Borrowing behaviour and lender market share

The latest AFG Index highlights that Australian homebuyers are on alert and contacting their brokers to counter rising interest rates. 

In a rising interest rate environment, your role is more important than ever. The market is competitive and with a new round of cash-back offers starting to appear, it makes sense that customers will continue to recognise that you are best placed to know what options are available to help them. 

Key insights from our data across the past three months:  

• The volume of refinancers is up from 24% to 29% 
• First Home Buyers are down to 11% of the market, their lowest level for five years 
• The national Loan to Value (LVR) Ratio is at 65.4 %, the lowest we have seen 
• Borrowers have deserted fixed rates, down from 20% to 7.7% and highs of 38% during the pandemic

The big four banks and their stable of brands have lifted 5.1% in the last quarter.  

• The Westpac group made the biggest strides, up 3.24% 
• ANZ up 2.18% 
• CBA group up 0.41% 
• NAB down 0.25% even with the addition of UBank and the takeover of 86400 from Q2 FY22 
• Among the non-majors, ING is down almost 2%, halving their market share 
• Macquarie down 1.31% 
• Suncorp continuing to perform strongly up 0.06% to 3.73% 

The big four banks and their associated brands are ahead across the country, and Queensland is the only state to have the non-majors in front, at 52.44%. 

Download full report here