Australia had 24,116 mortgage brokers in 2025, according to the Mortgage & Finance Association of Australia (MFAA). Brokers also handled 81.6% of new residential home lending in Q2 2026. The first figure counts brokers. The second measures their share of lending volume.
The headcount comes from the MFAA's State of Mortgage & Finance Broking Report 2026. Its public industry summary confirms the 2025 figure. Keep the reporting period beside either statistic when you quote it.
How Many Mortgage Brokers There Are
The MFAA reports 24,116 mortgage brokers for 2025. Its earlier Industry Intelligence Service 19th edition counted 22,265 at the end of Q3 2024.
These are separate report observations. The annual report's 2024 comparison base is 22,105, so its reported 9.1% growth uses that base. Applying 9.1% to the earlier IIS count would mix the two series.
The headcount counts individual brokers, including people working within larger businesses. It is different from a count of brokerage brands. Figures such as 17,000 are older estimates and do not describe the industry measured by these reports. For business size and networks, see the largest mortgage broking businesses.
Broker Share of New Home Lending
Mortgage brokers handled 81.6% of new residential home lending in Q2 2026, according to the MFAA statement using Cotality data. Brokers facilitated $139.08 billion in new lending during that quarter.
Channel share measures lending volume, not the percentage of Australians who use a broker or the number of brokers working. It also concerns new lending, so it does not mean brokers manage 81.6% of every outstanding home loan.
A larger average loan can increase lending value without an equal increase in customer numbers. Keep headcount, loan count and settlement value separate when comparing industry figures with your own business.
How Broking Became the Dominant Channel
Borrowers use brokers to compare lenders through one conversation and get help with documentation and applications. Support after settlement also gives clients someone to contact when their loan needs change.
The best interests duty took effect in 2021. It requires mortgage brokers to act in consumers' best interests and prioritise those interests when providing credit assistance. The Australian Securities and Investments Commission's guidance explains that obligation.
For borrowers weighing up the two channels, the broker versus bank comparison explains how access to lenders and the application process differ.
Where Brokers Operate
New South Wales, grouped with the Australian Capital Territory, and Victoria have the largest broker populations in the IIS 19th edition's state distribution. Queensland and Western Australia follow. These are state-level figures, so they do not establish demand in an individual suburb.
Metropolitan markets give a brokerage access to more borrowers, with more brokers competing for their business. Regional markets can support close local referral relationships, but a smaller pool of transactions can make settlement volumes less consistent.
For a new office, compare local property turnover and potential referral relationships with the number of established brokers. A national growth figure alone cannot tell you whether a particular territory can support another brokerage.
What the Share Means for Lenders and Borrowers
A channel handling more than four-fifths of new home lending gives lenders a reason to compete for broker-written business. Panel access and application turnaround times affect which lenders brokers can put in front of clients.
Borrowers can compare options across a broker's lender panel, while smaller lenders can reach customers beyond a branch network. A panel still has boundaries. A high national broker share does not mean every broker compares every lender or that one channel guarantees the cheapest loan.
Channel Share Versus Your Share
The national channel share describes the whole industry. Your brokerage's results depend on the clients it attracts and the applications it settles. Review four measures each quarter.
- Compare settlement value and loan count with the previous quarter and the same quarter a year earlier. Separate larger loans from an increase in completed deals.
- Check your referral mix. Record how much business comes from existing clients, professional referrers and paid marketing. Identify dependence on one source.
- Measure conversion by source. Divide settled loans by qualified enquiries from each source, using the same definitions and allowing time for applications to settle.
- Compare with an aggregator peer benchmark. Use a group with a similar business model and compare the same period and measure.
For example, a hypothetical brokerage receives 100 qualified enquiries and settles 25 loans. Its enquiry-to-settlement conversion is 25%. Comparing that result with the national 81.6% channel share would compare different measures.
Track My Trail's Performance Dashboard charts the loan book and commission income over time, helping you compare business trends with settlement results. For how revenue translates into a broker's income, see what mortgage brokers earn.
What to Watch in Broking
Back-office automation can reduce repeated data entry and document handling. Brokers still need to assess client circumstances and take responsibility for credit assistance. Measure whether a process saves time and reduces corrections before expanding its use.
Watch the housing cycle through your purchase and refinance enquiries. Changes in transaction volumes can affect your pipeline even when brokers retain a large national channel share. Borrowers with complex circumstances also need help understanding home loan eligibility.
Advice breadth is another decision for a brokerage. Commercial, business and asset finance can widen the work it handles, but require relevant knowledge and support. The MFAA's annual report overview identifies growth beyond residential lending.
Review referrals and partnerships alongside that choice. Track which partners introduce suitable clients and which relationships generate settled business. A growing channel gives you a market to compete in, while these measures show where to spend your time.
Becoming a Broker in Australia
The qualification pathway starts with the Certificate IV in Finance and Mortgage Broking (FNS40821), with the Diploma of Finance and Mortgage Broking Management (FNS50322) required for MFAA membership. The guide to becoming a mortgage broker explains qualifications, licensing arrangements and ongoing professional development.
Figures Worth Quoting
Use 24,116 mortgage brokers for the 2025 headcount, attributed to the MFAA's State of Mortgage & Finance Broking Report 2026. The MFAA confirms it in its industry summary.
Use 81.6% for brokers' share of new residential home lending in Q2 2026, attributed to the MFAA's Cotality-based quarterly statement. Keep that period and lending-volume basis beside the percentage in a presentation or business plan.
