The Mortgages industry plays a key role in the dream of home ownership for many households, and this is evident in the growing asset base of the overall industry. The beginning of the past five-year period was characterised by consumer deleveraging, low credit availability and generally low consumer sentiment. This started to change, however, as the government lowered the official cash rate and implemented numerous assistance programs to support growth in the residential housing market. As a result, the value of mortgages issued by the industry has grown over the past five years. New loan approvals declined in 2010-11, but have grown at an increasing rate since then.
This industry comprises the mortgage lending activities of authorised deposit-taking institutions (ADIs). ADIs include banks, building societies and credit unions. A mortgage is a loan secured by real property with features such as loan size, maturity, interest rate and payment method. Loan size depends mostly on the value of the securing property. Mortgages can be refinanced to reflect property revaluations. The industry does not include mortgage brokers.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.