Suncorp lifts mortgage lending

Suncorp Bank and Heritage Bank are two banks growing quickly in the home loan market, monthly data from APRA shows.

The Queensland-based lenders increased lending for home loans by 3.1 per cent and 2.9 per cent respectively over the three months to May 2011, or around twice the rate of growth by all banks of 1.5 per cent.

Among major banks National Australia Bank and ANZ continues to grow in the home loan market above system, though ANZ's rate of growth moderated in May.

Financial aggregates prepared by the RBA put the quarterly rate of growth in home loans in Australia in the three months to May at 4.7 per cent on an annualised basis. This rate of growth is lower than during the later months of 2011 but still a little higher than the low point in the rate of growth for this series in the winter of 2011.