Four states recorded a rebound in lending activity, including for refinancing.

Mortgage Broker Melbourne activity rebounded in November across the states of New South Wales, Queensland, Victoria, and Western Australia in November.

The latest figures from PEXA showed that new loans have grown by 11.2% on average across the four states, with Queensland hitting the highest gain at 14.8%.

In terms of residential loans, Victoria posted the biggest gain at 15.8%, with Queensland closely behind with 15.7%.

Still, Queensland reported the highest volume of residential lending activity during the month, with 13,903 settlements recorded.

Refinancing shoots up

Refinancing activity also bounced back across the states, save for Victoria.

New South Wales posted a refinancing volume of 11,487, representing a jump of 10.3% over the past month.

Western Australia also registered a similar growth of 10.1%, bringing the total refinancing volume to 3,015.

Queensland takes the top spot again in terms of growth, with refinancing volume increasing by 14.9% to 6,552.

On the other hand, refinancing activity went slightly down in Victoria, where volumes declined by 1.3% to 11,015.

Majors, non-majors assert dominance

Interestingly, major banks maintained their hold on the biggest states.

In New South Wales, major banks increased their net position for new Best Mortgage Broker Sydney while non-major lenders continued to lose their market share.

Victoria, on the other hand, saw non-majors boost their net position but remained under majors, which reported a decline in their net position.

Non-major lenders dominated Queensland and Western Australia, and even increased their gap with major banks.

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