Broker market share continues to climb

by Julia Corderoy17 Aug 2015
Brokers were responsible for over two thirds of the growth in the mortgage market in the year to June 2015.

The research, conducted by comparator and commissioned by the MFAA, showed that brokers were responsible for 66.3% of new mortgage growth in the 2015 financial year. Out of the $46 billion total increase in mortgage lending recorded by the Australian Bureau of Statistics, brokers originated $30.5 billion.

“The $30.5 billion growth compared to last financial year indicates that customers continue to select brokers for their lending needs,” MFAA CEO Siobhan Hayden said.

Over the June 2015 quarter, brokers settled $47.2 billion of retail residential loans, which contributed to a 6% increase on the previous financial year. 

The total broker market share for the 2015 financial year was 51.3%, up from 48.3% in the previous financial year. 

“The industry has continued to receive increased consumer support as indicated by the growth in both volume and market share over the past 12 months,” Hayden said.

“These economic indicators refute some of the commentary in our sector as the customer votes with their feet and selects brokers reflecting the positive experience that they are receiving.”
 

COMMENTS

  • by Leonard Brown 2/09/2015 9:06:42 PM

    Do you have the percentages relating to the top brokerages as part of the overall percentage.

  • by Harold Spencer 3/09/2015 12:11:37 PM

    Hey Leonard what is a "top brokerage" and how do you identify that category. $ settled, conversion ratio, number of deals, only the ones who enter the top 100. Sounds like how long is a piece of string.