The latest study on the reverse mortgage market in Australia conducted by Deloitte Actuaries and Consultants has revealed a growing appetite for equity release products. The study found that there was an increase of 4% in the six months from 30 June 2009 and 9% growth in the 12 months from 31 December 2008 of reverse mortgages written.
The study by Deloittes also found the size of each loan is growing – from $51,148 in December 2005 when SEQUAL initiated the first study, to the current $70,000 as at 31 Dec 2009.
The study by Deloittes also found the size of each loan is growing – from $51,148 in December 2005 when SEQUAL initiated the first study, to the current $70,000 as at 31 Dec 2009.
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