Mortgage Demand Drops
Mortgage demand is declining, with new data showing a 5.4% drop-off in the June quarter.
According to the latest Australian Bureau of Statistics figures, the number of loans being written for owner-occupiers fell by 3.3% during the quarter.
Investors have also taken a backseat, with the number of investor loans down by 8.6%.
ABS head of finance statistics, Dr Mish Tan, says lending is down across all borrower types over the quarter and is now at similar levels to this time last year.
There were 134,225 loans written in the quarter.
The biggest decline in investor activity is in New South Wales, Victoria, and Queensland, which are down by 15.5%, 14.2% and 10.1%, respectively.
It was not all bad news on the investment front, with the data showing increases in investment loans in the Northern Territory (+12.8 per cent), the ACT (+8.7 per cent), and Tasmania (+5.3 per cent).












