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consumer credit demand

Personal loans on the rise as overall consumer credit demand continues to stabilise

Thursday, 26 October, 2023 - 10:55

Despite uncertain market conditions consumer credit demand rose slightly in the September quarter of 2023, according to the latest Equifax Quarterly Consumer Credit Demand Index (September 2023). The September quarter saw further stabilisation of retail credit demand, with solid growth in July and August, tempering through September in the run up to the election.  The growth in demand was largely driven by personal loans (up +16.7% vs the same period in 2022).

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Unsecured credit drives resurgence in consumer credit demand

Tuesday, 25 July, 2023 - 09:33

Following seven consecutive quarters of decline, consumer credit demand increased +5.3% in the June quarter of 2023 vs the same period last year. Unsecured credit demand increased markedly, up +15.1% year-on-year for the June quarter, driven by ongoing growth in credit card demand (up +16.0% vs the same period in 2022), along with strong personal loan demand (up +14.5% vs the same period in 2022). Mortgage demand dipped slightly, -1.7% in the June 2023 quarter versus the same quarter 2022.

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Consumer credit demand declines despite ongoing appetite for credit cards

Monday, 17 April, 2023 - 11:15

The March Consumer Credit Demand Index shows consumer credit demand is at its lowest point since the first Covid lockdown in 2020, despite credit card resilience. Mortgage demand dropped by a fifth compared to the same quarter last year. The data indicates a dip in consumer sentiment as consumers are concerned about taking on new spending in an uncertain and increasingly expensive environment.

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Credit demand remains soft as consumer re-financing activity hits new lows

Tuesday, 3 May, 2022 - 12:49

According to the latest Quarterly Consumer Credit Demand Index, overall consumer enquiry volumes declined for the 3rd quarter in a row, with a year-on-year reduction of 32% for the quarter ending March 2022.

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