the adviser logo

ANZ boosts market share

by Staff Reporter7 minute read
The Adviser

By: Staff Reporter

ANZ is challenging Westpac’s and CBA’s stranglehold over the mortgage market, by boosting its lending to homebuyers.

According to recent data from the Australian Prudential Regulation Authority, ANZ was the fastest growing major in February, expanding its business by $1.54 billion.

While Westpac and CBA still accounted for more than 56 per cent of market growth during the month, their combined dominance slipped from 70 per cent recorded at the same time last year.

NAB also enjoyed a strong growth month, boosting its home lending by $1.31 billion.

NAB currently has the cheapest variable rate of the majors.

Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more