December 2021 was a boom month, setting new highs for residential mortgages in NSW, up 10.8% when compared to December 2020.
Other Domestic Banks led the charge, ending 2021 net positive with an additional 16,083 mortgages on their books.
Major Banks lagged, closing 2021 net negative, with 8,776 fewer NSW mortgages.
Refinancing activity also broke records in 2021, up 26.2% compared with 2020.
Director of Analytics and Insights at NSW Land Registry Services, Jerry Goldfried, said a competitive refinance market and active sales turnover have resulted in all-time highs in NSW.
“Despite the refinancing sector seeing all-round growth, Other Domestic Banks were the only segment to record a positive net refinance position, up 8,009 mortgages at the end of 2021,” said Goldfried.
New mortgages volumes were up 22.8% compared with 2020.
Net gains in the new mortgage sector favoured Other Domestic Banks, who landed an 11.6% share of new mortgages and 7.7% of mortgages closed.
Editor’s Note
Comparisons made on data collected since 1994, when digital recording of mortgages on title commenced in NSW.
Other Domestic Banks are classified as Australian banks outside the Big 4, for a full list visit:
https://www.nswlrs.com.au/Documents-Repository/Business-Solutions/MSI-RMA-Segment-Categories
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 December 2021 compares the past month’s results with yearly trends.
Download the 2021 Residential Mortgage Activity report:
https://www.nswlrs.com.au/Business-Solutions/Mortgage-Share-Insights
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. The data can also be segmented into lender specific mortgage wins and losses by geography. For specific queries about Mortgage Share Insights please contact the team at
msi@nswlrs.com.au