71.8%: Mortgage Brokers shine in record-breaking market share

The latest market share data released by the Mortgage & Finance Association of Australia (MFAA) has delivered a clear message - mortgage brokers are the channel of choice for Australian homebuyers.

During the October to December 2023 quarter, a staggering 71.8% of all new residential home loans were written by mortgage brokers. This is the highest result on record since the MFAA started reporting this data. Just to put that into perspective, the previous high was 71.7% in the September 2022 quarter.

Mortgage brokers consistently provide outstanding service to their clients, and this latest record-breaking market share is a clear reflection of the trust Australians have in us. We play a pivotal role in guiding borrowers through the complexities of the home loan market, offering a broad spectrum of choices and expert advice.

Even more impressive is that this latest lift in market share went against the traditional trends typically seen in the December quarter. Historically, we've often seen a slight dip in broker market share at the end of the calendar year as property market activity declines. But not this time!

In fact, mortgage broker market share rose by 0.3 percentage points from the September 2023 quarter. Compared to the December 2022 quarter, it was up 2.5 percentage points, and a whopping 5.3 percentage points compared to December 2021.

And it's not just market share that's on the rise - the value of loans written by mortgage brokers also grew during the December 2023 quarter. We settled a massive $94.06 billion in home loans, marking a 5% increase year-on-year. This marks the third consecutive period of growth since settlement values dipped to $78.59 billion in the March 2023 quarter.

Needless to say, these figures are a testament to the unwavering dedication and professionalism of mortgage brokers like myself. We continue to be the go-to choice for Australians navigating the complexities of the home loan market, regardless of the economic conditions.

So, if you or anyone you know is in the market for a home loan, I encourage you to reach out to Loan Market Erskineville. We're here to provide the expert guidance and support you need to make the best financial decisions.

“Tommy has been an excellent mortgage broker for us for a number of years. He was recently able to secure a very competitive revert rate for us when our fixed rate expired. I would highly recommend Tommy to anyone! Tommy provides high quality advice in a timely manner. His customer service is fantastic - he is always very quick to respond and makes the mortgage process very easy! Thank you, Tommy, we are very lucky to have you as our broker.” - Charlotte