Industry Analysis & Industry Trends
The Mortgages industry plays a key role in the dream of home ownership for many people, and this is evident in the growing asset base of the overall industry. The beginning of the past five-year period was characterised by consumer deleveraging and low credit availability. However, as the government lowered the official cash rate and implemented numerous assistance programs to support growth in the residential housing market, these trends shifted. As a result, the value of mortgages issued by the industry has grown strongly over the past five years. New loan approvals declined in 2010-11, but have grown rapidly since then. In June 2015, approvals of new loans were 12.1% higher than in the previous year... purchase to read more
Industry Report - Industry Key Buyers Chapter
The Mortgage industry in Australia displays a high level of market share concentration, with the four largest players accounting for over 70% of industry assets. Over the past two decades, industry concentration has been on the rise. The financial crisis forced larger players to consolidate when the industry underwent drastic structural change.
Mergers and takeovers, including the merger of Westpac and the Bank of Melbourne, have had a drastic influence on the concentration level of the industry. That move brought together two significant players, firmly positioning Westpac as one of the larger players among the big four Australian banks. Another significant acquisition that took place was ANZ’s purchase of the National Bank of New Zealand... purchase to read more