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AFG Mortgages Lodged

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AFG Mortgages Lodged Market Release 19 January 2021 Market Announcements Office ASX Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2000 Dear Sir/Madam AFG MORTGAGE INDEX – Q2 2021 Please see attached statement regarding AFG’s Mortgage Index for the second quarter of financial year 2021. Authorised for disclosure by: Lisa Bevan Company Secretary CONTACT DETAILS Alison Clarke, AFG Head of Corporate Communications Mob 0402 781 367 David Bailey, CEO Tel (08) 9420 7888 January 2021 AFG Index Market Release Table of contents 3 Media Release 4 AFG Mortgages lodged 5 Four Major Banks & their Associated Brands vs Non Major lender market share 6 Total lodgement volume 7 Average mortgage size in dollars 8 Loan Value Ratios (LVR) 9 Four Major Banks & their Associated Brands market share all mortgages 10 Non Major Lender market share all mortgages 11 Four Major Banks & their Associated Brands market share Fixed Rate mortgages 12 Non Major Lender market share fixed rate mortgages 13 Lender Product Type 14 Top Lenders by State 15 Four Major Banks & their Associated Brands vs Non Major by state 16 Lender Turnaround Times Contact Details Alison Clarke, AFG Head of Corporate Communications Mob 0402 781 367 www.afgonline.com.au AFG Index 2 Record quarter as homebuyers on the move Australian Finance Group (ASX:AFG) has today announced a record-breaking quarter with more than $19.9 billion of home finance lodged by AFG brokers across the second quarter of the 2021 financial year. AFG CEO David Bailey explained the results: “The national figure represents an increase of 9.5% on the first quarter of the 2021 financial year and an increase of 30% on the corresponding quarter last year. “Gains were recorded across the country - New South Wales up 3.5% for the quarter, Queensland up 7.8%, South Australia up 0.4%, Victoria up 18% and Western Australia recording a 13.3% jump on Q1 2021. The Northern Territory recorded a drop of 10%. “With travel off the agenda for many, the home has become even more important and 42% of lodgements were for those upgrading their homes. “Government incentives for First Home Buyers continue to support those looking for their first home with 22% of lodgements being made by those taking their first steps into the housing market,” he said. “A record high Loan to Value Ratio of 73% is due to the high proportion of First Home Buyers who typically have smaller deposits. The percentage of Investor loans being taken out remains at an all-time low of 21%. “The market is well aware that low interest rates are likely bottoming out and this has seen the percentage of customers choosing a Fixed Rate product still high at 29.2%,” he said. “Low interest rates on offer has also meant homeowners are taking the opportunity to pay down their debt faster with a record 88% choosing a Principal & Interest product over an Interest Only loan. The average loan size is also at record levels, coming in at $544,359 for the quarter. “With the four big banks leveraging their funding advantage through very competitive pricing and cash back offers, smaller lenders’ share of the market has remained at 41%. “The