NATION AL

RECORD-BREAKING JANUARY FOR MORTGAGE SALES:

LATEST AFG FIGURES
4 February 2013
AFG, Australias largest mortgage broker, processed more home loans last
month than in any January before, according to new figures published today.
AFG Mortgage Index shows that the company processed $2.2 billion of home
loans, 24% more than in January 2012, despite the natural disasters in QLD
and NSW last month.
AFG has 10% of the total mortgage market (Source AFG and ABS statistics)
and AFG Mortgage Index trends usually foreshadow ABS figures for each
month published six weeks later.
Driving demand were strong levels of activity in WA and NSW. In WA
mortgage volumes were somewhat higher than for NSW ($583 million
compared to $569 million) with a variety of buyer types including first home
buyers, upgraders and investors. NSW would have been even stronger
except for the slump in first home buyer demand by about two thirds since
the withdrawal of first home buyer grants for established properties last
September.
Mark Hewitt, General Manager of Sales and Operations says: Borrowers
seem to be responding to the combination of a more positive, global
economic outlook, lower rates and enhanced affordability. These figures
build on other statistics published recently showing an uplift in activity in
property markets. But we shouldnt lose sight of the fact that first home
buyer activity in Queensland and NSW is only one third of the long term AFG
average of around 15% of all home loans processed.
Fixed rate loans fell to their lowest level since August 2011, comprising
16.3% of all new home loans.
Non major lenders managed to claw back some of the gains majors made
last month, especially among first home buyers.
Figures for each state are available at:www.afgonline.com.au: In the news.

ENDS
CONTACT DETAILS
Mark Hewitt, AFG General Manager Sales & Operations

Mob 0414 801 251 | Tel (08) 9420 7888

David Michie, Mosaic Reputation Management

Tel

(08) 9381 4494 | Mob 0411 453 404

www.afgonline.com.au

AFG MORTGAGES SOLD

TABLE 1: ALL AUSTRALIA
MONTH

TOTAL
NUMBER

TOTAL
AMOUNT

AVERAGE
SIZE

PROPERTY
INVESTORS

FIRST TIME
BUYERS

%
REFINANCE

Nov 11
Dec 11
Jan 12
Feb 12
Mar 12
Apr 12
May 12
June 12
July 12
Aug 12
Sept 12
Oct 12
Nov 12
Dec 12
Jan 13

7,492
5,576
4,736
7,000
7,254
5,937
7,635
6,690
7,027
7,730
6,882
7,719
7,831
5,912
5,893

$2,970 m
$2,188 m
$1,824 m
$2,806 m
$2,930 m
$2,275 m
$3,005 m
$2,635 m
$2,732 m
$3,071 m
$2,708 m
$3,103 m
$3,094 m
$2,376 m
$2,261 m

$396k
$392k
$385k
$400k
$404k
$383k
$393k
$393k
$388k
$397k
$393k
$402k
$395k
$402k
$383k

38.4%
37.8%
35.9%
36.5%
35.5%
35.2%
37.1%
37.0%
35.2%
36.4%
35.5%
35.8%
33.9%
38.0%
36.0%

15.8%
15.7%
15.8%
14.9%
15.6%
15.8%
15.8%
15.6%
17.3%
15.9%
13.2%
15.4%
12.9%
12.5%
13.2%

37.8%
36.2%
37.3%
36.6%
37.6%
36.2%
35.8%
39.1%
36.9%
35.4%
35.2%
34.8%
34.9%
36.3%
34.1%

MAJOR VS NON MAJOR LENDER MARKET SHARE

TABLE 2 : BY BUYER T YPE

MONTH

MAJOR

NONMAJOR

MAJOR

NONMAJOR

FIRST HOME
BUYERS
MAJOR
NONMAJOR

2011 12
2012 01
2012 02
2012 03
2012 04
2012 05
2012 06
2012 07
2012 08
2012 09
2012 10
2012 11
2012 12
2013 01

75.7%
79.0%
76.1%
77.1%
78.4%
77.4%
77.2%
77.6%
77.8%
76.0%
77.1%
78.4%
77.4%
76.5%

24.3%
21.0%
23.9%
22.9%
21.6%
22.6%
22.8%
22.4%
22.2%
24.0%
22.9%
21.6%
22.6%
23.5%

71.2%
78.9%
78.7%
78.2%
76.0%
77.6%
77.1%
73.3%
75.9%
75.2%
73.7%
74.0%
74.0%
73.6%

28.8%
21.1%
21.3%
21.8%
24.0%
22.4%
22.9%
26.7%
24.1%
24.8%
26.3%
26.0%
26.0%
26.4%

71.7%
72.6%
70.9%
70.1%
71.4%
67.0%
73.5%
75.1%
74.6%
74.3%
71.7%
74.9%
77.6%
75.2%

TOTAL MORTGAGES

REFINANCE

www.afgonline.com.au

28.3%
27.4%
29.1%
29.9%
28.6%
33.0%
26.5%
24.9%
25.4%
25.7%
28.3%
25.1%
22.4%
24.8%

INVESTORS
MAJOR

NONMAJOR

78.0%
83.1%
82.9%
82.7%
82.8%
82.6%
82.4%
82.0%
81.8%
81.3%
80.9%
80.8%
80.7%
80.5%

