Sale settlements with a new loan in Sep-22 were down 7.9% on Aug-22, and down 24.9% on Sep-21.
Refinance settlements were down 5.1% on Aug-22, and 7.0% lower YoY.
Major banks entered a net-positive position in refinances while non-major banks slid into a net-negative position for the first time in over a year.
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.
Total: Sep-22 was down 7.9% on Aug-22, and down 24.9% on Sep-21.
Residential / commercial
- Residential new loans were down 8.4% MoM, and down 25.7% YoY.
- Commercial new loans were up 5.6% MoM and down 4.6% YoY.
Greater Sydney / rest of NSW
- Greater Sydney Area new loans were down 12.5% MoM in Sep-22, a 25.4% decline YoY.
- Rest of NSW was up 0.3% MoM and 24.3% decline YoY.
- Sep-22 was down 5.1% on Aug-22, and 7.0% lower YoY.
Wins & losses
- Non-major banks’ net-positive position in new loans increased marginally in Sep-22, although their wins were far fewer compared to major banks.
- Major banks’ net-positive position decreased compared to 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.
- Major banks entered a net-positive position in refinances for the first time in over a year.
- Non-major banks slid into a net-negative position in refinances for the first time in over a year.
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.
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