ANZ has reported a 17% growth in home loan sales, with growth in the broker channel outstripping that of the proprietary channel.
According to the major bank’s half-year results to March 2015, home loan sales across all channels increased 17%, to $30 billion. The major bank has now achieved above system growth for the past five years.
ANZ’s broker channel is now growing at 1.3x system growth, while the proprietary channel is growing at just 1x system growth. According to the results, the broker market share in the bank’s main NSW and ACT markets increased by 1% over the 12 months to March, while the proprietary channel market share decreased by 1%.
Broker market share of ANZ home loans in NSW and ACT is now 47%, while the proprietary channel is slightly more, at 53%.
The results also revealed that owner-occupier loans make up 60% of ANZ’s home loan portfolio, 43% of mortgage holders are ahead on their repayments, 35% are paying interest only and the average loan size at origination is $376,000.
