FRIDAY, FEBRUARY 25, 1994
RESIDENTIAL MORTGAGE SURVEY RESULTS FOR JANUARY
THE AUTHORISED IN JANUARY (0.7
THE AMOUNT OF RESIDENTIAL MORTGAGE LENDING BY INSTITUTIONS (AIS) IN A SURVEY ROSE BY 1.2 PER CENT PER CENT IN DECEMBER 1993) FROM $219.2 BILLION TO $221.7 BILLION.
STARTING FROM JANUARY, ALL SURVEY RESULTS WILL BE BASED
SAMPLE
33
WIDER
AIS OF RESIDENTIAL MORTGAGE MARKET.
WHICH COVER
94 ABOUT
PER
ON A
OF CENT
THE
THE THREE-MONTH MOVING AVERAGE OF OUTSTANDING LENDING HAS RISEN THREE- TO 12 PER CENT (ANNUALISED), COMPARED WITH 7.1 PER CENT IN THE MONTH PERIOD TO DECEMBER 1993.
THE
AVERAGE OF OUTSTANDING
LENDING STANDS 12-MONTH ANNUALISED 16.1 PER CENT, HAVING RISEN FROM 15.3 PER CENT IN 1993.
"
AT DECEMBER
AN
RENEWED THE
OF INDICATIONS PROVIDE CLEAR "THE JANUARY FIGURES ACCELERATION IN LENDING, THE DEPUTY CHIEF EXECUTIVE (BANKING) OF HONG KONG MONETARY AUTHORITY, MR DAVID CARSE, SAID TODAY (FRIDAY).
"THIS IS REINFORCED BY THE FACT THAT NEW LOANS APPROVED BUT NOT TO YET DRAWN SURGED BY 71 PER CENT IN JANUARY 1994 FROM $3.8 BILLION $6.5 BILLION, WHICH IS THE HIGHEST AMOUNT SINCE JULY 1993.
I EXPECT TO SEE A STRONG "JUDGING FROM THESE FIGURES, IN LENDING IN THE COMING MONTH.
INCREASE
LENDING AND, THE
"THE
HKMA CONTINUES TO URGE CAUTION IN MORTGAGE INDEED, IN PROPERTY LENDING GENERALLY. I HAVE RECENTLY WRITTEN TO
ΤΟ MAKE THAT INDUSTRY
AND TO INDIVIDUAL INSTITUTIONS ASSOCIATIONS POINT," MR CARSE ADDED.
AS REGARDS LENDING FOR THE PURCHASE OF PROPERTIES IN CHINA, THE $3.7 LATEST FIGURES SHOW THAT SUCH LENDING ROSE BY 1.6 PER CENT TO
INCREASE BILLION TN JANUARY 1994. EIGHTY-EIGHT PER CENT OF THE ACCOUNTED FOR BY LOANS FOR THE PURCHASE OF RESIDENTIAL PROPERTIES.
WAS
FROM
GROSS LOANS MADE IN JANUARY FELL BOTH IN NUMBERS (TO 307 591) AND IN AMOUNT (TO $116 MILLION FROM $277 MILLION) WHILE NEW LOANS $198 APPROVED ROSE BOTH IN NUMBER (TO 435 FROM 348) AND IN VALUE (TO MILLION FROM $167 MILLION).
/Residential Mortgage