Tax Reform, Broker Opportunity & Credit Quality

The Australian mortgage market is evolving — and we wanted to share how AFG is thinking about it. 

From proposed changes to negative gearing and capital gains tax, to continued rate pressures and global uncertainty, there's no shortage of complexity for borrowers and brokers to navigate right now. 

Here's our view: 

• Demand for housing doesn't disappear with policy reform. Australia continues to face structural undersupply, unemployment remains relatively low, and housing prices have shown resilience. 

• Complexity drives broker value. Whenever the lending landscape gets harder to navigate, Australians turn to brokers — and for good reason. Brokers offer choice, expertise and personalised guidance that a single lender simply can't replicate. 

• Refinancing remains an opportunity. Refinance activity is currently running well below long-term averages and significantly below prior cycle peaks, suggesting meaningful runway ahead. 

• Our AFG Securities portfolio remains strong and provides a competitive alternative to the major banks. 

As one of Australia's largest mortgage aggregators supporting approximately one in nine residential mortgages written nationally, we're focused on helping our brokers and their customers find the right path forward. 

Brokers have always been at the centre of the Australian home lending market. That's not changing.