Weekly Mortgage Applications Survey Australia 2025: Key Insights

Australia’s property market has always been a hot topic, but in 2025, the stakes are even higher. The Weekly Mortgage Applications Survey, released each Wednesday, has become a must-watch for buyers, investors, and policymakers alike. This survey tracks the volume and value of new mortgage applications, painting a real-time picture of housing market sentiment.

With interest rates stabilising after a tumultuous 2024 and the Reserve Bank of Australia (RBA) signalling a cautious approach, weekly mortgage application numbers are now a leading indicator for:

• Homebuyer confidence — Are Australians ready to jump back into the market?

• Investor appetite — Is there renewed interest in property as an asset class?

• Lender competitiveness — How are banks and non-bank lenders adjusting rates and criteria?

So, what do the latest numbers reveal? As of May 2025, the survey shows:

• Mortgage applications up 6% year-on-year, signalling growing optimism as wage growth and population increases drive demand.

• First-home buyer applications rising following the expansion of the First Home Guarantee scheme, which now covers properties up to $900,000 in major cities.

• Refinancing applications remain high as borrowers chase competitive fixed-rate deals after last year’s variable rate shocks.

Interestingly, regional areas are outperforming metropolitan ones in application growth, as flexible work policies and improved infrastructure make non-capital cities more appealing.

2025 has seen several important policy shifts impacting mortgage applications:

• APRA’s serviceability buffer remains at 3%, but industry groups are lobbying for a reduction to help more buyers qualify for loans.

• Green home loan incentives introduced by major banks, offering discounted rates for energy-efficient properties, have spurred a surge in related mortgage applications.

• Stamp duty reforms in NSW and Victoria are boosting interest, especially among younger buyers, by lowering upfront costs for owner-occupiers.

Additionally, the RBA’s steady hand in 2025—with no cash rate increases since December 2024—has calmed market nerves, encouraging would-be buyers to apply with greater confidence.

Reading the Weekly Mortgage Applications Survey isn’t just for economists—it’s a practical tool for everyday Australians. Here’s how you can use it:

• Timing your purchase: Surges in applications can signal rising competition, while dips may offer more negotiating power.

• Assessing lender offers: High application volumes often prompt lenders to sharpen their rates or introduce special deals.

• Understanding policy impact: Watch how changes—like new grants or lending rules—affect buyer activity in real time.

For investors, these trends help identify hot (and cooling) suburbs, as well as shifts in borrower preferences—such as the growing popularity of green home loans or interest-only options.

The Weekly Mortgage Applications Survey is more than just a set of numbers—it’s a window into the collective mood of Australian homebuyers and lenders. By keeping an eye on these weekly updates, you’ll be better equipped to make smart, timely decisions in a dynamic property market.