excellent point. Comparisons with the US banking sector are very misleading for this very reason. As mortgage holders are running off their fixed rate loans and being moved to current rates, the banks are laughing. Although true housing market has stalled and the net growth in new mortgages won’t be great for any bank, they’ll still manages their loan book to get good returns.
Overall, our housing market is in short supply, and as migration starts to ramp I think we will see a return to growth next year just on the issues of short supply and increasing demand. Should result in some nice dividend growth into 24.
cheers,YS
excellent point. Comparisons with the US banking sector are very...
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