Banking Uncovered Episode 14: Affordability, sustainability, customer experience and the future of home loans

The property market is experiencing a wave of change, from the recovery of UK lending and the US market emerging from a ‘hibernation period’, to falling housing values in Australia and New Zealand. The dynamics worldwide are shifting.  

RFI research and insights shows UK confidence rising, and over a quarter of homeowners in Australia expected to make additional mortgage repayments within the next year, highlighting improving financial sentiment. This trend, alongside advancements in energy-efficient housing and government incentives for carbon neutrality, is transforming how affordability and sustainability are addressed globally.   

In this episode of the Banking Uncovered Podcast, co-host Chloe James, speaks to Lisa Claes, CEO of CoreLogic International, a leading global provider of property data and insights. They unpack the evolving dynamics of property markets in the US, UK, Australia, and New Zealand, shedding light on what is driving change and what’s next for the home loan sector in each market. Lisa shares her expert perspective on the home loan market in 2024, what to expect in 2025 and why banks and institutions should shift the narrative to focus on “what customers own, not what they owe”.  

Topics discussed include:    

• Housing market dynamics in the US, UK, Australia, and New Zealand, regional differences and recovery patterns 
• Why it is important to talk to customers about what they own, not what they owe 
• The rebound in UK lending after it nearly dried up 18 months ago. 
• Insights into the recovery of consumer confidence, despite the cost-of-living crisis; RFI Global data shows that over a quarter of Australians plan to increase mortgage repayments in the next year 
• The variation in levels of home ownership and legislation by country; 77% of US households say they would never take out a mortgage with a variable interest rate 
• The role of banks and financial institutions in educating consumers 
• Affordability pressures, including the 12-13 years it takes the average earner in Sydney to save for a median-priced home, despite assistance from ‘The Bank of Mum and Dad’.