Australia’s banking giants continue to dominate the mortgage market, new research has found.
According to RFI’s Australian Mortgages Monthly Monitor report, the value of bank-held owner-occupied loans increased 0.6 per cent in August to $676.6 billion.
Westpac Group held the largest share, with 27.3 per cent of the market, followed by CBA and ANZ respectively.
NAB held the smallest share of the ‘Big Four’ in August, but saw the biggest increase in market share of the majors – up 0.2 percentage points to 14.9 per cent.
Similarly, the value of bank-held investment property loans also increased in September by 0.6 per cent to $301.3 billion.
“All banks except for Macquarie, ME Bank and Citibank experienced increases in the value of their loan books in September. Westpac Group held the largest market share of 27.3 per cent, followed by CBA with 26.3 per cent, NAB with 16.5 per cent and ANZ with 13.7 per cent,” the report read.
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