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Home loan demand lifting: AFG

10 July 2019 4:36PM
Mortgage aggregator AFG has called the "first signs of recovery in the home loan market" after enjoying a 12 per cent jump in lodgements in the June quarter.AFG brokers lodged A$13 billion of loan applications during the quarter. While it was a big increase quarter on quarter, the June quarter figures were 11 per cent down on the same period last year.AFG said smaller lenders were driving much of its activity, with non-majors accounting for 42 per cent of lodgements during the quarter - up from 40.8 per cent in the same period last year.Non-majors accounted for 34.6 per cent of first home buyer lodgements - the first time they have captured more and one-third of that segment.Average mortgage size was an all-time high of close to $515,000.The proportion of investor loans was the highest in a year, at 28 per cent.Macquarie Bank did a lot more business with AFG over the past year, with its share growing from 5.3 per cent to 9.7 per cent over the past year. Macquarie had a bigger share of AFG's business than ANZ (at 8.5 per cent) and NAB (7.3 per cent).Commonwealth Bank (including Bankwest) increased its share from 20.3 per cent to 25.1 per cent, while Westpac's share (including its subsidiaries) fell from 16.9 per cent to 15 per cent.AMP's share grew from 1.8 per cent to 2.4 per cent, while ING's share fell from 4.5 per cent to 4 per cent.

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