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Monthly Mortgage Insights 

NSW - May 2022

Highlights

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    New Loands

    Sale settlements with a new loan in Apr-22 were down 7.2% on Mar-22, and down 17.5% on Apr-21.

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    Refinances

    Refinance settlements were down 12.5% on Mar-22, and 7.2% higher YoY.

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    Trend

    Major banks had a net-positive position in new loans but saw their wins shrink. Major banks also saw their net-negative position in refinances shrink slightly compared to Mar’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

  • Apr-22 was down 7.2% on Mar-22, and down 17.5% on Apr-21.
 

Residential / commercial

  • Residential new loans were down 3.7% MoM, and down 14.2% YoY.
  • Commercial new loans were down 35.8% MoM and down 43.6% YoY.
 

Greater Sydney / rest of NSW

  • Greater Sydney Area new loans were down 3.3% MoM in Apr-22, a 15.8% decline YoY.
  • Rest of NSW was down 13.4% MoM and 20.2% decline YoY.
 

Refinances

Apr-22 was down 12.5% on Mar-22, and 7.2% higher YoY.

 

Wins & losses

New loans

  • Non-majors grew their net positive position in new loans, while major banks also had a net-positive position in new loans but saw their wins shrink.
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 saw their net-negative position in refinances shrink slightly compared to Mar’22.
  • Non-majors saw their wins in refinances shrink slightly, though they remained in a net-positive position.
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.
 

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Disclaimer 

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.