More people are looking for a better deal on their mortgages, as first home buyer loans rise 6.8 percent.
Australian Bureau of Statistics data released today show a 20 percent jump in the number of homeowners refinancing, with 640,137 more mortgages renegotiated or switched in 2025 compared to 2024.
Australian Banking Association CEO Simon Birmingham said the surge demonstrated the competitiveness of Australia’s home loan market.
“It’s clear Aussies have their eye on the ball when it comes to shopping around for a better deal,” Mr Birmingham said in a statement.
“The strong competition within the home loan market is loud and clear in this data, with 64 percent of mortgage holders who refinanced doing so by switching to another lender.
“This is a timely reminder that it can pay to regularly check in with your lender to see if you can get better terms on your home loan or even test the broader market and see what other deals are out there.”
Meanwhile, first home buyer loans rose by 6.8 percent across the December 2025 quarter to 31,783.
The results were helped by changes to government policies supporting first-home buyers including the expansion of the Five Percent Deposit Scheme and the introduction of the Federal Help to Buy Scheme.
ABS Head of Finance Statistics Dr Mish Tan said it was the largest rise in the number of first home buyer loans since the December 2023 quarter, with the value increasing by 15.5 percent.
“There was strong growth across all borrower types this quarter,” Dr Tan said in a statement. “The number of investor loans also rose 5.5 percent, as did the owner-occupier non-first home buyer loans which increased by 3.6 percent.”
