Smaller and non-major lenders are making big waves in the New South Wales market as they increase their new mortgage volumes over the past year.
Data from NSW Land Registry Services identified 25 lenders with the largest number of new registrations over the year to September 2022.
Six of these 25 lenders recorded a year-on-year gain, including MyState, Suncorp, Great Southern, BNY Mellon, Bluestone, and Pepper Money.
Meanwhile, the big four banks all experienced year-on-year declines.
Other lenders such as Macquarie Bank, ING, and Bendigo & Adelaide Bank also posted a fall over the year.
Overall, new mortgage volumes in the New South Wales market as a whole fell 8.7% in the year to September 2022.
NSW Land Registry Services head of data and insights Jerry Goldfried said the decline in new mortgage volumes among the bigger banks reflected the downturn in the Sydney property market.
“The reason those banks experienced a decline in new mortgage volumes was because there were fewer active buyers in the market, compared to the property boom,” he said.
“That can be seen in property price growth statistics, which show that Sydney’s median property price increased in the year to September 2021 but then fell in the year to September 2022.”
|
Lender |
New Mortgage Registrations
|
Change |
||
|
October 2020 – September 2021 |
October 2021 – September 2022 |
Volume |
% |
|
|
MyState Bank |
363 |
713 |
350 |
96.4 |
|
BNY Mellon |
460 |
650 |
190 |
41.3 |
|
Bluestone |
753 |
915 |
162 |
21.5 |
|
Suncorp Bank |
2,532 |
2,892 |
360 |
14.2 |
|
Great Southern Bank |
1253 |
1,379 |
126 |
10.1 |
|
Pepper Money |
2,321 |
2,370 |
49 |
2.1 |
|
Bank of Queensland |
2160 |
2,105 |
-55 |
-2.5 |
|
Westpac |
30,881 |
29,731 |
-1150 |
-3.7 |
|
Macquarie Bank |
8,662 |
8,110 |
-552 |
-6.4 |
|
Perpetual |
4,362 |
4,079 |
-283 |
-6.5 |
|
NAB |
25,187 |
23,341 |
-1,846 |
-7.3 |
|
Heritage Bank |
871 |
805 |
-66 |
-7.6 |
|
Entire NSW market |
183,394 |
167,450 |
-15,944 |
-8.7 |
|
ANZ |
16,984 |
15,336 |
-1,648 |
-9.7 |
|
Commonwealth Bank |
47,874 |
41,963 |
-5,911 |
-12.3 |
|
Liberty |
1,304 |
1,132 |
-172 |
-13.2 |
|
AMP Bank |
1,988 |
1,682 |
-306 |
-15.4 |
|
Firstmac |
1,140 |
954 |
-186 |
-16.3 |
|
Teachers Mutual Bank |
1,414 |
1,168 |
-246 |
-17.4 |
|
Bendigo & Adelaide Bank |
4,281 |
3,444 |
-837 |
-19.6 |
|
HSBC |
1,903 |
1530 |
-373 |
-19.6 |
|
Greater Bank |
1,252 |
992 |
-260 |
-20.8 |
|
IMB Bank |
1,261 |
998 |
-263 |
-20.9 |
|
Newcastle Permanent BS |
2,156 |
1,666 |
-490 |
-22.7 |
|
ING |
4,760 |
3,478 |
-1282 |
-26.9 |
|
Regional Australia Bank |
1,281 |
934 |
-347 |
-27.1 |
—
Photo by kanchanachitkhamma on Canva.
Collections: Mortgage News
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