Home lending hits $1.2 trillion

by AB28 May 2014
Domestic housing loans from Australian lenders have increased by 8.2% over the past year, quarterly housing statistics from APRA show.

Over the year ending 31 March 2014, ADIs recorded net profit after tax of $32.1 billion. This is an increase of $5.5 billion (20.9%) on the year before. 
ADIs’ total domestic housing loans were $1.2 trillion, an increase of $90.4 billion over the year. There were five million housing loans outstanding with an average balance of $235,000.

Loans with redraw facilities make up the largest number of loans, and the major banks are writing the highest proportion of interest-only loans.

Around 42% of loans by value came via mortgage brokers, the data shows.

Fourteen per cent of loans written in the quarter were above 90% LVR, and 21% were between 80% and 90%.


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