Looking Ahead: 2020 a new decade
Deloitte Australian Mortgage Report
Australia’s leading lenders and mortgage brokers predict a modest recovery in the nation’s overall lending growth. They anticipate the green shoots of the last few months of 2019 lending continuing into 2020.
The 2020 Deloitte Australian Mortgage Report comprises a roundtable of representatives of the nation’s biggest lenders and broker groups, who along with Deloitte partners, discuss the state of the lending industry in Australia and how it is evolving. The group also considers funding and pricing issues in lending, regulation, distribution and innovation.
The new decade sits on the back of a year of taking stock for all participants in the mortgage lending sector, for consumers, distributors (brokers) and lenders. In 2019 the market had to respond to the significant issues identified by the Hayne Royal Commission and work through the appropriate responses and changes, as well as deal with economic uncertainty, low business and consumer confidence, a Federal Election, low inflation and wage growth.
In the attached report, as well as the representative lending experts sharing their views on how the various forces will play out over the next 12–24 months, Deloitte Access Economics looks at the state of the economy now and into the future. We also cover the revised Open Banking timeline and outline ASIC’s RG209 guidance on responsible lending.
We hope you find the report useful and look forward to further detailed discussions.
