IMAGE ALTERNATE TEXT

Monthly Mortgage Insights 

WA - October 2021

Highlights

  • placeholder icon

    New Loans

    Sale settlements with a new loan in Sep-21 were up 4.3% on Aug-21, and up 19.3% on Sep-20.

  • placeholder icon

    Refinances

    Refinance settlements were flat on Aug-21, and 80.0% higher YoY.

  • placeholder icon

    Trends

    Non-major financial institutions continued their strong positive net position for new loans but remain negative for refinancing.

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. However, any non-monetary settlements such as family transfers or gifts have been excluded. 

New loans

Total

  • Sep-21 was up 4.3% on Aug-21, and up 19.3% on Sep-20. 

Greater Perth / rest of WA

  • Greater Perth Area new loans were up 3.1% MoM in Sep-21, a 18.1% rise YoY. 
  • Rest of WA was up 10.0% MoM and 24.1% rise YoY. 
 

Refinances

  • Sep-21 was flat on Aug-21, and 80.0% higher YoY. 
 

Wins & losses

New loans

  • Major banks improved their net position for new loans, winning slightly more than they lost. 
  • Non-majors also improved, remaining well ahead of the majors in net positive territory. 
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 maintained their strong net positive position in refinanced loans. 
  • The non-majors were also flat, remaining negative and behind the majors. 
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. 

Subscribe

We are uniquely placed to provide timely insights into property and mortgage trends, drawing on data from initial search to final settlement. 

Complete the form below to get the latest Monthly Insights delivered to your inbox.

 

 

 

By submitting your details, you agree to receive the property insights from PEXA or its affiliate companies (“PEXA Group Company”) and other material from time to time. This may include research, news and updates and other offers. For further details, click here.

 

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.