Login
ISCOVER
CBA’s mortgage book grew by more than $3 billion in November, while Macquarie maintained its title as the fastest-growing home loan provider of the big banks, according to new statistics.
The Commonwealth Bank of Australia (CBA) and Macquarie Bank continue to lead the way in Australian mortgage lending, according to the latest figures from the Australian Prudential Regulation Authority (APRA).
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
The latest release of the Monthly Authorised Deposit-taking Institution Statistics shows that the total value of outstanding home loans across all banks in Australia grew by $10 billion, reaching a new high of $2.26 trillion in November 2024.
This represents an annual increase of 5.1 per cent from the $2.15 billion of mortgages on bank books in November 2023.
While all five of the country’s largest lenders reported growth, it was Macquarie and CBA that once again posted the most impressive gains of the big banks.
CBA continues to hold the title of Australia’s largest lender, growing its loan book by $3.41 billion, with a strong rise in both owner-occupier and investment loans.
CBA’s owner-occupier mortgage portfolio stood at $380.72 billion at the end of November, while investment loans account for $193.39 billion. This translates to a 0.59 per cent growth in its book over the month, the largest growth posted by the four biggest banks in Australia.
It comes as the bank continues to focus on its proprietary channel, which now originates the majority of its home lending business.
ANZ, National Australia Bank (NAB), and Westpac also all reported steady increases in their mortgage books.
-
ANZ saw its mortgage portfolio growing 0.46 per cent, to $307.24 billion, in November 2024. This was up from $305.8 billion on the month prior and was driven by a mix of owner-occupier loans, which now total $204.93 billion, and investment loans reaching $102.31 billion.
-
NAB reported a 0.43 per cent increase, with its total mortgage lending rising to $323.99 billion, up from $322.5 billion. NAB’s owner-occupier loans were valued at $214.68 billion, while investment loans reached $109.32 billion.
-
Westpac saw a more modest growth of 0.42 per cent, with its mortgage book climbing to $479.60 billion from $477.6 billion. Its portfolio includes $318.29 billion in owner-occupier loans and $161.31 billion in investment loans.
Macquarie loan book up 14% YOY
However, the fifth largest home lender in Australia – Macquarie Bank Limited – continues to beat the big four banks when it comes to its rate of home loan book growth.
According to APRA, Macquarie saw its book rise by 1.6 per cent in November 2024 – to $129.73 billion – up from $127.7 billion the previous month.
The growth was driven by a $2.03 billion rise in its portfolio, with owner-occupier loans reaching $80.66 billion and investment loans climbing to $49.07 billion.
The increase continues the strong performance of Macquarie, which has been capitalising on investor demand and benefiting from its well-positioned product offerings in the competitive Australian mortgage market.
Indeed, over the year to November 2024, its mortgage book has grown by 14 per cent.
Given that the bank has no bank branches, the vast majority of its loan book originated from the broker channel. More than 90 per cent of Macquarie home loan originations are from the third-party channel.
The lender has proven popular with brokers given its speedy turnaround times and consistent decisioning, with Agile Market Intelligence’s latest Broker Pulse survey revealing that the bank has the highest net promoter score from brokers (+78 – based on the three-month average) and the highest broker experience rating of any lender (95 per cent).
According to the November 2024 survey, 45 per cent of broker respondents had submitted a loan to Macquarie over the month, second only to ANZ (52 per cent).
Non-major lending accelerating
Outside of the five largest lenders, the APRA statistics show that the top 10 mortgage lenders in Australia also include:
- Bank of Queensland (BOQ), with a book of $57.9 billion
- Norfina Limited (the new legal name of Suncorp Bank now that it’s part of ANZ Group), with a book of $54.7 billion
- Bendigo and Adelaide Bank, with a book of $62.9 billion
- ING Australia, with a book of $62.3 billion; and
- HSBC Bank Australia, with a book of $31.8 billion.
Several of the non-majors reported strong growth in November 2024, with Qudos Bank’s mortgage book rising 1.08 per cent to $4.49 billion, Bendigo and Adelaide Bank growing 1 per cent over the month to $62.9 billion, while ING Australia grew its loan book by 0.70 per cent over the month (to $62.3 billion).
The bank with the largest home loan growth was Laboratories Credit Union Limited, whose book grew by 5 per cent over the month, albeit from a very low base. Its book grew from $213 million to $225 million.
JOIN THE DISCUSSION