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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Mortgage Choice Limited    MOC   AU000000MOC5

MORTGAGE CHOICE LIMITED

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Mortgage Choice : New data from the Australian Bureau of Statistics (ABS) has revealed that home loan demand rose in November 2019.

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01/15/2020 | 11:58pm EDT

January 16, 2020

New data from the Australian Bureau of Statistics (ABS) has revealed that home loan demand rose in November 2019.

The latest data (5601.0) from the ABS reveals that in seasonally adjusted terms, there was a 2% decrease in the number of home loans to owner-occupiers over the month of November. According to the ABS, 39,661 home loans to owner-occupiers were approved throughout the month of November.

The value of loans to owner-occupiers (excluding refinance) rose 1.6% over the month of November and was up 10% year on year.

This increase in the value of loans is consistent with CoreLogic's Hedonic Home Value Index, which revealed that national dwelling values grew 1.7% over the month of November. The ABS data revealed an increase in the value of loans to investors throughout the month of November, rising 2.2% from October 2019. The value of loans to investors was up 1.6% year on year.

Mortgage Choice Chief Executive Officer Susan Mitchell said, 'The data from the ABS was largely expected. The November data reveals a solid gain across investors, owner-occupiers and first-time buyers. The growth in the value and number of housing finance commitments is consistent with the turnaround in the housing market in the second half of 2019.

'The increased activity in the housing market is being driven in part by competitive home loan interest rates and a lowering of serviceability assessment rates.

'Interestingly, the ABS data reveals there was a decline in the number of loan commitments to first home buyers throughout the month of November, however the value of loans to first home buyers is up 2.1% over the month and almost 20% year on year.

'The fall over the month may be because first-time buyers were holding back from putting their buying plans in action as they waited for the Government's First Home Loan Deposit Scheme to become available in January,' added Ms Mitchell.

'I am eager to see what the ABS data will reveal as we head into 2020. If the last few weeks are anything to go by, I suspect we may see an increase in demand from the owner-occupier and first home buyer segments as first-time buyers have rushed to reserve places in the First Home Loan Deposit Scheme,' concluded Ms Mitchell.

Disclaimer

Mortgage Choice Limited published this content on 16 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 January 2020 04:57:07 UTC

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Sales 2020 168 M 120 M 120 M
Net income 2020 12,0 M 8,59 M 8,59 M
Net Debt 2020 - - -
P/E ratio 2020 7,20x
Yield 2020 6,94%
Capitalization 89,4 M 64,1 M 64,0 M
Capi. / Sales 2020 0,53x
Capi. / Sales 2021 0,55x
Nbr of Employees -
Free-Float 59,1%
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Average target price 1,00 AUD
Last Close Price 0,72 AUD
Spread / Highest target 38,9%
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NameTitle
Susan R. Mitchell Chief Executive Officer
Vicki Lee Allen Independent Non-Executive Chairman
Ian Parkes Chief Financial Officer
Vincent C. Ten Krooden GM-Technology & Head-Information Technology
Peter Gordon Higgins Non-Executive Director
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