Total housing loan values hit a new high in April as investor lending outpaces owner-occupiers
The total value of residential home loans in Australia reached a record $2.48 trillion in April, according to data released by the Australian Prudential Regulation Authority (APRA).
Housing loans among authorised deposit-taking institutions (ADIs) rose by $14.3 billion during the month, a 0.6% increase from March, notwithstanding consecutive cash rate increases by the Reserve Bank of Australia.
Investor mortgage balances grew 0.8% in April, compared with 0.5% for owner-occupier loans. Over the year, investor loan balances rose 8.9%, ahead of the 6.1% growth recorded in the owner-occupier segment.
"Even after back-to-back cash rate hikes, Australia's mortgage market continues to barrel ahead, with the total value of housing loans hitting yet another record high," said Sally Tindall (pictured right), data insights director at Canstar.com.au.
"This data paints a picture of a housing market that's proving remarkably resilient. Interest rates are higher, house price growth has cooled in key markets of Sydney and Melbourne, yet Australians are still adding more than $14 billion in housing debt every month."
| Loans to households: housing | ||||
|---|---|---|---|---|
| Amount | Market share | Monthly change | YoY change | |
| CBA | $627.5 billion | 25% | +0.5% | +7.1% |
| Westpac | $512.4 billion | 21% | +0.7% | +5.8% |
| NAB | $348.5 billion | 14% | +0.4% | +5.5% |
| ANZ | $325.9 billion | 13% | +0.5% | +3.7% |
| Macquarie | $177.2 billion | 7% | +2.0% | +27.5% |
| All ADI loans | $2.48 trillion | 100% | +0.6% | +7.0% |
| Source: APRA Monthly Authorised Deposit-taking Institution Statistics | ||||
Among all ADIs, Macquarie recorded the largest monthly increase in both dollar and percentage terms for the second consecutive month. Its loan book grew by $3.5 billion, or 2%, in April, and by 27.5% over the prior 12 months, reinforcing its position as the fifth-largest mortgage lender in the country.
"While the big four still dominate the mortgage landscape, Macquarie continues to chase them down: its loan book has surged almost 28% over the past year," Tindall noted.
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