The value of new housing loans drawn down in June increased slightly, by 2.7% to $5.3 billion. The value of new approvals increased sharply, though, by 25.8% to $6.8 billion

The growth of primary market transactions rose by about 52% in value and 45% in number terms. The number of applications for new loans registered an increase of 20.4%.

The proportion of new approvals priced at more than 2% below the best lending rate was 92%, more or less the same as in May. 

The amount of outstanding mortgage loans declined further, by 0.5% to $523.5 billion. 

The mortgage delinquency ratio decreased to 1.12% from 1.16%, but the rescheduled loan ratio increased to 0.53% from 0.48%. The combined ratio increased slightly, to 1.65% from 1.64%.

"This indicates that banks have been stepping up their efforts to assist borrowers in financial difficulties by being accommodating on restructuring," said David Carse, the Hong Kong Monetary Authority's Deputy Chief Executive. 

New loans drawn down for purchasing properties in the Mainland fell by 12.8% to $95 million. The amount of outstanding loans at the end of June was $6.3 billion.