XN000022-1994-02-25 — Page 8

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