The mortgage dealer channel has recorded its highest ever residential residence mortgage market share for the June quarter.
Brokers claimed 55.8% of the market share over the April to June quarter, in line with analysis commissioned by the MFAA and performed by a CoreLogic enterprise.
Usually, this time of yr marks a seasonal low level for the dealer channel. Nevertheless, this yr’s result’s 1.9 proportion factors greater than the corresponding 2018 quarter and 4.3 proportion factors greater than the identical in 2017.
MFAA CEO Mike Felton mentioned the end result mirrored the “unwavering buyer belief and confidence” within the dealer proposition.
“That is an impressive end result for the dealer channel, notably because it was achieved in the course of the seasonal low level for dealer market share. It as soon as once more demonstrates the important thing function brokers play in guaranteeing that their prospects proceed to have entry to credit score throughout tight market circumstances,” he added.
The analysis additionally confirmed that the general worth of lending by means of the dealer channel over the quarter was down $7.22bn, from $49.51bn settled in 2018 to $42.29 this yr, a decline of 14.6%.
The general market felt the lower, with volumes down 17.5% and the proprietary channel declining by 20.5%.
“Regardless of the decline within the worth of residential lending for this era, brokers have maintained their place as client champions,” mentioned Felton.
“This end result clearly exhibits that mortgage brokers are in a position to stay centered on their purchasers as they proceed to ship alternative and entry to credit score for Australian customers.”
