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Westpac Faces Declining Mortgage Market Share in Competitive Landscape

Analyzing the Shift in Australia's Home Loan Market Dynamics

Westpac Faces Declining Mortgage Market Share in Competitive Landscape?w=400

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

Recent data from the Australian Prudential Regulation Authority (APRA) indicates that Westpac has experienced a significant decline in its share of the Australian mortgage market.
Since March 2019, the bank's market share has decreased by 3.2 percentage points, now standing at 20.7% of the nation's $2.46 trillion mortgage market.

In contrast, the Commonwealth Bank of Australia (CBA) has expanded its market share during the same period. CBA's mortgage book grew from $429 billion in March 2019 to $624 billion in March 2026, capturing approximately 26% of all new mortgage lending in Australia over these seven years.

Westpac's decline is partly attributed to disruptions in its broker relationships following the Royal Commission into Banking. The bank's response included tightening credit policies and temporarily withdrawing from certain broker segments, which may have impacted its market position.

For mortgage brokers and borrowers, this shift underscores the importance of evaluating lender options carefully. While Westpac has invested in enhancing its broker propositions, the competitive landscape suggests that exploring various lenders could yield more favorable loan terms and conditions.

As the mortgage market continues to evolve, staying informed about lender performance and market dynamics is essential for making strategic borrowing decisions.

Published:Thursday, 7th May 2026
Author: Paige Estritori

Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.

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Knowledgebase
Adjustable-Rate Mortgage (ARM):
A type of mortgage in which the interest rate applied on the outstanding balance varies throughout the life of the loan.

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