Mortgage inquiries and personal loan applications: June quarter results revealed

by AB23 Jul 2013

Mortgage inquiries took an upswing in the June quarter, according to the latest report by credit bureau Veda.

Inquiries were 6.9% higher than in the June quarter last year - the biggest increase since 2010.

"The increase in mortgage inquiries appears to suggest better housing market conditions. Inquiries are a good indicator of home buyer demand,” says Veda genera manager of consumer risk, Angus Luffman.

Mortgage inquiries increased in all states, but Western Australia and New South Wales fared particularly well.

Personal loan applications, however, were down. After coming in 10.3% higher, year-on-year, in the March quarter, they were just 6.3% higher in June.

Luffman says growth in demand for personal loans has been driven by a surge in car sales. He said this area of demand appeared to be fading.

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