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Australian Mortgage Report Q1 2010

Australian Mortgage Report Q1 2010

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Published by Inspiriting.com
From CoreData
From CoreData

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Published by: Inspiriting.com on Mar 27, 2010
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Australian Mortgage Report: Quarter 1 2010 Brief CoreData 
For further information contact:CoreData-brandmanagement(02) 9376 9600
Australian Mortgage Report
Quarter 1 2010‘Year in Review’
A quarterly detailed analysis of the Australian mortgage industry
Australian Mortgage Report: Quarter 1 2010 Brief CoreData 
About The Study
The Australian mortgage industry continues to undergo unparalleled change, withmuch of the impact caused by the confusion continuing to unfold from the globalfinancial crisis.The lack of economically viable wholesale funding and ‘difficult’ securitisationmarkets has caused, and continues to do so, many lenders such as non-banks tocease lending altogether, with many tier 2 Australian banks also struggling tocompete.The Australian Mortgage Report has been developed to unlock the confusionsurrounding residential lending market share in Australia, with quantitative analysisextending back five years from December 2009.
What’s in the report?
The Australian Mortgage Report, which is released quarterly, compiles, analysesand comments on the developments, trends and market activity with a differentmortgage theme per quarter.The aim is to provide benchmark analysis on the Australian mortgage industry,along with information in line with the quarterly theme.The theme for Quarter 1 2010 is ‘Year in Review’, as CoreData-brandmanagement highlights mortgage market share changes during 2009.Pending any major market changes, the quarterly themes for 2010 will remain;
Quarter one; Year in Review; released mid-February
Quarter two; Mortgage products; released mid-May
Quarter three; Customer acquisition; released mid-August
Quarter four: Sales channels / mortgage brokers; released mid-November
Australian Mortgage Report: Quarter 1 2010 Brief CoreData 
Report Extracts Below:
Executive Summary
1.1 St George and Bankwest perform strongly
The St George and Bankwest brands were the surprise success stories during2009, when many considered there would be a customer exodus post therespective Westpac and Commonwealth Bank takeovers.The St George mortgage book increased 14.7% for the year ending December2009, with Bankwest up 29.4%.
1.2 Tier 2 banks lending continues to struggle
During 2009 the Tier 2 banking sector continued to lose mortgage market shareto the big four banks, with restricted lending volumes due to lack of funding.The big four banks can access cheaper lines of wholesale funding compared toTier 2 banks, due to higher credit ratings.
1.3 ‘Big two’ now have 50% market share
The ‘big two’, Commonwealth Bank and Westpac by the end of 2009 hold 50.0%of all outstanding mortgages in Australia, with market share continuing toincrease each quarter.ANZ and National Australia Bank market share was unchanged for the year,with the biggest losers the non-bank lenders whose share fell to 4.8% from8.5%.
1.4 Commonwealth Bank hits $280 billion
The 25.9% market share ranks the Commonwealth Bank as the largestmortgage lender in Australia, with a 21.6% book jump to $280 billion for yearending December 2009.
1.5 Westpac reaches $260 billion
Westpac attracted very negative media attention in December when the bankboosted the standard mortgage variable by 45 points, after the official cash rateincrease of 25 points. With a mortgage book of $260 billion and mortgagemarket share of 24.1%, Westpac can potentially afford to have weaker customeracquisition in the short term, as the bank increases margins on the book grownduring the Global Financial Crisis.

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