2010年4月澳大利亚抵押贷款行业研究报告

相似文件 换一批

是 否 +2 论坛币

k人 参与回答

经管之家送您一份

应届毕业生专属福利!

求职就业群

赵安豆老师微信：zhaoandou666

经管之家联合CDA

送您一个全额奖学金名额~ !

立即领取

感谢您参与论坛问题回答

经管之家送您两个论坛币！

+2 论坛币

【出版时间及名称】：2010年4月澳大利亚抵押贷款行业研究报告
        【作者】：摩根大通
        【文件格式】：pdf
        【页数】：44
        【目录或简介】：

Table of Contents
Executive Summary .................................................................3
Mortgage Industry Update .......................................................8
The Fujitsu Australia Mortgage Industry Profit Model ........18
Outlook For Housing Volume Growth ..................................23
Half an Hour with Stephen Porges........................................37

Executive Summary
This report is the result of a joint effort between Fujitsu Australia and J.P. Morgan,
focusing on developments in the Australian Mortgage Industry.
Mortgage Industry Update
In relation to the mortgage industry broadly, the key findings are:
Major banks continue to dominate market share . . .
As a direct consequence of being able to access credit on reasonable terms, bank
mortgage originations have been consistently higher than other mortgage providers.
Further, the lack of financing alternatives has meant that existing bank customers are
staying with the institution for longer, thereby reducing churn. The resultant strong
level of originations and retention of the existing customer base has seen the major
banks strongly increase their mortgage marketshare from 65% to 76% since the onset
of the GFC.
. . . But major banks market share may plateau
With the major banks increasing future funding requirements by rapidly growing
housing marketshare, they are unlikely to continue the rate of marketshare gain going
forward. As such, we expect the marketshare shift to the major banks to plateau by
the end of the year, with the re-emergence of securitization markets to assist
wholesale finance providers and the rising cash interest rate environment to assist
primarily deposit funded institutions such as smaller banks, Credit Unions, and
Building Societies.
The GFC has resulted in divergent outcomes for the major banks
CBA and WBC dominate the mortgage marketshare statistics with 25.9% and 24.1%
of the market respectively. While ANZ (12.5%) and NAB (13.2%) have significant
share, they have not captured the post-GFC marketshare shift to the same degree.
CBA and WBC have increased organic marketshare by a combined 8.3% since the
onset of the GFC. We attribute this to their larger branch footprint allowing them to
capture the favourable housing credit growth dynamics of the last 18 months.
First home buyers appear vulnerable
Fujitsu Australia data indicates that first home owners are typically borrowing about
the same amount as other borrowers (~A$280k), however, they are borrowing at
higher LVRs, and a higher multiple of their income. While borrowers will typically
have household income of ~A$100k, first home owners are below A$70k. This
means that at current interest rates of ~6.2% (headline rate of 6.9% less 70bp
package discount), first home owners are committing 34% of their post-tax income
toward servicing interest payments (not even accounting for principle reduction),
compared to 24% for typical borrowers. Mortgage rates returning to the 15 year
average of 7.7% sees 42% of first home owners post-tax income committed toward
servicing interest payments, while mortgage rates approaching their pre-GFC highs
will result in first home owners committing about half of their post-tax income to
interest servicing, while other borrower will only see their serviceability rise
modestly to 33% of their post-tax income.

扫码加我 拉你入群

请注明：姓名-公司-职位

以便审核进群资格，未注明则拒绝

分享0 收藏1 回帖

关键词：行业研究报告 研究报告 行业研究 抵押贷款 澳大利亚 研究报告 行业 澳大利亚 抵押贷款