First home buyers choosing Suncorp

Suncorp has beaten out ANZ, Westpac and NAB in its share of the first homebuyer market. The regional bank has seen the biggest gains in first homebuyer market share of any lender over the past year, taking 14.8% of the market last month and peaking at 17.4% in February.

Commonwealth Bank remained the lender of choice for first homebuyers. CBA took a 22.9% share of the market in April.

But AFG general manager of sales and operations Mark Hewitt said the success of Suncorp showed a shift in mindset among first time buyers.

“These dynamics are significant for the mortgage market of the future. First home buyers are a very important part of the overall market, both because they create momentum up the property chain and also because their attitudes signal future trends.”

Source: Broker News