Macquarie leads mortgage growth, Westpac lags majors

by 02 Dec 2013
Macquarie Bank recorded over 20% growth in its mortgage book in the past year, while ANZ and NAB continue to lead the big four banks in growth.

According to the latest APRA statistics, the non-major bank recorded a total 23.3% increase in the past 12 months.

ANZ and NAB took the largest share of the $3.8 billion of housing loans sold in the past month, however.

Of the big four, ANZ and NAB saw the fastest growth in the past year – increasing their mortgage book by 7.1% and 6.9% respectively.

Commonwealth Bank also hit above system growth with a 5.8% growth rate.

Despite its declared intention of returning to system growth, Westpac saw growth of 0.3% in October, compared with system growth of 0.5%.

Other non-major lenders also recorded strong growth in the past year, with HSBC growing 8.6% in the past 12 months, and Suncorp hitting 7.2% growth.

Reserve Bank figures released on Friday show that the annual rate of growth in housing finance aggregates has increased from 4.4 per cent at the start of the year to five per cent in October.

Investors are driving the growth. The value of investor housing loans increased by 0.6 per cent in October and by 6.4 per cent in the 12 months to October.

COMMENTS

  • by Rocket Scientist 2/12/2013 11:51:07 AM

    No surprises there with Westpac lagging it's peers. A less than average service will always result in less than average sales figures. It's not rocket science!

  • by Eric 3/12/2013 7:44:51 AM

    Nice, more growth on the non big 4 please to create a competitive market.

  • by PHKM 3/12/2013 5:26:01 PM

    Westpac offer of increased commissions for brokers has had no effect by the looks of it. A legacy of many years of neglecting the third party channel...