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Mortgage Brokers in Australia - Industry Market Research Report

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    Report

  • 38 Pages
  • July 2023
  • Region: Australia
  • IBISWorld
  • ID: 4061984

Debt of gratitude: Government support schemes and forecast easing inflation will bankroll brokers

Mortgage brokers have benefited from the relatively resilient Australian housing market in recent years. Despite the effects of the COVID-19 pandemic, factors like the previously record low-interest rates, government stimulus and surging residential housing prices have improved loan values and loan volumes for brokers. Stronger commissions for brokers have grown profit margins and raised wages in the industry. Notably, the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services industries levied significant scrutiny on the conduct of mortgage brokers. As a result of the Royal Commission, numerous lenders changed their remuneration models for brokers, and the government even introduced legislation intended to reform core principles of the industry. These reforms, including a statutory duty to act in the best interest of the borrower, have had varying effects on brokers. Overall, the mortgage brokers industry is expected to grow at an annualised 3.4% over the five years through 2023-24, to total $4.2 billion.

Mortgage brokers in Australia generally act on behalf of lenders, primarily helping borrowers arrange mortgage finance (for both residential and investment real estate purposes) and refinance existing mortgages. Brokers do not usually charge mortgagees any fee for their services, and instead receive commissions on loans arranged for lenders.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.


Table of Contents

ABOUT THIS INDUSTRY
  • Industry Definition
  • Main Activities
  • Similar Industries
  • Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
  • Executive Summary
  • Key External Drivers
  • Current Performance
  • Industry Outlook
  • Industry Life Cycle
PRODUCTS & MARKETS
  • Supply Chain
  • Products & Services
  • Demand Determinants
  • Major Markets
  • International Trade
  • Business Locations
COMPETITIVE LANDSCAPE
  • Market Share Concentration
  • Key Success Factors
  • Cost Structure Benchmarks
  • Basis of Competition
  • Barriers to Entry
  • Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
  • Capital Intensity
  • Technology & Systems
  • Revenue Volatility
  • Regulation & Policy
  • Industry Assistance
KEY STATISTICS
  • Industry Data
  • Annual Change
  • Key Ratios
JARGON & GLOSSARY

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Australian Finance Group Ltd
  • Lendi Group Pty Ltd

Methodology

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