°ÄÖÞ·¿´ûÊг¡ ÊÇÓɳö°æÉÌDatamonitorÔÚ2009Äê12ÔÂËù³ö°æµÄ¡£ Õâ·ÝÓ¢ÎÄÊг¡µ÷²é±¨¸æÊé°üº¬123 pages ¼Û¸ñ´ÓÃÀ½ð2795ÆðÌø¡£

Ŀ¼

Abstract

Introduction

The Australian mortgage market has tentatively started to recover from the effects of the global financial crisis. Lending commitments have bounced back after a sharp fall in 2008, largely based on unusually high first time buyer activity. This report puts the current situation in its historical perspective, describes current trends in the market, and analyzes future developments.

Scope of this research

• Includes a comprehensive overview of the Australian residential mortgage market.
• Draws upon a large Datamonitor consumer survey to gain insights into the current mindset of the Australian mortgagor.
• Includes market overview, analysis of competitors and outline of future developments.
• Provides three scenario forecasts for lending commitments in Australia until 2013.

Research and analysis highlights

Lending commitments have grown strongly over the last ten years, but dipped in the first half of 2008. In July 2000 lending commitments of A$7.5 billion were granted, and in July 2009 A$22.5 billion of lending commitments were granted, representing a CAGR of 12.9% over the period.

First home buyer activity has surged as a result of government subsidies and a low interest rate environment. The absence of non-bank lenders and a consumer preference for the perceived safety of large domestic banks led to opportunities for the largest four banks.

Satisfaction levels have converged between different financial institutions in the last year. In both 2008 and 2009, NAB was the lowest rated bank in terms of proportion of quite or very satisfied mortgagors, and ANZ was the highest rated, but the difference between the institutions was greater in 2008.

Key reasons to purchase this research

• Plan your future strategy with confidence using Datamonitor' s scenario-based forecasts of Australian lending commitments until 2013.
• Understand the challenges the mortgage industry is facing, as well as the opportunities, at this pivotal time.
• In-depth analysis of how Australian providers approach different issues, allowing you to reassess your strategy.

Table of Contents

OVERVIEW

• Catalyst
• Summary

EXECUTIVE SUMMARY

• Market sizing and key issues
  • The Australian mortgage market has grown strongly over the last decade
  • First time buyers have become a yet more important customer segment
  • Fixed rates are primarily used as a form of insurance

• Competitor market shares and developments
  • CBA and Westpac have tightened their grip on the mortgage market
  • Each major banks' mortgage customers have distinct attributes
  • The interest rate is a prime driver of customer acquisition
  • Mortgage stress is common for Australian mortgagors despite low default rates

• Customer acquisition and retention strategies
  • Mortgage innovation is slowly picking up in the Australian market
  • Mortgage brokers and the internet channel will continue to grow in importance
  • Institutions need to provide a smooth and seamless customer experience

MARKET SIZING AND KEY ISSUES

• The Australian mortgage market has grown strongly over the last decade
  • Outstanding housing credit now exceeds A$1 trillion
  • Outstanding credit has continued to grow in the last two years despite an uncertain economic environment
  • Lending commitments have grown over the last decade but fell in early 2008
  • Lending commitments bounced back in early 2009 as a result of strong first time buyer demand
  • Housing leverage has increased
  • Property prices have risen and converged between state capitals
  • Household mortgage fees yield over A$1 billion for Australian banks
  • Mortgage lending is forecasted to grow to A$331 billion by 2013

• First time buyers have become a yet more important customer segment
  • First time buyers have propped up the mortgage market
  • Investor market activity has abated somewhat since its 2003 peak
  • Refinancing activity has stabilized after a long period of growth
  • Most mortgagors expect to keep their mortgage with their current provider for 10 years or more
  • Most mortgagors had over 10% deposit when taking out their main mortgage

• Fixed rates are primarily used as a form of insurance
  • Interest rates have fallen since their 2008 peak
  • Average fixed rates exceed average standard rates as the markets expect a rising cash rate
  • Mortgagors are more likely to fix their mortgage rate when interest rates are high

COMPETITOR MARKET SHARES AND DEVELOPMENTS

• CBA and Westpac have tightened their grip on the mortgage market
  • CBA continues its dominance as the largest individual brand for mortgages
  • CBA and Westpac combined hold a 46% market share of outstanding Australian mortgages
  • CBA and Westpac have had success with the first home buyer segment by providing perceived security

• Each major banks' mortgage customers have distinct attributes
  • NAB customers are more likely to have investment properties and several mortgages
  • St.George has a strong presence in basic mortgages
  • ANZ customers are more likely to have used a mortgage broker
  • CBA has the highest proportion of new mortgagors
  • Westpac customers perceive themselves as more loyal
  • NAB has effectively cross-sold other financial products to its mortgage customers

lWww Bestmortgageremortgages Best Mortgage ReMortgages Forex Szh Page %D9%85%D9%86%D8%AA%D8%AF%D9%89 %D8%A7%D9%84%D8%B4%D8%B1%D9%85%D9%88%D8%B7%D9%87 %D8%B3%D9%85%D9%8A%D8%B1%D9%87 Free %D9%85%D9%88%D9%82 Best Mortgage ReMortgages °ÄÖÞ·¿´ûÊг¡ - GIIt y Best Turbo Best Mortgage ReMortgages Best Mortgage ReMortgages rWww Bestmortgageremortgages Best Mortgage ReMortgages Forex Szh Page %D9%85%D9%86%D8%AA%D8%AF%D9%89 %D8%A7%D9%84%D8%B4%D8%B1%D9%85%D9%88%D8%B7%D9%87 %D8%B3%D9%85%D9%8A%D8%B1%D9%87 Free %D9%85%D9%88%D9%82 Best Mortgage ReMortgages °ÄÖÞ·¿´ûÊг¡ - GIIb Best Mortgage ReMortgages