CommSec chief economist Craig James said.

“Demand for home loans have jumped, auction clearance rates are up, home sales have lifted and both markets have recorded decent price gains, supported by the lowest mortgage rates since the 1950s.”

The recent boost in household lending comes after the Reserve Bank (RBA) cut interest rates to a record low, and the Government passed its personal income tax cuts for lower to middle income earners.

Despite the solid monthly increase, it was still a massive drop over the past year.

In the 12 months since July 2018, the value of owner-occupier lending dropped 8.3 per, while the amount loaned to investors has plunged by an even steeper 20.4 per cent.

“The RBA is unlikely to be impressed by these numbers,” ANZ economists Adelaide Timbrell and Felicity Emmett wrote in a note.

“It would not want a repeat of the housing boom that we had prior to 2017, given already high levels of household debt.

“It is also conscious of the impact that strongly rising house prices have on inequality.

“If this sort of growth in housing finance persists, we expect the regulators [APRA] would begin to consider macro-prudential controls sooner rather than later.”

Ref: business reporter David Chau (on 09 Sep 2019). Property market showing signs of recovery with surge in owner-occupier and investor lending. Retrieved from https://www.abc.net.au/news/2019-09-09/property-market-recover-mortgage-surge-owner-occupier-investor/11491966

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房地产市场出现复苏迹象,自住业主和投资者贷款激增

澳大利亚房地产市场正在出现进一步复苏的迹象,这要归功于借贷人数的激增 – 以及猛增的抵押贷款。

根据澳大利亚统计局(ABS)的最新数据,7月份发放给家庭的新贷款增加了3.9%,达到320亿,是四年半以来的最大增幅。

它主要是由自住业主(不包括再融资的人)推动的。自上个月经季节性调整后,他们借入的资金增加了5.3%,达到133亿,这是自2015年8月以来最强劲的增长。

此外,7月份通过抵押贷款购买下一套房屋的人数增加了4.2%,达到32,427人,远高于市场预期的1.5%。

数据显示,申请抵押贷款购买首套房屋的人士需求强劲。

在线比较网站RateCity的研究主管Sally Tindall表示,“首次置业者继续缓慢但稳定地回归市场,7月份新业主占用贷款的份额增加至29.4%。”

她还指出,自2012年1月以来,数据表明首次购房者达到了最高比例。

此外,7月数据显示,自住房(+ 6.3%)和投资房产(+ 3.5%)以及个人贷款(+ 4.3%)再融资的贷款大幅增加。

投资者贷款激增

对投资者的贷款也大幅增加,增长4.7%至46亿,是自2016年9月以来的最大增幅。

然而,新增个人贷款和商业贷款的价值分别下跌2.6%和1.1%。

CommSec首席经济学家克雷格詹姆斯说:“自六月以来,房地产市场状况有所改善,特别是在墨尔本和悉尼。”

 “房屋贷款需求猛增,拍卖清盘率上升,房屋销售上升,两个市场均获得不错的价格上涨,这得益于20世纪50年代以来的最低抵押贷款利率。”

由于储备银行(RBA)将利率降至历史最低水平之后,同时政府通过了对中低收入者的个人所得税减免,近期家庭贷款呈现出猛增的状态。

尽管每月增长稳固,但过去一年仍然大幅下降。

自2018年7月以来的12个月中,自住业主贷款值下降了8.3%,而贷款给投资者的贷款则下降了20.4%。

 “澳大利亚央行不太可能对这些数字印象深刻,”澳新银行经济学家阿德莱德蒂姆布雷尔Adelaide Timbrell和费利西蒂埃米特Felicity Emmett在一份报告中写道。

 “鉴于目前已有的较高的家庭债务,我们不希望重复2017年之前的房地产繁荣。

 “同样意识到房价大幅上涨的影响。

 “如果住房融资的这种增长持续不断,我们预计不久监管机构[APRA]将开始考虑宏观审慎控制。”

Ref: business reporter David Chau (on 09 Sep 2019). Property market showing signs of recovery with surge in owner-occupier and investor lending. Retrieved from https://www.abc.net.au/news/2019-09-09/property-market-recover-mortgage-surge-owner-occupier-investor/11491966

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