- September 2, 2010
- Posted by: admin
- Category: Finance News
Australia’s big four continue to dominate the mortgage market, with the latest APRA monthly banking statistics, the big four account for over 85 per cent of all mortgages.
Westpac continues to edge out CBA, with the majors recording a market share of 27.34 per cent and 25.54 per cent respectively.
ANZ has the smallest market share of the big four, accounting for just 15.11 per cent. However, NAB is not far in front, with a market share of 15.23 per cent.
Similarly, credit union and building society housing loans outstanding also grew by 10 per cent to $50 billion for the year.
Mortgage managers, building societies and credit unions are struggling to compete with their high cost of funds. When the next interest rate rise comes I suspect you will see the banks being more competitive to maintain their market share.