New loans, debt servicing hit record levels
More Australians are borrowing more money at higher levels of debt to income than ever before.
On a national basis, the average loan size grew by $6,000 to $602,000. (Image source: Shutterstock.com)
More Australians are borrowing more money at higher levels of debt to income than ever before.
New home loan commitments hit a record high in December 2021, according to data just released by the Australian Bureau of Statistics.
These new loans are coming at a time of relative low wage growth and are chewing through a higher proportion of income than any previous generation.
Real Estate Institute of Australia (REIA) President, Hayden Groves sa…
