Australias overheating property market gradually lost steam in 2018 due to investors feeling jittery along with foreign capital outflows. Although falling property prices are good news for Australian buyers who have been priced out over the past few years, the current economic environment is pushing the market on the defensive. Business confidence is falling, influenced by uncertain ties in the greater global economic atmosphere. While this has not yet affected consumer confidence, the pressure will certainly be felt in the near term. With this in mind the next few years will be challenging for the Australian lending market.
This report analyzes the Australian consumer credit market, with coverage of both supply and demand factors as well as sectoral analysis.
Specifically the report explores -
- Specialist loan providers are rapidly increasing their market share at the expense of established authorized deposit-taking institutions, recording a compound annual growth rate of 7.9% between June 2010 and June 2017.
- Business confidence has sharply decreased since Q2 2018. While consumer sentiment is still on the up, declining business confidence will affect consumers over the near term, which in turn will tighten up consumer consumption.
- Strong growth figures from the P2P sector mask the fundamental problem of low consumer awareness, despite high levels of online research. The small digital marketing budgets of P2P lenders relative to established banks and specialist finance lenders will likely hamper their growth prospects.
- How the personal lending market faired in the previous year and what the future will hold.
- Factors that will affect the personal lending market.
- Net changes in market share across product areas.
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