Lending showing real strength
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Lending showing real strength
Posted on Monday, February 16 2015 at 4:14 PM
Australians sure are in the home-buying frame of mind it would seem – backed up by recent statistics releases as well as some figures from customer-owned financial institution CUA – it lent its customers a record $1.8 billion in the second half of 2014.
The value of new loans to customers from July 1
to December 31, 2014 was up by around 75 per cent – or $800 million – compared
to the corresponding six-month period the previous year according to general manager,
products and marketing, Jason Murray.
He says that on the back of strong lending
results for July to September, CUA finished the year with three consecutive
record-breaking months for lending.
“In December alone we issued $373 million in
new loans, with more than 95 per cent of that being for housing. That’s the highest
value for new lending in one month that CUA has ever achieved in our 70-year
history,” Murray says.
“The record-breaking run started in October
when we issued a massive $350 million in new loans.
“In November, we broke that record with $357
million of new loans. And we topped it yet again in December.
“Mortgage brokers are also contributing to our
lending growth, generating close to half of our new loans, which reflects a
trend across the industry. Consumers are increasingly using comparison services
and brokers for everything from hotel bookings to insurance, and banking is no
different.”
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