Brokers account for nearly two thirds of the growth in the home loan market over the last year but their share of the entire mortgage market dropped in the December quarter.
During that December quarter brokers settled $43.7 billion worth of home loans.
The Mortgage Finance Association of Australia (MFAA) commissioned the research which shows the broker market share dropping from 51.5 percent to 50.5 per cent in the December quarter.
Over the whole year, the research found brokers accounted for 64.7 per cent of the growth in the mortgage market. In the four quarters ending December 2014 there was a 28 per cent growth in total business attributable to brokers from the previous year, hitting a total of $158.5 billion.
MFAA chief executive Siobhan Hayden told The Adviser that the two thirds contribution to growth shows customers continue to choose brokers.
“We continue to encourage consumers to select a broker to help them make the right choices when it comes to home loans,” she said.
“Our members offer highly experienced credit advice, and these figures demonstrate that this advice is effective.”