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Economy

A disastrous month for home loans. “We have a market collapse, which is slowly turning into an apocalypse”

According to the Credit Information Bureau, in August 2022, compared to August 2021, there was a decrease in both the number (-68.8%) and the value of housing loans granted (-69.3%). The average value of a housing loan granted was PLN 327.47 thousand. PLN and was lower by -1.6% on an annual basis. – For housing loans, August, like July this year, was catastrophic – says prof. Waldemar Rogowski, the main analyst of the BIK Group. – The market devoid of steroids in the form of ultra-low interest rates is falling into the abyss and the bottom is not visible – he adds.

– For housing loans, August, like July this year, was catastrophic. In terms of numbers, there has not been such a bad result for over 12 years, i.e. from January 2010, because in August banks awarded only 7.4 thousand of them. The value of mortgages granted in August: PLN 2.426 billion is also the lowest result since January 2010. So we have a collapse on the housing loan market, which is slowly turning into an apocalypse – says prof. Rogowski, quoted in the release.

When analyzing the situation in the individual amount ranges determining the value of the housing loan granted, in the period January – August 2022 a large differentiation can be seen. The smallest drops in sales of housing loans concerned loans exceeding PLN 500 thousand. PLN, in terms of numbers (-22.4 percent) and value (-20.3 percent). However, the largest drops occurred in loans up to 150 thousand. PLN – respectively (-49.6%) and (-48.1%) – the Credit Information Bureau informed.

Source From: Gazetakrakowska

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