Banks and credit unions granted 27.2% less housing loans in terms of numbers in March 2022, the Credit Information Bureau (BIK) reported. In terms of value, there was a decrease by 18.2%.
In the entire Q1 2022, the number of such loans decreased by 19% y / y, and their value decreased by 8.2% y / y.
Average value of a housing loan granted in March this year. was 345.02 thous. PLN and was higher by 12.2% y / y, which corresponds approximately to the average annual dynamics of real estate prices.
When analyzing the situation in the individual amount ranges determining the value of the housing loan granted, in the period from January to March 2022 a large differentiation can be seen. The positive sales dynamics of housing loans, both in terms of number and value, related only to loans in the range of over PLN 500,000. PLN, in terms of numbers (+ 24.1%) and (+ 29.3%) in terms of value. In the remaining ranges, both in terms of numbers and values, the dynamics are negative, it was stated.
“In terms of value, the situation is also not good. As the results of March are lower compared to March 2021 (-18.2%). The market is therefore also falling in terms of value. compared to February this year, it is at the same level,” said the chief analyst of the Credit Information Bureau, Waldemar Rogowski.
He pointed out that in February this year. the number of applicants increased, and in March this year it even exceeded 53,000, setting the second record result in the last ten years. According to him, this is important in terms of lending in April, as this month may be “quite successful” in terms of both the number and value of loans granted.
“In my opinion, the following months will be one of the most interesting in the history of the Polish housing loan market, the very good result in March regarding the number of people applying for a housing loan, which will probably have a positive impact on lending in April and May, may be the last positive factor on the loan market. housing in the current cycle,” said the analyst.
The monthly reading of the Quality Index of the housing loan portfolio in March 2022 was 0.55%. In the last 12 months (from March 2021 to March 2022), the quality of the portfolio has slightly improved, as evidenced by a decline in the Index by (-0.03 percentage points).
Source: BIK and ISBnews