21.9%
16.9%
17.7%
17.3%
17.2%
17.4%
17.6%
18.0%
18.2%
18.7%
19.1%
19.2%
19.3%
19.5%

AVERAGE MORTGAGE SIZE IN DOLL ARS

TABLE 3 : STATE BY STATE
MONTH
2011 11
2011 12
2012 01
2012 02
2012 03
2012 04
2012 05
2012 06
2012 07
2012 08
2012 09
2012 10
2012 11
2012 12
2013 01

AUSTRALIA
396,520
392,559
385,337
400,864
404,003
383,252
393,608
393,913
388,919
397,303
393,625
402,120
395,149
402,060
383,810

NSW
449,942
450,620
437,476
471,690
476,278
438,067
471.848
470,804
441,236
476,061
454,687
478,148
473,172
471,157
443,931

QLD
352,252
361,439
351,966
339,361
352,485
340,197
346,883
348,646
343,672
348,579
347,953
347,026
348,444
340,237
342,836

SA
318,437
325,937
312,596
317,469
333,712
314,486
313,056
303,657
314,866
325,877
304,005
320,793
315,773
310,840
325,629

VIC
400,929
376,570
389,634
409,651
397,739
384,380
379,130
381,493
399,317
385,407
380,811
396,997
379,949
392,193
376,871

WA
418,360
409,917
406,222
421,297
418,589
403,784
412,752
409,099
396,215
402,290
419,076
412,952
403,944
431,685
394,396

NT
376,376
395,489
374,604
382,027
346,622
359,067
345,645
390,389
415,627
373,628
412,581
375,339
365,993
426,906
355,608

WA
68.7%
69.9%
70.2%
69.8%
69.5%
69.3%
70.7%
70.1%
68.2%
70.7%
73.6%
71.6%
70.8%
70.8%

NT
66.1%
70.9%
66.7%
65.6%
69.8%
68.9%
64.6%
64.6%
66.8%
68.6%
67.1%
64.4%
69.1%
64.2%

LOAN VALUE RATIOS (loan stated as % of property value)

TABLE 4: STATE BY STATE

2011 12
2012 01
2012 02
2012 03
2012 04
2012 05
2012 06
2012 07
2012 08
2012 09
2012 10
2012 11
2012 12
2013 01

AUSTRALIA
67.5%
68.9%
67.7%
67.6%
67.8%
67.5%
66.9%
67.7%
68.6%
69.0%
70.5%
69.0%
68.5%
67.9%

NSW
69.6%
67.9%
66.7%
67.5%
65.4%
66.1%
67.2%
67.3%
69.1%
68.0%
69.3%
67.5%
66.7%
64.9%

QLD
68.4%
66.3%
68.1%
67.4%
66.2%
65.8%
65.3%
68.5%
67.8%
68.6%
70.5%
68.3%
68.1%
69.0%

SA
67.7%
67.6%
66.4%
66.2%
67.5%
66.1%
65.3%
65.7%
69.7%
69.2%
70.1%
72.1%
66.9%
67.3%

www.afgonline.com.au

VIC
64.7%
70.8%
68.0%
69.1%
68.1%
68.6%
68.3%
69.7%
70.1%
69.3%
72.4%
69.8%
69.2%
70.9%

LOAN T YPE
TABLE 5: ALL AUSTRALIA
MONTH
Dec 11
Jan 12
Feb 12
Mar 12
Apr 12
May 12
June 12
July 12
Aug 12
Sept 12
Oct 12
Nov 12
Dec 12
Jan 13

BASIC
9.4%
10.7%
9.7%
8.8%
10.6%
10.3%
10.5%
10.9%
9.2%
9.0%
9.5%
8.7%
9.1%
9.0%

EQUITY
7.3%
7.5%
6.6%
6.7%
7.4%
8.0%
7.6%
7.5%
6.8%
6.6%
5.9%
5.7%
6.3%
5.6%

FIXED
19.2%
18.6%
23.2%
25.4%
21.0%
19.7%
16.5%
16.8%
19.9%
21.5%
20.8%
21.6%
18.7%
16.3%

INTRO
3.9%
3.8%
3.5%
3.6%
3.4%
3.1%
2.9%
5.4%
5.2%
5.7%
5.5%
4.8%
2.6%
2.9%

STANDARD
60.2%
59.4%
57.0%
55.4%
57.5%
58.9%
62.5%
59.3%
58.8%
57.2%
58.2%
59.2%
63.3%
66.0%

DEFINITIONS
1. Standard Variable: includes the full range of features available.
2. Basic Variable: without some features, lower fees and rates.
3. Intro: also known as honeymoon where the borrower is offered a very cheap initial rate (fixed or
variable) before the loan reverts to a Standard Variable.
4. Fixed: interest rate is fixed for a nominated period before it reverts to a Standard Variable.
5. Equity: also known as line of credit allows the borrower to draw out money up to a specified limit.
Generally more expensive than Standard Variable loans.
th

NOTE TO EDITORS
AFG is Australias largest mortgage broker. Established in 1994, the company now provides more than 20% of
brokers nationwide with access to Australias leading lending institutions, and has a mortgage book in excess of
$65 billion.

www.afgonline.com.au