Interest in home loans still drops
22:33
Banks and SKOKs sent requests for housing loans to the Credit Information Bureau (BIK) in October for an amount 68.7 percent lower than a year earlier, the Bureau reported. The number of applications fell by 67.2 percent y/y, while on a monthly basis it fell by 4.1 percent.
The average value of a home loan applied for in October this year was PLN 336,660, down 4.5 percent on both the October 2021 figure and down 0.3 percent on the September 2022 figure.
"In October, we again returned to declines in both the number of applicants and the average amount of credit applied for, and in both y/y and m/m terms. Compared to October last year, we have large declines. Although not the lowest in the measurement's history, the October Index value is still one of the lowest in the entire 14-year history of the measurement. The October Index value was negatively impacted by more than 67 percent fewer applicants than a year ago. This is the second lowest score since January 2007, after the negative record in August," Waldemar Rogowski, chief analyst at BIK Group, said.
