Macquarie and ING Lead March Investor Lending Surge

Fresh APRA data reveals Macquarie and ING racing ahead of the big four in investor home lending, while BOQ and Suncorp both contract their books.

Australia's mortgage market is splitting into clear winners and losers. Fresh data from the Australian Prudential Regulation Authority (APRA) for March 2026 shows Macquarie Bank and ING Bank Australia growing their home loan books at a pace the big four banks can't match — while regional rivals BOQ and Suncorp both contracted.

The APRA Monthly Authorised Deposit-taking Institution Statistics for March 2026 showed the country's 10 largest banking groups holding a combined housing loan book of approximately $2.26 trillion. The headline number is less interesting than what's happening underneath: a widening gap between lenders actively chasing new business and those letting their books run down.

Macquarie Extends Its Rapid Climb

Macquarie Bank once again posted the fastest housing-book growth of any major-tier lender. In March, its total housing loans jumped $3.56 billion — a 2.09 per cent rise — to reach $173.7 billion, a gain that outstripped every big four bank in both percentage and dollar terms for the month.

The growth was broad-based. Macquarie's owner-occupier portfolio grew $2.11 billion (2.11%) to $106.4 billion, while its investor balances surged $1.45 billion (2.21%) to $67.3 billion. As [The Adviser reports](https://www.theadviser.com.au/lender/48374-macquarie-ing-charge-ahead-as-boq-suncorp-retreat), the bank's growth rate is now "several times that of the big four," reflecting its sustained push into the mainstream mortgage market.

The four majors expanded more modestly. CBA grew its total housing book $3.10 billion (0.50%) to $624.5 billion, while Westpac added $2.47 billion (0.49%) to reach $509 billion. NAB posted $1.35 billion growth (0.39%) to $347 billion, and ANZ lifted its total by $1.54 billion (0.48%) to $324.2 billion. Across the board, monthly growth stayed below 0.6 per cent for the majors.

For borrowers, this competitive dynamic is worth paying attention to. When a lender is growing at pace, it's usually because it's offering terms the market finds attractive. If you haven't checked what's available beyond your existing bank, [comparing current home loan rates](/home-loans/cheapest) is a sensible starting point.

ING Pivots Hard Toward Investors

The most striking shift in March came from ING Bank Australia. Its total housing book barely moved — up just $0.06 billion (0.09%) to $72.9 billion — but that flat headline masked a dramatic rotation within the portfolio.

Owner-occupier balances at ING fell $1.69 billion, or 2.99 per cent, to $54.8 billion. At the same time, investor lending balances surged $1.76 billion — a 10.78 per cent rise in a single month — to reach $18.1 billion. The Adviser describes this as "a deliberate recalibration of the portfolio," suggesting ING is actively choosing to grow its investor book while letting owner-occupier loans wind down.

For property investors, concentrated lender appetite often translates into more competitive pricing. A lender actively targeting investor business typically sharpens its offers to win it. You can [explore current investor home loan options](/home-loans/investor) to see how lenders are positioned right now.

BOQ and Suncorp Pull Back

Not every lender is chasing growth. Bank of Queensland and Suncorp both contracted their housing books in March.

BOQ recorded a $0.33 billion (0.63%) fall in total housing balances to $52.5 billion. Its owner-occupier portfolio declined 0.70 per cent to $36.6 billion, and investor loans fell 0.45 per cent to $15.8 billion — a pullback across both segments. Suncorp's book slipped $0.17 billion (0.29%) to $57.7 billion, with owner-occupier balances falling 0.69 per cent to $40.4 billion while investor loans edged up 0.65 per cent to $17.3 billion.

Bendigo and Adelaide Bank offered a different story among the regionals, growing its total housing book by $0.52 billion (0.82%) to $64 billion, with measured expansion across both borrower types.

Investor Lending Is Outpacing Owner-Occupier Growth

Across much of the top-10 cohort, investor lending is now growing faster than owner-occupier lending — a trend that became visible through late 2025 and extended into March 2026. CBA, Westpac, and NAB each posted stronger percentage growth in their investor books than in their owner-occupier portfolios for the month. ANZ, Macquarie, and ING all reported notably brisk investor lending gains.

This pattern suggests property investors remain willing to borrow despite higher interest rates — confident enough in rental yields and long-term price prospects to keep adding leverage.

For anyone sitting on a mortgage they haven't reviewed recently, this lender competition is an opportunity worth acting on. Use a [refinance savings calculator](/calculators/refinance-savings) to put a dollar figure on what switching might be worth, and a [borrowing power calculator](/calculators/borrowing-power) to understand your current position before approaching lenders. The APRA data captures one month, but the consistent pattern of Macquarie gaining and some regionals contracting is several months old now — understanding which lenders most want your business is a practical starting point for any mortgage conversation.