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CBA continues to dominate the market

by Staff Reporter8 minute read
The Adviser

Staff Reporter

The Commonwealth Bank of Australia continues to hold the greatest share of the mortgage market, despite seeing a drop in its share last month.

According to the RFi’s latest Australian Mortgage Market Wrap, CBA’s owner-occupied market share fell by 0.1 per cent last month, taking its overall percentage to 24.4 per cent – slightly above the Westpac Group which currently commands 23.0 per cent of the market.

Both ANZ and National Australia Bank managed to maintain their share of the market, commanding 16.5 per cent and 17.4 per cent respectively.

Of all the banks, non-major Macquarie managed to grow its owner occupied loan holdings by the greatest amount, lifting 5.1 per cent.

This is the seventh consecutive month Macquarie Bank has had the largest percentage increase in their loan holdings, which bodes well for the bank heading into The Adviser’s Third Annual Third Party Bank Ranking – Non-Majors.

Last year, the lender failed to impress brokers, placing last in the ranking.

However, this result was largely unsurprising given that the lender had only recently re-entered the third party distribution channel after an extended hiatus following the GFC.

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