Brokers have captured their largest slice of new home‑loan business on record.
The latest MFAA Quarterly Market Share Report, based on settlement data from major aggregators and compiled by Cotality, shows brokers were involved in 81 per cent of all new residential loans written in the March 2026 quarter – the highest figure recorded since the series began more than a decade ago.
The March result represents a decisive step-up from already‑elevated levels.
Compared with the same quarter last year, broker share has jumped more than 4 percentage points from 76.8 per cent and is almost 7 points higher than in March 2024, when the channel accounted for 74.1 per cent of new lending.
The latest figure also sits comfortably above the previous record of 76.7 per cent set in the December 2025 quarter.
Volumes also tell a similar story, with the broker channel between January and March settling $124.88 billion in new home loans, an increase of $25.51 billion on the corresponding period a year earlier and the largest March‑quarter tally the MFAA has reported.
That performance comes despite a backdrop of higher rates, weaker sentiment, and intense competition between lenders.
MFAA CEO Anja Pannek said the data confirmed that using a broker had become the norm rather than the exception.
“Over the eight years of the MFAA’s survey data, broker market share has grown from 55.3 per cent in March 2018 to 81 per cent in March 2026, an increase of 25.7 percentage points,” she said.
“Australia now joins the United Kingdom and the Netherlands as one of only three countries globally where mortgage brokers facilitate more than 80 per cent of mortgage lending.”
Complexity and confidence driving borrowers towards brokers
Pannek said that the latest numbers reflected how heavily borrowers were leaning on third‑party credit advice in a more complicated lending environment.
“This result is a strong reflection of the work brokers do every day to help Australians understand their options, access competition and choice, and make informed lending decisions,” Pannek said.
“When more than eight in 10 new home loans are being facilitated by brokers, it shows the trust consumers are placing in the channel and the value they see in having expert guidance through an increasingly complex lending market.”
Pannek pointed to a combination of higher repayments and stubborn living‑cost pressures as reasons more borrowers were seeking professional assistance.
“Over the past year, borrowers have continued to navigate housing affordability pressures, cost-of living pressures and changing expectations around interest rates,” she said.
“For many Australians, particularly those entering the property market for the first time, working with a broker has been critical in understanding their options and making informed decisions.”
Record share amid tougher trading conditions
Yet Pannek said that the result was only one part of the story and that many broking businesses were dealing with tighter margins and greater uncertainty.
“While this is an important milestone for the industry, we also recognise that business operating conditions are challenging,” Pannek said.
“Economic uncertainty, cost pressures, shifting consumer confidence and global instability are all affecting business resilience. Like many small and medium-sized businesses across Australia, broking businesses are having to remain focused, disciplined and adaptable.”
She said that the latest result should be read as a testament to brokers’ resilience amid tougher operating conditions.
“That is why this result should be recognised not only as a market share milestone, but as a reflection of the professionalism, persistence and client focus brokers continue to demonstrate in changing conditions,” she said.
“Brokers have consistently shown their ability to adapt, support their clients and continue delivering value.
“This gives us confidence in the resilience of the industry going forward.”
[Related: Mortgage broker share hits record December high]
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