VIC Mortgage Insights  - October 2022
Data & Insights

VIC Mortgage Insights - October 2022

By PEXA Insights • Oct 2022 • 5 mins


New Loans

Sale settlements with a new loan in Sep-22 were down 2.7% on Aug-22, and down 10.2% on Sep-21.


Refinance settlements were down 5.7% on Aug-22, and 4.4% 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. 

New loans

Total: Sep-22 was down 2.7% on Aug-22, and down 10.2% on Sep-21. 

Residential / commercial

  • Residential new loans were down 3.3% MoM, and down 10.3% YoY.
  • Commercial new loans were up 9.6% MoM and down 7.6% YoY. 

Greater Melbourne / rest of VIC

  • Greater Melbourne Area new loans were down 3.0% MoM in Sep-22, a 10.7% decline YoY.
  • Rest of VIC was down 1.6% MoM and 8.3% decline YoY. 


  • Sep-22 was down 5.7% on Aug-22, and 4.4% lower YoY. 

Wins & losses

New loans

  • Non-major banks’ net-positive position increased sharply compared to Aug-22.
  • Major banks’ net-positive position remained roughly flat 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. 


This report provides general market information and is not intended to be an investment report, nor does it constitute financial product advice. The data used in this document is a combination of PEXA data and data acquired from third parties. Any opinions, conclusions or recommendations in this document are based on the information available at the time of its compilation. No representation or warranty, either expressed or implied, is made or provided as to the accuracy, reliability or completeness of any statement made in this document. Any opinions, conclusions or recommendations in this document are subject to change (without notice) and may differ or be contrary to the opinions, conclusions or recommendations expressed by other analysts. Any valuations, projections and forecasts here in are based on a number of assumptions and estimates and are subject to contingencies and uncertainties. Different assumptions and estimates could result in different results. PEXA does not represent or warrant that any valuations, projections or forecasts, or any of the underlying assumptions or estimates, will be met. PEXA is under no obligation to, and does not, update or keep current the information contained in this document. PEXA accepts no liability for any loss or damage arising out of the use of all or any part of this document. All material presented in this report, unless indicated otherwise, is subject to PEXA’s copyright. None of the content may be altered in anyway, transmitted to, copied or distributed to any other party, without PEXA’s prior written permission. 

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