The latest ABS lending indicator statistics reveal there was an explosion in refinancing in May 2020, taking total lending to owner-occupiers up to record monthly highs. If you recall this was off the back of aggressive pricing and cashback offers largely driven by the major banks. But once you strip out the massive surge of […]
Latest ABS housing finance data – refi explosion but investors retreat
Will there really be a slew of mortgage defaults come September/ October?
I’ve seen a number of quite alarming headlines recently that there’s going to be a wave of mortgage defaults in September/ October once the relief measures like Jobkeeper and loan repayment deferrals end simultaneously. Here’s an alternative point of view… Firstly, readers can take comfort that the Australian Prudential Regulation Authority (APRA) and the banking […]
Why hasn’t the property market crashed?
How much have Australian house prices fallen due to COVID19? Has the possibility of a 20-30% correction all but gone now? These questions were answered in a recent article by Dr. Shane Oliver, Head of Investment Strategy and Chief Economist at AMP Capital. On 19 March, when Shane first looked at the impact of the […]