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Home loan sizes drop by most in 15 years
Tightened bank lending regulations and a cooling property market have combined to produce the biggest dip in average Australian home loan sizes in more than 15 years.
The size of the national average home loan declined by 7.71 per cent to $357,200 over the three months to February 29, according to consumer advocacy website finder.com.au.
This includes a fall of more than four per cent in February alone.
Loan sizes fell in every surveyed state and territory, with the sharpest drop in NSW, where the average dropped by a record 10.15 per cent.
Only the ACT was not surveyed.
The national quarterly decline was the most severe since May-July 2000, according to Bessie Hassan from finder.com.au.
Ms Hassan said it was the first time the average loan size dropped by more than one per cent in three consecutive months, with the trends indicating pressure on the market.
She said APRA lending regulations compelling Australia's major banks to hold more capital were slowing the growth in mortgage lending.
Bron: News.com.au
Tightened bank lending regulations and a cooling property market have combined to produce the biggest dip in average Australian home loan sizes in more than 15 years.
The size of the national average home loan declined by 7.71 per cent to $357,200 over the three months to February 29, according to consumer advocacy website finder.com.au.
This includes a fall of more than four per cent in February alone.
Loan sizes fell in every surveyed state and territory, with the sharpest drop in NSW, where the average dropped by a record 10.15 per cent.
Only the ACT was not surveyed.
The national quarterly decline was the most severe since May-July 2000, according to Bessie Hassan from finder.com.au.
Ms Hassan said it was the first time the average loan size dropped by more than one per cent in three consecutive months, with the trends indicating pressure on the market.
She said APRA lending regulations compelling Australia's major banks to hold more capital were slowing the growth in mortgage lending.
Bron: News.com.au
