Macquarie Surges Past Rivals as BOQ and Suncorp Shrink

New APRA data shows Macquarie's housing book grew more than twice as fast as the big four in April 2026, while BOQ and Suncorp keep contracting.

Australia's mortgage market is sorting itself into winners and losers, and the April 2026 figures from the Australian Prudential Regulation Authority (APRA) make the story hard to ignore. Macquarie Bank is sprinting away from the pack, investor lending is outpacing owner-occupier growth at most of the big lenders, and a cluster of regionals is quietly contracting even as the national housing credit cycle churns higher.

The Adviser reports on the latest APRA Monthly Authorised Deposit-taking Institution Statistics, which show the country's ten largest banking groups nudging their combined housing books higher in April — but at very different speeds.

Macquarie Leads the Field — by a Wide Margin

The standout number in the April data belongs to Macquarie Bank. Its total housing loan book jumped $3.52 billion — a 2.03 per cent increase in a single month — to reach $177.2 billion. That rate of growth is several times faster than any of the big four.

Macquarie grew both sides of its portfolio simultaneously. Owner-occupier balances climbed $1.98 billion (1.86 per cent) to $108.4 billion, while investor lending surged $1.55 billion (2.30 per cent) to $68.8 billion. That parallel lift across both borrower types underlines how far the bank has moved from its investment-banking roots into mainstream retail lending.

For borrowers, Macquarie's expansion matters because it keeps competitive pressure on larger rivals. A lender actively chasing volume is more likely to sharpen its pricing and streamline approvals. If you haven't recently checked whether Macquarie or a similar challenger lender stacks up against your current deal, it's worth browsing [today's cheapest home loan rates](/home-loans/cheapest).

Big Four: Steady Growth, No Sprint

The four major banks all grew their books in April, but none came close to matching Macquarie's pace.

Commonwealth Bank's total housing portfolio rose $3.05 billion (0.49 per cent) to $627.5 billion. Westpac added $3.40 billion (0.67 per cent) to reach $512.4 billion — the fastest growth among the majors. NAB gained $1.54 billion (0.44 per cent) to $348.5 billion, while ANZ lifted $1.70 billion (0.53 per cent) to $325.9 billion.

A consistent pattern sits beneath those numbers: investor lending is growing faster than owner-occupier lending at every major bank. ANZ's investor balances jumped more than four times faster in percentage terms than its owner-occupier loans. CBA, Westpac, and NAB each recorded stronger percentage growth on the investor side.

That tilt suggests investors remain sufficiently confident in rental yields and longer-term price prospects to keep adding leverage, even with higher interest rates and tighter serviceability assessments. If you own investment property and haven't recently compared your rate against the market, it's worth exploring current [investor home loan options](/home-loans/investor) — the appetite from lenders like Macquarie, Westpac, and ANZ means competition for your business is real.

Regional Lenders: A Clear Split

The April snapshot reveals a sharp divide among the regionals.

ING Bank Australia grew its total housing book to $73.1 billion, up $0.25 billion (0.35 per cent), with investor lending rising 0.97 per cent. Bendigo and Adelaide Bank also remained in expansion territory, adding $0.15 billion (0.24 per cent) to reach $64.1 billion.

By contrast, Suncorp Bank — which is now part of ANZ and is scheduled to be fully integrated into the ANZ group by 30 June 2027 — continued to retreat. Its mortgage book fell $0.38 billion (0.65 per cent) to $57.3 billion, with owner-occupier loans dropping $0.37 billion (0.91 per cent) to $40.0 billion.

Bank of Queensland (BOQ), which has paused new lending from the broker channel for all but BOQ Specialist and its ME Bank subsidiary, also stayed on the defensive. Its total housing portfolio stands at $52.4 billion, with a -0.19 per cent decrease recorded for the month. Owner-occupier loans fell $0.14 billion (0.38 per cent) to $36.5 billion, while investor balances edged up $0.04 billion (0.25 per cent) to $15.9 billion.

HSBC Bank Australia effectively held steady, edging up $0.01 billion (0.03 per cent) to $34.8 billion.

What This Means for Borrowers

When lenders grow quickly, they compete on price and service. When they pull back, existing customers can get deprioritised. If you're currently with a lender that is actively shrinking its book, it's a reasonable time to check whether you're still on a competitive rate.

The APRA data also reinforces a trend running since late 2025: investor credit is accelerating. Lenders are actively courting property investors, which means the refinance market for investors is genuinely competitive right now. A rate cut of even half a percentage point on a significant loan balance can save thousands of dollars in interest annually.

For owner-occupiers — particularly those coming off a fixed rate or sitting on a loan that hasn't been reviewed in a while — use a [refinance savings calculator](/calculators/refinance-savings) to see what a rate reduction could mean for your monthly repayments. And if you're weighing up whether to [refinance your home loan](/home-loans/refinance), the April lending data suggests you have more options than you might expect.

The broader message from April is simple: Australia's mortgage market is moving at different speeds depending on who you bank with. That competition is your opportunity.

Read the original APRA analysis at [The Adviser](https://www.theadviser.com.au/growth/48499-macquarie-keeps-sprinting-as-suncorp-boq-pull-back).