January bank data has revealed Macquarie Bank powering ahead across both borrower types, while ANZ’s total loan book regressed for the second consecutive month.
Fresh figures from the Australian Prudential Regulation Authority’s (APRA) Monthly Authorised Deposit‑taking Institution Statistics for January 2026 have shown Macquarie Bank posting system‑leading growth in its housing loan book, while Australia and New Zealand Banking Group (ANZ) recorded another month of declining volumes.
Macquarie Bank once again led the pack on growth, expanding its total housing loan portfolio (owner‑occupier and investment) by 2.45 per cent in January, a $3.94 billion rise to $164.7 billion.
Its owner‑occupier book climbed $2.29 billion (2.32 per cent) to $101.2 billion, while its investment portfolio rose $1.65 billion (2.66 per cent) to $63.5 billion.
The parallel lift in both segments gave Macquarie the fastest percentage growth of any of the top 10 authorised deposit‑taking institutions (ADIs) and the third‑largest dollar increase, behind only Commonwealth Bank of Australia (CBA) and Westpac.
It extends a pattern evident through late 2025, where Macquarie used sharp pricing and distribution to steadily close the gap on the big four.
ANZ flatlines as peers continue to grow
At the other end of the spectrum, ANZ’s total housing loan book edged down by $50 million (‑0.01 per cent) over the month to $321.5 billion, making it the only top 10 ADI to record an aggregate decline in January.
The modest fall follows ANZ’s owner‑occupier portfolio slipping backwards in December, while most rivals grew strongly.
In January, ANZ’s owner‑occupier balances dropped by $360 million (‑0.17 per cent) to $214.3 billion, partly offset by a $320 million (0.30 per cent) rise in its investment loans to $107.1 billion.
The figures suggest that softer owner‑occupier demand and stronger competition from other lenders continue to outweigh gains in the investor segment, even as system‑wide housing credit grinds higher.
CBA and Westpac extend dominant lead
Australia’s two largest mortgage lenders set the pace in dollar terms over January, with CBA lifting its total housing loan book by $4.96 billion (+0.81 per cent) in January to $616.4 billion, reinforcing its position at the top of the market.
Owner‑occupier loans at CBA rose $2.42 billion (0.61 per cent) to $402.2 billion, while investment lending increased by $2.54 billion (1.20 per cent) to $214.2 billion – the biggest monthly rise in investor balances by value among the majors.
Westpac was close behind, adding $4.01 billion (0.80 per cent) to bring its total housing book to $502.5 billion.
Its owner‑occupier portfolio grew $2.45 billion (0.74 per cent) to $333.2 billion, and its investment lending advanced $1.56 billion (0.93 per cent) to $169.3 billion.
Taken together, CBA and Westpac injected almost $9 billion of extra housing credit in a single month and now account for well over half of the mortgages held by the nation’s top 10 ADIs.
The renewed momentum builds on a strong finish to 2025, when the two banks were already recording sizeable monthly increases in both new settlements and refinancing activity.
NAB leans into owner‑occupiers, pares back investors
National Australia Bank (NAB) delivered one of the strongest owner‑occupier results in January, adding $4.32 billion (1.89 per cent) to that portfolio, which reached $232.5 billion.
However, its investment book shrank by $2.32 billion (2.05 per cent) to $111.1 billion, limiting total housing growth to $2.0 billion (0.59 per cent lift) and a combined book of $343.7 billion.
The split points to an ongoing strategic tilt towards owner‑occupier borrowers and an increasingly cautious stance on investors, at a time when regulatory and funding conditions continue to favour lower‑risk, principal‑and‑interest lending.
Mixed picture among mid‑tier lenders
Outside the big four and Macquarie, January brought uneven results across the remaining top 10 ADIs.
ING Bank Australia notched one of its strongest monthly performances over the past 12 months, growing total housing credit by $1.08 billion to $71.7 billion, off the back of a $720 million rise in owner‑occupier loans and a $360 million increase in investor balances.
Suncorp Bank also recorded solid expansion, with its total housing book up $340 million to $57.4 billion, while HSBC Bank Australia added $250 million to reach $34.7 billion.
By contrast, Bendigo and Adelaide Bank’s housing portfolio edged down $110 million to $63.3 billion, driven by a $280 million fall in owner‑occupier balances, yet partially offset by $180 million of growth in investor lending.
Bank of Queensland (BOQ) slipped $130 million to $53.7 billion, reflecting small declines on both sides of its mortgage book.
The divergent mid‑tier outcomes underscore that competitive pressures, funding costs, and risk appetites are playing out diametrically across institutions, even as aggregate system credit rises.
[Related: ANZ slips into home lending decline]
