Powered by MOMENTUM MEDIA
subscribe to our newsletter

Non-majors outpaced big four growth in 2014

New figures from the prudential regulator have revealed Australia’s non-majors grew their residential loan books at almost twice the rate of the big four in 2014.

APRA's quarterly ADI property exposure figures released yesterday show that major banks held $1,037 billion of home loans at 31 December 2014 – an increase of 2.3 per cent on 30 September 2014 and of 8.8 per cent on 31 December 2013.

However, other domestic banks held $142.6 billion – an increase of 5.3 per cent on 30 September 2014 and 16.8 per cent on 31 December 2013.

The APRA figures – which take into account all Australian ADIs – come after one of Australia’s newest banks recorded approximately 12 per cent growth in home loans in annualised terms over the six months to 31 December.

In a trading update last week, MyState announced that it had experienced significant growth in broker settlements over the period.

Advertisement
Advertisement

PROMOTED CONTENT


Mystate CEO Melos Sulicich said the result reflected strong improvement in the group’s broker lending operations.

Mr Sulicich described the result as a “substantial achievement which exceeded the loan growth of regional and major banks”, adding that this momentum is expected to continue in the second half.

“In December 2014, our home loan settlements through the broker channel exceeded retail settlements for the first time, and our broker portfolio is growing currently at more than 20 per cent annually,” he said.

While the APRA figures reflect the volume growth of the non-majors, particularly over the later quarters of 2014, they also highlight a significant rise in investor lending across the banking sector.

Investment loans accounted for 34.3 per cent of residential term loans as at 31 December 2014.

Investment loans were $438.9 billion, an increase of $13.6 billion (3.2 per cent) on 30 September 2014 and of $47.8 billion (12.2 per cent) on 31 December 2013.

Non-majors outpaced big four growth in 2014
mortgagebusiness

Latest News

The Victorian Government will deliver “an historic” $5.3 billion Big Housing Build to construct more than 12,000 new homes throughout me...

A “more optimal” retirement income system would involve retirees “more effectively” drawing on home equity to fund their standard of...

Non-major lenders continue to be the more highly rated lenders used by brokers for both turnaround times and policy, according to the lates...

FROM THE WEB

Join a group of highly informed brokers.

Broker Pulse, a community-driven knowledge base of lender performance Reveal exactly which lenders are making life easiest for brokers and their clients by taking this monthly survey and joining a group of highly informed brokers who leverage these insights every month.

JOIN NOW
podcast

LATEST PODCAST: Responsible Lending - what could lie ahead for lenders brokers and borrowers?

Do you expect to see strong uptake of the HomeBuilder scheme?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.