Press release
Leading Growth Driver in the Home Equity Lending Market in 2025: Growth In Residential Properties Drives Expansion Of The Home Equity Lending Market Driver's Influence
Home Equity Lending Market Share
The growth of the home equity lending market is predicted to be fueled by the rise in residential properties. These are real assets providing living accommodations like single-family homes, apartments, and condos. The surge in residential properties is due to factors such as infrastructure advancement, changes in zoning laws, closeness to workplaces, a shift towards owning homes, and general inflation. Home equity lending contributes to the value of residential properties, enabling homeowners to access the increased value of their property and use the funds for improvements, consolidations, or other requirements. This, in turn, boosts the property's worth and market appeal. For instance, the Australian Bureau of Statistics, a government agency in Australia, reported in March 2024 that the number of private new home dwellings had risen to 30,992, exhibiting a 3.7% growth since December, and a 14.6% increase since March 2023. Additionally, private and other residential completions escalated to 14,844 dwellings, marking a 5.6% rise in comparison to December 2023. Thus, the upsurge in residential properties has catalyzed the expansion of the home equity lending market.
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What is the projected compound annual growth rate (CAGR) of the home equity lending market from 2025 to 2034, and what factors influence it?
The home equity lending sector has experienced consistent growth over recent years. The market will escalate from $29.23 billion in 2024 to $30.58 billion in 2025, achieving a compound annual growth rate (CAGR) of 4.6%. Factors contributing to this historic growth include rising property prices, heightened demand for collateral as a risk mitigation tactic by banks, a relative increase in housing market prices, population growth, and an increase in homeowner equity in the real estate sector.
Expectations are high for the home equity lending market as it is projected to experience significant growth over the next few years. The market will potentially increase to $36.18 billion by 2029, with a compound annual growth rate (CAGR) of 4.3%. The anticipated growth during this forecast period can be linked to the trend of remote working, surge in real estate prices, increased demand for home renovation and rising residential properties, coupled with a boost in disposable income. Looking ahead, the sector's trends are likely to be driven by technological advancements and fintech innovations. The adoption of cloud banking software, improvement in the home equity borrowing process, and incorporating data-driven AI and ML tools for automating banks' decision-making process will play significant roles.
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What are the emerging trends shaping the future of the home equity lending market?
Leading firms in the home equity lending market are concentrating on the adoption of sophisticated solutions like eVault technology-powered real estate finance solutions. These advancements aim to make the loan application process more efficient, improve the client experience, and offer flexible financial options that cater to a variety of borrowers' requirements. Notably, eVault technology optimizes the handling of electronic loan documents in terms of efficiency, security, and compliance, making the lending process easier and safer for both lenders and borrowers. As an example, in May 2022, Wolters Kluwer N.V., a Dutch information services corporation, introduced its OmniVault for Real Estate Finance solution. This system guarantees adherence to legal standards while providing a digitally sealed audit trail, improving the safety and traceability of digital transactions. The revolutionary platform utilizes eVault technology to promote digital home equity lending, specifically for Home Equity Lines of Credit (HELOCs), home equity loans, as well as traditional, government-supported, and jumbo initial mortgages.
What are the major segments of the home equity lending market and their role in driving growth?
The home equity lendingmarket covered in this report is segmented -
1) By Type: Fixed Rate Loans, Home Equity Line Of Credit
2) By Deployment: Online, Offline
3) By Service Provider: Banks, Online, Credit Union, Other Service Providers
Subsegments:
1) By Fixed Rate Loans: Standard Fixed Rate Home Equity Loans, Home Equity Loans With No Closing Costs, Short-Term Fixed Rate Loans, Long-Term Fixed Rate Loans, Second Mortgages
2) By Home Equity Line Of Credit (HELOC): Traditional HELOCs, Interest-Only HELOCs, Variable Rate HELOCs, Fixed-Rate Conversion HELOCs, HELOCs With Draw Period Options.
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Which regions are key players in the growth of the home equity lending market?
North America was the largest region in the home equity lending market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the home equity lending market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the home equity lending market?
Major companies operating in the home equity lending market are Bank Of America Corporation, HSBC Holdings PLC, Toronto-Dominion Bank, BMO Bank N.A., U.S. Bancorp, PNC Financial Services Inc., Discover Financial Services Inc., Citizens Financial Group Inc., M&T Bank Corporation, Regions Financial Corporation, Key Corp Limited, Rocket Mortgage LLC, Navy Federal Credit Union, HomeBridge Financial Services Inc., New American Funding Inc., Zillow Group, LoanDepot LLC, PenFed Credit Union, Simmons First National Corporation, Network Capital Funding Corporation, Spring EQ LLC
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What Is Covered In The Home Equity Lending Global Market Report?
•Market Size Forecast: Examine the home equity lending market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the home equity lending market for a structured understanding.
•Key Players Overview: Analyze major players in the home equity lending market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the home equity lending market.
•Segment Contributions: Evaluate how different segments drive overall growth in the home equity lending market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the home equity lending market.
•Industry Challenges: Identify potential risks and obstacles affecting the home equity lending market.
•Competitive Landscape: Review strategic developments in the home equity lending market, including expansions, agreements, and new product launches.
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