Investor demand and Macquarie’s rapid expansion have continued to reshape the mortgage pecking order in April.
Fresh April figures from the Australian Prudential Regulation Authority’s (APRA) Monthly Authorised Deposit‑taking Institution Statistics have shown that the country’s 10 largest banking groups again nudged their combined housing books higher, with Macquarie Bank outpacing the majors, while Suncorp and Bank of Queensland continued to retreat.
Across the big four, the story in April remained one of steady expansion rather than an outright dash for volume.
Commonwealth Bank of Australia’s (CBA) total housing book rose by $3.05 billion, or 0.49 per cent, to $627.5 billion. Most of that increase came from owner‑occupiers, where balances climbed $1.60 billion (0.39 per cent) to $408.2 billion, while its investor book added $1.45 billion (0.66 per cent) to reach $219.3 billion.
Westpac Banking Corporation posted a similar pattern but slightly faster growth, increasing its total mortgage portfolio by $3.40 billion (0.67 per cent) to $512.4 billion. Owner‑occupier loans rose $1.93 billion (0.57 per cent) to $339.0 billion, while investor balances advanced $1.47 billion (0.85 per cent) to $173.3 billion.
National Australia Bank (NAB) notched steadier gains, adding $1.54 billion (0.44 per cent) to take its total housing book to $348.5 billion. Its owner‑occupier portfolio increased by $0.92 billion (0.39 per cent) to $235.1 billion, and investor lending rose by $0.62 billion (0.55 per cent) to $113.4 billion.
Australia and New Zealand Banking Group (ANZ) continued rebuilding momentum after last year’s decline, lifting its total mortgage balances by $1.70 billion (0.53 per cent) to $325.9 billion. Owner‑occupier loans edged up $0.55 billion (0.26 per cent) to $215.6 billion, while investor balances rose a stronger $1.15 billion (1.05 per cent) to $110.3 billion.
Taken together, the majors are still expanding but in a controlled manner, with overall monthly growth generally sitting below 0.7 per cent even as refinancing and purchase activity persist under higher‑rate and tighter macroprudential settings.
Macquarie extends its lead on growth
Macquarie Bank again delivered the standout performance, reinforcing a trend that has run through the first quarter of 2026.
In April, Macquarie’s total housing loans jumped by $3.52 billion, or 2.03 per cent, to $177.2 billion – the fastest percentage increase among the top‑10 and one of the largest dollar gains.
Its owner‑occupier portfolio climbed $1.98 billion (1.86 per cent) to $108.4 billion, while investor balances surged $1.55 billion (2.30 per cent) to $68.8 billion.
That parallel lift across both borrower types underlines how far Macquarie has travelled from its investment‑bank roots into the mainstream of retail lending.
With its housing book now growing several times faster than that of the majors, the bank is steadily lifting its share of system credit and keeping pressure on rivals’ pricing and retention strategies.
Regionals split as Suncorp and BOQ shrink
Outside the big four and Macquarie, the April data revealed a clear divide between the regionals still pushing ahead and those in retrenchment mode.
ING Bank Australia increased its total housing book to $73.1 billion, up $0.25 billion (0.35 per cent). Owner‑occupier balances rose to $54.9 billion after a $0.88 billion increase (0.14 per cent), while investor lending reached $18.2 billion following a $0.18 billion rise (0.97 per cent).
Bendigo and Adelaide Bank also remained in expansion territory. Its total housing portfolio rose $0.15 billion (0.24 per cent) to $64.1 billion, with owner‑occupier loans up $0.14 billion (0.28 per cent) to $49.2 billion and investor balances edging $0.02 billion higher (0.11 per cent) to $14.9 billion.
By contrast, Suncorp Bank’s mortgage book - which is now part of ANZ and will be integrated into the wider ANZ group by 30 June 2027 - shrank for another month.
Total housing balances slipped $0.38 billion, or 0.65 per cent, to $57.3 billion at Suncorp Bank, driven by a $0.37 billion (0.91 per cent) fall in owner‑occupier loans to $40.0 billion and a marginal $0.01 billion (‑0.04 per cent) decline in investor balances to around $17.3 billion.
Bank of Queensland (BOQ) - which has paused new lending from the broker channel for all but BOQ Specialist and subsidiary ME Bank - also remained on the defensive. Its total housing portfolio stands at $52.4 billion, with the figures indicating a -0.19 per cent decrease in growth rate, consistent with another month of contraction.
Within that, owner‑occupier loans fell $0.14 billion (-0.38 per cent) to $36.5 billion, while investor balances rose modestly by $0.04 billion (0.25 per cent) to $15.9 billion.
HSBC Bank Australia, meanwhile, effectively held steady. Its total housing book edged up $0.01 billion (0.03 per cent) to $34.8 billion, with owner‑occupier balances at $24.1 billion after a $0.01 billion uplift (0.05 per cent) and investor balances broadly flat at $10.6 billion, registering a rounded -0.01 per cent move.
Investor lending keeps outpacing owner‑occupiers
A key theme running through the April snapshot is that investor lending is still growing faster than owner‑occupier at several large institutions, extending a pattern that emerged in late 2025 and persisted through the first quarter of 2026.
CBA, Westpac, and NAB each posted stronger percentage growth in their investor books than in their owner‑occupier portfolios.
ANZ’s investor balances jumped more than four times faster than its owner‑occupier loans in percentage terms, with Macquarie also recording brisk growth in the investor portfolio.
That tilt suggests that, despite higher interest rates, tighter serviceability assessments, and major tax changes, investors remain sufficiently confident in rental yields and longer‑term price prospects to keep adding leverage.
[Related: Macquarie, ING charge ahead as BOQ, Suncorp retreat]
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