The latest quarterly index from the ASX-listed aggregator has revealed record lodgement volumes, with the national average loan size also hitting a record high.
Brokers aggregating under Australian Finance Group (AFG) have set a new lodgement volume record, lodging $30.6 billion in the three months to 30 September 2025.
This figure represented a 26.5 per cent year-on-year increase and a 10.5 per cent rise on the previous quarter, according to the latest AFG Index released last Friday (17 October 2025).
The number of lodgements also hit a record high, with 43,799 submitted, up 7.3 per cent quarterly and 17.7 per cent year on year.
As a result, the national average loan size rose to $698,438, up 7.4 per cent (or $48,378) compared with the same period last year.
Investors were active in the first quarter of the 2026 financial year, accounting for 36 per cent of lodgements – a 3 per cent year-on-year increase.
Refinancing eased to 17 per cent, down from 26 per cent last year.
Upgraders made up 42 per cent of lodgements, slightly higher than the same period in FY25 (39 per cent).
First home buyer activity remained steady at 11 per cent, consistent with the same quarter last year, but slightly below the previous quarter (12 per cent).
David Bailey, AFG CEO, commented on the first home buyer figures, noting: “Affordability pressures and competition from investors may be influencing this segment.”
Majors consolidate
Another interesting wrinkle in the AFG data was the major bank’s share of lodgement volumes, dipping slightly to 59 per cent, compared to 59.7 per cent in the previous quarter.
However, this figure was also 3.1 per cent higher than the same time last year, where 55.9 per cent of lodgement flows were going to the big four banks.
“The major lenders have consolidated their position this quarter, reflecting a shift in borrower preference back towards the majors, while non-majors have seen a corresponding decrease in market share,” Bailey added.
The aggregator also noted 6.25 per cent of all broker lodgements went through its white label brand AFG Home Loans.
Of this, AFG Securities, the group’s wholesale lending arm, represented 71 per cent, up from 61 per cent in the previous quarter.
Strong momentum
This is the first AFG Index to be released since the aggregation group revealed its full-year results for FY25 that showed its broker network also reached a record high, with more than 4,200 active brokers now writing loans through AFG or Fintelligence, the asset finance aggregator it acquired in 2024.
At the time, Bailey said Australia’s housing finance market was well-positioned for continued momentum.
“With interest rates falling, the environment is conducive to increased home loan activity. The strength of the broker channel remains a key driver, with borrowers continuing to seek personalised service, tailored lending solutions, and competitive alternatives,” he said.
[Related: AFG reports record volumes as broker numbers surge]
