2021-11-24 07:08, act 2021-11-24 08:18
The value of housing loans granted in October 2021 in Poland increased by 46.8%. yoy and amounted to PLN 8.635 billion, the most in history – the Credit Information Bureau (BIK) reported.
According to the BIK credit newsletter, summarizing data on loan sales in Poland, in October 2021 compared to October 2020, in numerical terms, banks and credit unions granted more than two types of loan products: o (+27.3 percent) more housing loans and (+26.2%) cash loans.
A decrease of 24.4 percent. recorded limits on credit cards and installment loans (-10.3%). In terms of value, banks and credit unions granted a higher value in three loan products: o (46.8%) housing loans, o (34.3%) cash loans and (6.4%) installment loans. For the lower value (-5.1%), the banks granted card limits. In the period of ten months of 2021, banks and credit unions granted a total of 2 994.2 thousand. installment loans (+3.4%) in the amount of PLN 14.10 billion (+ 19.6%) and PLN 2,644.5 thousand cash loans (+18.7%) in the amount of PLN 56.26 billion (+29.0%).
BIK data shows that the monthly lending activity on the housing loan market exceeded PLN 8.5 billion, which is another historic record.
“In October this year, compared to October 2020, the housing loan market recorded not as spectacular as in August, but still very high positive dynamics of both the value (+46.8%) and the number of loans granted (+27 , 3 percent) “- BIK pointed out, emphasizing that in the period January – October 2021 already more than half (56.6 percent) of the value of loans granted are loans with an amount exceeding 350 thousand. PLN, and the loans themselves above 500 thousand. PLN are 27.5 percent. total lending and this share is growing every month.
As reported, the dynamics of loan sales is growing the most, in two ranges: from 350,000 to 500,000. PLN and above 500 thousand. PLN, respectively in terms of numbers (+47.6%) and (+90.6%) and value (+48.7%) and (+96.1%). In the remaining ranges, both in terms of numbers and value, the dynamics did not exceed 25%.
BIK noted that the October housing loan results reflect the demand from August and September 2021.
“For housing loans, October last year was the best month since the beginning of the pandemic in terms of the number and value of lending (22.8 thousand PLN 6.80 billion). Lending exceeded the level from before the pandemic (+4.1 percent year on year in terms of numbers and +11.8% in terms of value.) The high dynamics in October 2021 is therefore not a result of the lower base from October 2020. The reason is the record value of lending in October 2021. another historic record. For the first time in history, monthly lending exceeded PLN 8.63bn. Moreover, it is worth noting that October is the eighth month in a row with a monthly lending value of over PLN 7.5bn, and the second month with sales of more than PLN 8 billion zlotys “- assessed Waldemar Rogowski, chief analyst of the Credit Information Bureau, quoted in the newsletter.
October this year. this is another month in which housing loans record high positive sales dynamics. The boom in high-value housing loans continues. This is visible in the average value of the loan granted, which in October 2021 reached another record value, i.e. 340.15 thousand. PLN and was higher by 15.3 percent. from the average for October 2020
According to Rogowski, the source of such a good economic situation on the housing loan market is both the still high demand for loans and the greater willingness of banks to grant housing loans, especially large-value loans, visible in the loosening of the requirements for, inter alia, own contribution. On the other hand, the increase in the average amount of a housing loan is a direct effect of a further increase in real estate prices.
“In my opinion, the coming months will be very interesting on the housing loan market, as the value of lending will be affected by two opposing phenomena. On the one hand, it is highly probable that the upward trend in real estate prices will continue, which will result in the necessity to take out even higher loans. However, be difficult due to two factors that negatively affect creditworthiness. The first of them are higher interest rates after the October and November increases. The second factor is limiting the loan period to 25 years for the purposes of estimating creditworthiness, in line with the KNF Recommendation, ” Rogowski. (PAP)
author: Małgorzata Werner-Woś