Westpac grabs 44% of all new home loans

Wespac's June quarter general disclosure statement (GDS) shows its mortgage book grew by $390 million to $28.93 billion in the three months ended June 30.

While that was down from its $552 million growth in the March quarter, using Reserve Bank figures as a proxy for the mortgage market, Westpac's growth accounted for nearly 44% of all net new lending on mortgages by registered banks in the June quarter.

Also using Reserve Bank figures (actual figures won't be available until all the home lending banks have lodged their June quarter GDSs), Westpac's share of mortgages written by registered banks rose to 17.59% from 17.44% three months earlier.

Westpac's mortgage book has been growing much faster than its share of the market since the December quarter last year.