Record mortgage refinancing signals strong competition in Australia’s home loan market
A record number of Australians refinanced their home loan in 2025, with new data from the Australian Bureau of Statistics showing 640,137 mortgages were refinanced over the year – a 20% increase compared with 2024.
The figures point to strong competition across the home loan market, with 64% of borrowers switching lenders as part of the surge in refinancing activity. According to the Australian Banking Association, the trend reflects households actively reviewing their loan settings and comparing offers as lenders compete on pricing, features and digital capability.
Encouragingly, first home buyer lending also strengthened, rising 6.8% in the December quarter, with more than 125,500 loans written to first home buyers over the year. Despite affordability pressures, demand to enter the property market remains steady, while existing borrowers continue seeking better value from their finance arrangements.
About the author – Alex Veljancevski is a Sydney Mortgage Broker with Eventus Financial, which assists first home buyers, investors, upgraders and borrowers seeking to refinance to a better deal on their home loan.