Login
ISCOVER
Total mortgage lending growth in Australia has dropped to less than 10 per cent for the first time in 10 years, a new report by Deloitte has found.
According to the annual Deloitte Australian Mortgage Report: 2010 positioning for opportunity, the days of outstanding system lending growth between 10 and 15 per cent per annum are over.
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
“We anticipate current lending growth levels of around 7.5 per cent are most likely to remain into the near future,” banking partner with Deloitte Actuaries and Consultants, James Hickey, said yesterday at a roundtable discussion with Australian mortgage lenders and distributors.
However, despite the overall decline in mortgage lending, the report said the market is well positioned for 2010.
Audit partner and Deloitte Australian Securitisation lead Graham Mott said the mortgage market would evolve across a number of fronts, including brand, product and pricing differentiation, competition, distribution channels and innovation of product design, service and efficiency.
