Highlights
New Loans
Sale settlements with a new loan in Sep-22 were down 5.3% on Aug-22, and down 21.6% on Sep-21.
Refinances
Refinance settlements were down 4.7% on Aug-22, and 10.0% higher YoY.
Trends
Major banks gained in new loans in Sep-22 pushing them into a net-positive position from a net-negative one in Aug-22.
NOTE: Loan figures quoted include all residential and commercial settlements unless otherwise stated. Any non-monetary settlements such as family transfers or gifts have been excluded.
New loans
Total:Sep-22 was down 5.3% on Aug-22, and down 21.6% on Sep-21.
Residential / commercial
- Residential new loans were down 5.0% MoM, and down 22.2% YoY.
- Commercial new loans were down 11.5% MoM and down 7.3% YoY.
Greater Brisbane / rest of QLD
- Greater Brisbane Area new loans were down 2.0% MoM in Sep-22, a 22.6% decline YoY.
- Rest of QLD was down 8.5% MoM and 20.5% decline YoY.
Refinances
- Sep-22 was down 4.7% on Aug-22, and 10.0% higher YoY.
Wins & losses
New loans
- Major banks gained in new loans in Sep-22 pushing them into a net-positive position from a net-negative one in Aug-22.
- Non-major banks’ net-positive position in new loans shrank significantly in Aug-22.
Tip: Wins / losses (new loans) shows the net increase or decrease in mortgages each month for lenders. The calculation takes the total number of new mortgages and subtracts the total number of discharged mortgages for properties that settled in that month. Importantly, it only includes property sale settlements (not refinances) and excludes properties not part of a sale (e.g. if the loan is completely repaid and the mortgage is discharged). ‘Major banks’ include their sub brands and subsidiaries.
Refinances
- Major banks’ net-negative position in refinances shrank further in Sep-22.
- Non-major banks’ net-positive position in refinances shrank further in Sep-22.
Tip: Wins / losses (refinances) shows the net increase or decrease in mortgages each month for lenders. The calculation takes the total number of new refinances and subtracts the total number of discharged mortgages for properties that have refinanced in that month. It only includes property refinance settlements (not sale settlements) and excludes properties not part of a refinance (e.g. if the loan is completely repaid and the mortgage is discharged). ‘Major banks’ include their sub brands and subsidiaries.
Disclaimer
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