The mortgage broking channel is showing no sign of slowing down, with the latest broker share in Australia's home loan market reaching another record high.
In the June 2026 quarter, mortgage brokers Down Under facilitated 81.6% of all new residential home loans, up from 81% in the March quarter, and up from 77.6% a year earlier, according to data collected from research firm Cotality and commissioned by the Mortgage & Finance Association of Australia (MFAA).
"Brokers are just part of the DNA of how Australians navigate their financial life. And I think that's here to stay," Anja Pannek, chief executive officer of the MFAA, told Australian Broker.
“This result is a clear sign of how Australians now choose to access home lending and the value they see in having someone in their corner," Pannek continued.
“Australia is one of only three countries globally, alongside the United Kingdom and the Netherlands, where mortgage brokers facilitate more than 80% of mortgage lending," she added.
The report also found that mortgage brokers settled $139.08 billion in new home loans during the quarter. That's equal to an increase of $17.49 billion from the previous year.
The continued increase in broker market share comes as borrowers face an increasingly complex lending landscape, with elevated interest rates, (and the prospect of more rate rises on the horizon), persistent inflation, rising living costs, a nationwide housing shortage, a new federal budget, global uncertainty and a growing number of lenders competing for business. Together, these factors have made the process of securing a home loan more complicated than ever.
But Pannek said that complexity is precisely why brokers play such an important role in the industry.
"The reality is that Australians, whether they're feeling positive about their financial outlook or they've got concerns about their financial outlook, continue to seek out brokers," Pannek said. "And the story behind that is that they want someone who can give them trusted advice and guidance and really work through the noise.
"We live in a world where there's more information than ever and even with the advent of AI, we can go and research a whole lot of things.," the CEO continued. "But what we know is when it comes to those really big life decisions and those questions, people want the advice and guidance of an expert."
That appetite for guidance comes as the industry is also undergoing a transformation. The gains in broker market share come as some lenders ramp up their direct channels, raising questions about the long-term role of mortgage brokers in Australia.
National Australia Bank (NAB) grew its share of new lending to 50.9% in the third quarter, or the three months ending 30 June, up from 50% in March. In May, the major also revealed that it had hired roughly 270 new bankers in its proprietary lending division during the 2025 financial year, up from previous estimates of 150 proprietary lenders.
Westpac's proprietary lending also increased to 34% in the six months ending 31 March, up from 32% a year earlier. Commonwealth Bank of Australia (CBA) has also shifted its focus toward direct lending, with home loans making up nearly 70% of its proprietary flow last spring. The bank has noted that broker-originated loans are 20% to 30% less profitable than those written directly. Last year, Bank of Queensland (BOQ) also said it was stepping up efforts to reduce reliance on the broker channel and bring more lending in-house.
On the reverse end, Macquarie Bank is leaning into its third-party broking network, while ANZ's proprietary lending network slipped in the first half of 2026. At Macquarie, more than 95% of new mortgage originations in the past year were sourced via the broker channel.
Despite the divide at individual lenders, Pannek said the numbers speak for themselves, with borrowers growing increasingly aware of how much brokers have to offer.
"What we've seen is that consumers realise the value of working with a broker because they've got access to a broad range of lenders that you wouldn't get otherwise," she explained. "And the broker is going to bat for you; once you're their client, they will work on your behalf to even negotiate a rate with your existing lender without you needing to get involved, without you needing to refinance, if there's no need for you to do so.
"I think the value proposition of a broker is becoming more and more well understood across the Australian community," Pannek added.
