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Total home lending market soars
The latest APRA monthly authorised deposit-taking institution statistics, released today for the month of October show the total value of housing loans to households, which includes both owner-occupied and investor loans, increased by $9.8 billion in the month, or 0.4 per cent.
CBA led the big four banks in terms of percentage growth, with a 0.54 per cent monthly increase, or $3.06 billion in dollar terms, to its loan book in October.
ANZ posted the next highest growth among the big four banks’ home loan books, increasing by 0.46 per cent, or $1.4 billion.
ANZ currently offers the lowest advertised variable rate among the big four banks, followed by CBA.
Note that both of these home loans are digital home loans for refinancers only.
Big four banks + Macquarie: Loans to households, housing: October 2024
Amount | Monthly Change | Year-on-year Change | Current share of ADI market (Oct24) | |
CBA | $570.7 billion | $3.1 billion | $28.5 billion | 25.4% |
0.5% | 5.2% | |||
Westpac | $476.1 billion | $895.4 million | $18.2 billion | 21.2% |
0.2% | 4.0% | |||
NAB | $322.6 billion | $1.4 billion | $8.9 billion | 14.3% |
0.4% | 2.8% | |||
ANZ | $305.8 billion | $1.4 billion | $18.1 billion | 13.6% |
0.5% | 6.3% | |||
Macquarie | $127.7 billion | $2.0 billion | $15.6 billion | 5.7% |
1.6% | 13.9% | |||
All ADI loans | $2.25 trillion | $9.8 billion | $109.4 billion | 100% |
0.4% | 5.1% |
Source: APRA Monthly Authorised Deposit-taking Institution Statistics, October 2024. Note: loans to households: housing is total of both owner-occupier and investor loans as recorded by APRA.
Household deposits hit another record high in October
Australians saved an extra $19.5 billion in the month of October, as deposits from households hit another record high.
Data out today from APRA shows the total amount saved in the bank from households is now $1.54 trillion.
This means household deposits have now risen by $272.6 billion since the start of the rate hikes (April 2022 to October 2024 inclusive).
Note: deposits from households include term deposits, transaction accounts, mortgage offset accounts and savings accounts on the books of authorised deposit-taking institutions (ADIs).
Total deposits by households, October 2024
Amount | Monthly change | Year-on-year change | Since start of hikes |
(April 2022) | |||
$1.54 trillion Record high | +$19.5 billion | +$118.4 billion | +$272.6 billion |
+1.3% | +8.3% | +21.5% | |
Source: APRA monthly authorised deposit-taking institution statistics.
Total deposits by households: APRA
Source: APRA monthly authorised deposit-taking institution statistics.
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