Business Services Industry
Investment up, but most still borrow for a roof over their head.
Australasian Business Intelligence, May, 2003
May 18, 2003 (The Courier-Mail - ABIX via COMTEX)
New Australian Bureau of Statistics figures show that owner-occupiers still make up a majority of Australian mortgage applications. This is despite the fact that investor housing loans rose 15.8 per cent to a record high of $A5.72bn in March 2003. A Commonwealth Bank of Australia spokesperson says investor loans now make up 40 per cent of its loans, with the figure growing. A Westpac Banking spokesman says about 25 per cent of its market is made up of investment loans, with 20 per cent equity loans and between 56 and 60 per cent owner-occupiers. The ANZ Banking Group says the number of investor loans it issues rose from 27 to 30 per cent in the three years to 2003.
Publication Date: 19 May 2003...
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