Abstract
Overview
Introduction
Reverse mortgages are a way for cash-poor but asset-rich seniors to tap into
property equity, and hold strong potential, given an aging population with
insufficient retirement funds but holding significant equity. This report
analyzes the rapidly growing markets in Australia and New Zealand, identifying
factors determining growth, and forecasting future developments.
Scope
- Comprehensively covers the reverse mortgage market in Australia and New
Zealand, and briefly discusses fledgling Asian markets.
- Sizes the reverse mortgage market in Australia and New Zealand and
provides five-year forecasts under three scenarios.
- Provides competitor market shares for the major reverse mortgage lenders
in Australia and New Zealand.
- Provides competitor profiles in Australia and New Zealand.
Report Highlights
Potentially there are almost two million households in Australia that could be
eligible for a reverse mortgage. There are currently around 31,500 reverse
mortgages outstanding, which equates to around 1.6% of the potential market.
There is also significant room for growth in the average size of the loan.
The main problem for providers of reverse mortgages is the negative perception
these products are subject to. These negative perceptions go further than just
affecting potential customers. Lawyers, financial planners, consumer advocates
and the media have all been initially suspicious toward reverse mortgages.
Both the Australian and New Zealand market is experiencing a stiff competitive
climate, with shrinking margins on residential lending in general. Both
countries have seen an influx of lenders, arguably more lenders than the
current size of the market can sustain.
Reasons to Purchase
- Keeps you up to date with the dynamic reverse mortgage sector by providing
you with in-depth analysis of the major issues.
- Plan your strategy with confidence using Datamonitor' s forecasts of the
reverse mortgage market up to 2011.
- In-depth analysis of lenders' products allowing you to reassess your
product strategy.
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