New mortgages on titles showed continued growth and volumes are up 13.3%, compared to the same time last year.
Refinance volumes continue to remain significantly above pre COVID-19 levels. As a segment, Other Domestic Banks are growing their NSW Residential market share, gaining 1.9 mortgages to every one lost via refinancing in October 2020.
By comparison, Major Banks lost 1.6 mortgages to every one gained from Other Domestic Banks. Non-ADI Lenders and Foreign ADIs lost 2.0 and 1.7 respectively, for each mortgage won.
Director of Analytics and Insights at NSW Land Registry Services, Jerry Goldfried, said October was a strong month for mortgage activity in NSW.
“As a segment, Other Domestic Banks have largely returned to pre Covid-19 levels and are the only segment to record a positive net refinance position in October 2020,” Goldfried said.
Customer Owned Banks and Other Domestic Banks’ mortgage shares grew compared to October 2019; whilst the reverse is true for all other segments.
The NSW LRS Analytics and Insights team analyses all new and refinanced mortgages held against residential properties registered on the NSW Land Title Registry. Newly published data from October 2020 compares the past month’s results with yearly trends.
Download the October Residential Mortgage Activity report.
Residential Mortgage Activity Report from NSW LRS
NSW Land Registry Services hold the most comprehensive title data bank in Australia. We are in a unique position to offer readers a complete view of changes to the NSW property market. Our data solution is designed to assist users understand changes in the mortgage market.
In-depth reporting on mortgage changes for specific lenders and locational data e.g. postcode or even Statistical Area Level 1 is available through a new subscription service, Mortgage Share Insights. For specific queries about Mortgage Share Insights please contact the team at liaison@nswlrs.com.au