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Monthly Mortgage Insights 

QLD - October 2021

Highlights

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    New Loans

    Sale settlements with a new loan in Sep-21 were up 7.4% on Aug-21, and up 30.5% on Sep-20.

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    Refinances

    Refinance settlements were up 6.1% on Aug-21, and 63.5% higher YoY.

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    Trends

    Major banks increased net new loans despite continuing to fall in refinanced loans. Non-majors continued to climb in refinances with a slight drop in new loans.

NOTE: New loans figures quoted are derived from digital settlements and have been modelled up to represent the total market. This total represents all residential and commercial properties unless otherwise stated. Any non-monetary settlements such as family transfers or gifts have been excluded. 

New loans

Total

  • Sep-21 was up 7.4% on Aug-21, and up 30.5% on Sep-20. 
 

Residential / commercial

  • Residential new loans were up 7.6% MoM, and up 41.8% YoY. 
  • Commercial was up 5.9% MoM and down 10.7% YoY. 
 

Greater Brisbane / rest of QLD

  • Greater Brisbane Area new loans were up 6.7% MoM in Sep-21, a 44.9% rise YoY. 
  • Rest of QLD was up 8.1% MoM and 17.8% rise YoY. 
 

Refinances

  • Sep-21 was up 6.1% on Aug-21, and 63.5% higher YoY. 
 

Wins & losses

New loans

  • Major banks improved in new loans, although remained in a net negative position. 
  • Non-majors showed a slight decline, remained net positive and continued to trend above the majors. 
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. Analysis only includes digital settlements captured through the PEXA exchange (excludes any paper-based settlements). 

Refinances

  • The major banks continued their declining trend, remaining in net negative territory and their worst position in the past year. 
  • Non-majors continued to grow, winning more refinanced loans than they lost. 
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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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.