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The latest MFAA Quarterly Market Share Report, based on settlement data from major aggregators and compiled by Cotality, shows broker market share has reached its highest level since records began more than a decade ago.
The result marks a significant leap was already a trajectory of sustained growth.
Compared with the same quarter last year, broker share has climbed more than four percentage points from 76.8 per cent and sits almost seven points higher than March 2024, when brokers accounted for 74.1 per cent of new lending.
The latest figure also surpasses the previous record of 76.7 per cent set in the December 2025 quarter.
Volumes tell a similarly impressive story, with brokers settling $124.88 billion in new home loans between January and March – up $25.51 billion on the same period a year earlier and the strongest March-quarter result ever reported by the MFAA.
The milestone comes despite a backdrop of elevated interest rates, cost-of-living pressures and fierce competition from lenders.
"Over the eight years of the MFAA's survey data, broker market share has grown from 55.3 per cent in March 2018 to 81 per cent in March 2026, an increase of 25.7 percentage points," said MFAA chief executive, Anja Pannek.
"Australia now joins the United Kingdom and the Netherlands as one of only three countries globally where mortgage brokers facilitate more than 80 per cent of mortgage lending."
Complexity and confidence key drivers
Pannek said the latest figures reflected the growing reliance borrowers place on professional credit advice in Australia’s increasingly complex lending environment.
"This result is a strong reflection of the work brokers do every day to help Australians understand their options, access competition and choice, and make informed lending decisions," Pannek said.
"When more than eight in ten new home loans are being facilitated by brokers, it shows the trust consumers are placing in the channel and the value they see in having expert guidance through an increasingly complex lending market."
Pannek pointed to higher repayments, affordability challenges and persistent cost-of-living pressures as key reasons more Australians were seeking support from brokers.
"Over the past year, borrowers have continued to navigate housing affordability pressures, cost-of-living pressures and changing expectations around interest rates," she said.
"For many Australians, particularly those entering the property market for the first time, working with a broker has been critical in understanding their options and making informed decisions."
Similarly on the commercial lending side, brokers have been highlighted as key strategic advisers for businesses facing uncertainty.
Record share despite tougher trading conditions
Despite the record market share result, Pannek said many broking businesses continue to operate in what has become a turbulent business environment.
"While this is an important milestone for the industry, we also recognise that business operating conditions are challenging," she said.
"Economic uncertainty, cost pressures, shifting consumer confidence and global instability are all affecting business resilience. Like many small and medium-sized businesses across Australia, broking businesses are having to remain focused, disciplined and adaptable."
She said the latest result should be viewed not only as a market share achievement but also as a reflection of the resilience demonstrated by brokers across the country.
"That is why this result should be recognised not only as a market share milestone, but as a reflection of the professionalism, persistence and client focus brokers continue to demonstrate in changing conditions," she added.
[Related: The new era of broking: How brokers are innovating in 2026]
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