The end of the summer, notably the month of September, was a positive period for mortgages in Italy during the COVID-19 pandemic, according to the latest report on Italian credit prepared by Experian. According to the information centre listed on the LSE, the main economic indicators showed results exceeding both pre-COVID and September 2019 levels.
In fact, the growth of the indicators taken into consideration in Italy continued with respect to the months of lockdown: applications for mortgages (+59%), specific item credits (+278%) and personal loans (+102%) all increased. A trend that is confirmed to be positive, albeit with lower percentages, even in the pre-COVID months: mortgages at +3.35%, specific item credits at +6% and personal loans at +9%.
Historically, the month of September has been experienced as a new beginning of the year, and after the summer break there are very often more positive figures. It is not surprising, therefore, that the figures have grown considerably since August 2020: +21% for mortgages, +42% for specific item credits and +58% for personal loans.
The comparison with September 2019 is less obvious. If mortgages and specific item credits confirm positive data, respectively +29% and +6%, personal loans still fail to reach the figures for the same month last year (-31%). These figures are also set to continue into the autumn, but with the coronavirus pandemic still isn full flow, things are always subject to change.
Generation X (1960-1980) remains the driving force in relation to all the financial instruments examined. This generation is responsible for 49% of loan applications, 51% of specific item credit applications and 48% of personal loan applications. At a geographical level in Italy, Lombardy is the leader in mortgage and personal loan applications, while for specific item credits, the Campania region leads the way.
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