reporter2
03-11-11, 17:49
http://www.businesstimes.com.sg/sub/news/story/0,4574,462868-1320177540,00.html?
Published November 1, 2011
New home loans continue to dip in Q3
By CONRAD TAN
THE volume of new home loans granted by banks here continued to fall in the third quarter, as volatile financial markets made both borrowers and lenders more cautious in the housing market.
Some $12.41 billion in new housing loans was granted in Q3, down 3.5 per cent from the $12.86 billion in Q2, according to the latest estimates by the Monetary Authority of Singapore. That follows a 4.2 per cent drop in housing loans granted in Q2 compared to Q1.
As in the previous quarter, new loans granted for owner-occupied property fell by more than loans for investment property.
New loans granted for owner-occupied property in Q3 fell 4.6 per cent to $8.86 billion, from $9.29 billion in Q2, while new loans for investment property declined by just 0.6 per cent to $3.55 billion, from $3.57 billion in Q2.
The volume of outstanding housing loans granted - based on maximum loan limits approved by banks - rose 3.6 per cent over the quarter to $152.1 billion. That includes new housing loans granted during Q3, less any loans that were repaid during the quarter.
The portion of home loans actually utilised rose 4.4 per cent over the quarter to $129.9 billion, compared to $124.4 billion in Q2.
Outstanding loans granted for owner-occupied property rose to $105.57 billion in Q3, up 3.9 per cent from $101.64 billion in Q2, while the amount utilised grew 4.3 per cent to $91.3 billion.
For investment property, outstanding loans granted rose by a slower 2.9 per cent, to $46.5 billion, but the amount utilised increased more quickly, by 4.8 per cent, to $38.6 billion.
The average loan-to-value (LTV) ratio for housing loans across the industry was unchanged in Q3, at 44.1 per cent, compared to Q2.
The industry-wide LTV average is calculated by weighting each financial institution's LTV ratio by the volume of outstanding loans it granted. It is based on an MAS survey of housing loans at financial institutions that account for over 90 per cent of the total outstanding housing loans extended by the industry, MAS said.
Published November 1, 2011
New home loans continue to dip in Q3
By CONRAD TAN
THE volume of new home loans granted by banks here continued to fall in the third quarter, as volatile financial markets made both borrowers and lenders more cautious in the housing market.
Some $12.41 billion in new housing loans was granted in Q3, down 3.5 per cent from the $12.86 billion in Q2, according to the latest estimates by the Monetary Authority of Singapore. That follows a 4.2 per cent drop in housing loans granted in Q2 compared to Q1.
As in the previous quarter, new loans granted for owner-occupied property fell by more than loans for investment property.
New loans granted for owner-occupied property in Q3 fell 4.6 per cent to $8.86 billion, from $9.29 billion in Q2, while new loans for investment property declined by just 0.6 per cent to $3.55 billion, from $3.57 billion in Q2.
The volume of outstanding housing loans granted - based on maximum loan limits approved by banks - rose 3.6 per cent over the quarter to $152.1 billion. That includes new housing loans granted during Q3, less any loans that were repaid during the quarter.
The portion of home loans actually utilised rose 4.4 per cent over the quarter to $129.9 billion, compared to $124.4 billion in Q2.
Outstanding loans granted for owner-occupied property rose to $105.57 billion in Q3, up 3.9 per cent from $101.64 billion in Q2, while the amount utilised grew 4.3 per cent to $91.3 billion.
For investment property, outstanding loans granted rose by a slower 2.9 per cent, to $46.5 billion, but the amount utilised increased more quickly, by 4.8 per cent, to $38.6 billion.
The average loan-to-value (LTV) ratio for housing loans across the industry was unchanged in Q3, at 44.1 per cent, compared to Q2.
The industry-wide LTV average is calculated by weighting each financial institution's LTV ratio by the volume of outstanding loans it granted. It is based on an MAS survey of housing loans at financial institutions that account for over 90 per cent of the total outstanding housing loans extended by the industry, MAS said.