Westpac stable of brands - Westpac, BOM, BankSA and St George - have increased their combined market share by 2.5% to be sitting at 18.7% while CBA group – CBA and Bankwest - have dropped 4.7% to now be holding 20.7% of the market. The federal government has outlined the importance of access to credit for the economic recovery of the country. To help gauge the flow of activity in the market and the time involved for a residential application to progress to formal approval, AFG will now include a weighted average Lender Turnaround Time (LTT) indicator in the AFG Index. “The LTT analysis shows the average number of days from submission of the loan application by the broker, to the lender providing formal approval, is sitting at 25 days. Reflective of the level of activity in the market, this is the highest it has been at any point over the last three years and a blow out of around 4 days from 12 months ago," he concluded. -ends- Contact Details Alison Clarke, AFG Head of Corporate Communications Mob 0402 781 367 www.afgonline.com.au AFG Index 3 TABLE 1 AFG Mortgages lodged Fiscal Fiscal First Home Principal & Lodge # Lodge Volume Avg Loan Inv % Refinance % Upgrader % Interest Only % Year Quarter Buyers % Interest % 2013 1 21,572 $8,416,747,858 $390,170 36% 15% 34% 28% 53% 47% 2013 2 21,409 $8,487,848,307 $396,462 36% 12% 34% 31% 51% 48% 2013 3 21,210 $8,322,956,168 $392,407 36% 12% 33% 31% 52% 48% 2013 4 24,446 $9,799,859,821 $400,878 37% 11% 33% 30% 54% 46% 2014 1 25,819 $10,542,068,141 $408,307 38% 10% 31% 32% 54% 46% 2014 2 25,896 $10,984,615,499 $424,182 39% 9% 32% 31% 56% 44% 2014 3 24,231 $10,302,849,053 $425,193 39% 9% 32% 31% 57% 43% 2014 4 26,966 $11,551,435,672 $428,370 39% 9% 34% 30% 58% 42% 2015 1 28,132 $12,204,183,662 $433,819 39% 8% 34% 31% 58% 42% 2015 2 28,664 $12,892,326,077 $449,774 39% 7% 36% 30% 59% 41% 2015 3 27,496 $12,267,821,050 $446,167 40% 8% 35% 30% 59% 41% 2015 4 31,230 $14,355,020,533 $459,655 40% 8% 37% 28% 59% 40% 2016 1 29,919 $14,074,122,292 $470,408 33% 9% 36% 34% 54% 46% 2016 2 28,849 $13,707,774,726 $475,156 31% 7% 38% 35% 50% 50% 2016 3 27,275 $12,899,531,564 $472,943 33% 8% 38% 34% 48% 52% 2016 4 30,360 $14,491,933,529 $477,336 34% 7% 39% 33% 47% 53% 2017 1 31,572 $15,124,176,912 $479,038 32% 8% 38% 34% 46% 54% 2017 2 30,741 $14,977,058,027 $487,201 34% 9% 38% 32% 47% 53% 2017 3 29,038 $14,150,343,319 $487,304 32% 10% 35% 34% 44% 55% 2017 4 30,056 $14,551,070,209 $484,132 31% 10% 29% 39% 33% 67% 2018 1 30,471 $14,947,866,967 $490,560 29% 13% 25% 41% 19% 81% 2018 2 29,674 $14,813,554,159 $499,210 28% 13% 22% 44% 19% 81% 2018 3 27,723 $13,794,037,703 $497,567 28% 13% 23% 43% 20% 80% 2018 4 28,866 $14,543,201,945 $503,818 28% 13% 23% 43% 19% 81% 2019 1 27,869 $14,161,389,532 $508,141 27% 14% 24% 43% 19% 81% 2019 2 25,525 $12,968,359,090 $508,065 27% 13% 24% 43% 18% 81% 2019 3 23,035 $11,613,654,326 $504,174 26% 14% 25% 43% 19% 81% 2019 4 25,243 $12,975,050,795 $514,006 28% 14% 28% 39% 20% 80% 2020 1 29,140 $15,699,513,472 $538,762 26% 15% 28% 40% 18% 82% 2020 2 28,601 $15,366,926,747 $537,286 26% 15% 27% 41% 18% 82% 2020 3 28,335 $15,341,599,487 $541,436 25% 15% 30% 39% 17% 83% 2020 4 31,069 $16,854,305,905 $542,480 25% 15% 32% 38% 16% 84% 2021 1 35,443 $18,183,871,102 $513,045 21% 23% 23% 40% 14% 86% 2021 2 36,583 $19,914,275,823 $544,359 21% 22% 22% 42% 12% 88% Contact Details Alison Clarke, AFG Head of Corporate Communications Mob 0402 781 367 www.afgonline.com.au AFG Index 4 TABLE 2 Four Major Banks & their Associated Brands vs Non Major Lender market share Investment First Home Refinance Upgrader Interest Only Principal & Lodgement Volume Buyers Volume Volume Volume Volume Interest Volume Fiscal Fiscal Non- Non- Non- Non- Non- Non- Non- Major Major Major Major Major Major Major Year Quarter Major Major Major Major Major Major Major 2013 1 77.1% 22.9% 79.4% 20.6% 74.5% 25.5% 72.9% 27.1% 79.5% 20.5% 81.3% 18.7% 72.4% 27.6% 2013 2 77.6% 22.4% 80.8% 19.2% 74.2% 25.8% 73.6% 26.4% 79.3% 20.7% 81.6% 18.4% 73.4% 26.6% 2013 3 78.2% 21.8% 80.0% 20.0% 77.1% 22.9% 73.4% 26.6% 80.4% 19.6% 82.2% 17.8% 74.0% 26.0% 2013 4 77.0% 23.0% 79.3% 20.7% 74.5% 25.5% 72.6% 27.4% 79.3% 20.7% 80.4% 19.6% 73.1% 26.9% 2014 1 74.1% 25.9% 76.5% 23.5% 72.8% 27.2% 67.3% 32.7% 76.9% 23.1% 77.0% 23.0% 70.7% 29.3% 2014 2 73.6% 26.4% 75.4% 24.6% 72.3% 27.7% 67.5% 32.5% 76.1% 23.9% 76.5% 23.5% 69.8% 30.2% 2014 3 74.3% 25.7% 77.1% 22.9% 71.1% 28.9% 68.3% 31.7% 76.7% 23.3% 77.3% 22.7% 70.5% 29.5% 2014 4 74.8% 25.2% 77.3% 22.7% 71.6% 28.4% 69.3% 30.7% 77.9% 22.1% 77.8% 22.2% 70.5% 29.5% 2015 1 73.7% 26.3% 76.8% 23.2% 69.7% 30.3% 66.5% 33.5% 77.3% 22.7% 77.0% 23.0% 69.1% 30.9% 2015 2 69.8% 30.2% 74.2% 25.8% 67.0% 33.0% 62.5% 37.5% 72.6% 27.4% 73.9% 26.1% 63.8% 36.2% 2015 3 73.4% 26.6% 76.4% 23.6% 72.3% 27.7% 67.1% 32.9% 75.5% 24.5% 76.9% 23.1% 68.3% 31.7% 2015 4 71.7% 28.3% 74.8% 25.2% 70.7% 29.3% 64.8% 35.2% 75.5% 24.5% 76.5% 23.5% 64.9% 35.1% 2016 1 73.7% 26.3% 72.7% 27.3% 73.8% 26.2% 68.9% 31.1% 78.1% 21.9% 78.2% 21.8% 68.6% 31.4% 2016 2 69.9% 30.1% 71.1% 28.9% 70.4% 29.6% 61.2% 38.8% 75.4% 24.6% 76.6% 23.4% 63.4% 36.6% 2016 3 70.6% 29.4% 72.0% 28.0% 70.0% 30.0% 64.8% 35.2% 74.5% 25.5% 76.2% 23.8% 65.4% 34.6% 2016 4 70.9% 29.1% 73.9% 26.1% 72.2% 27.8% 66.2% 33.8% 73.4% 26.6% 75.0% 25.0% 67.3% 32.7% 2017 1 71.1% 28.9% 74.5% 25.5% 77.0% 23.0% 65.4% 34.6% 73.4% 26.6% 75.6% 24.4% 67.4% 32.6% 2017 2 65.2% 34.8% 68.4% 31.6% 68.3% 31.7% 58.2% 41.8% 69.0% 31.0% 69.8% 30.2% 61.3% 38.7% 2017 3 65.6% 34.4% 67.3% 32.7% 70.2% 29.8% 58.0% 42.0% 69.4% 30.6% 69.0% 31.0% 62.8% 37.2% 2017 4 64.7% 35.3% 68.5% 31.5% 70.0% 30.0% 57.5% 42.5% 66.0% 34.0% 62.6% 37.4% 65.7% 34.3% 2018 1 64.3% 35.7% 68.9% 31.1% 68.0% 32.0% 57.6% 42.4% 64.2% 35.8% 58.3% 41.7% 65.9% 34.1% 2018 2 64.1% 35.9% 66.5% 33.5% 69.5% 30.5% 57.5% 42.5% 64.3% 35.7% 63.5% 36.5% 64.3% 35.7% 2018 3 63.2% 36.8% 65.0% 35.0% 67.6% 32.4% 58.9% 41.1% 63.2% 36.8% 65.0% 35.0% 62.9% 37.1% 2018 4 59.2% 40.8% 57.2% 42.8% 68.4% 31.6% 54.1% 45.9% 59.9% 40.1% 59.5% 40.5% 59.3% 40.7% 2019 1 59.7% 40.3% 57.1% 42.9% 68.1% 31.9% 55.4% 44.6% 60.5% 39.5% 57.8% 42.2% 60.2% 39.8% 2019 2 57.9% 42.1% 56.5% 43.5% 67.8% 32.2% 53.1% 46.9% 58.1% 41.9% 57.4% 42.6% 58.1% 41.9% 2019 3 58.6% 41.4% 56.5% 43.5% 68.2% 31.8% 53.1% 46.9% 59.6% 40.4% 60.2% 39.8% 58.4% 41.6% 2019 4 57.6% 42.4% 56.3% 43.7% 65.4% 34.6% 51.5% 48.5% 59.0% 41.0% 55.4% 44.6% 58.3% 41.7% 2020 1 54.0% 46.0% 50.1% 49.9% 65.1% 34.9% 45.0% 55.0% 57.1% 42.9% 47.5% 52.5% 55.5% 44.5%
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