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2
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· Posted on
February 21, 2024

ANZ invests $50m into online real estate biz to spread its home loans far and wide

ANZ invests $50 million in real estate transaction market disruptor, View Media Group.

What's the key learning?

  • Residential property lending is a massive money maker, with the big 4 banks currently holding over 90% of the markets mortgages.
  • There are currently $2.1 trillion worth of mortgages against the big 4 banks and the market is only becoming more and more competitive.
  • ANZ is doing what it can to find new avenues to home loan customers.

👉 Background: View Media Group, which launched last year, plans to disrupt the real estate transaction market. They're trying to take on the current big players like Domain and RealEstate.com.au.

👉 What happened: Previously Seven West Media, the owner of Channel 7, had invested in View Media Group. And now they’ve received a not-small $50m investment from ANZ for a minority stake in the company.

👉 What else: It seems like ANZ is so keen for this investment because of its desire to build their footprint in mortgages, a very lucrative lending space.

What's the key learning?

💡 Residential property lending is the cash cow of the banking sector in Australia and that's why the Big 4 banks, currently hold over 90% of the residential property market mortgages.

💡There are currently 6 million homes with mortgages against them, worth a collective $2.1 trillion. But over the past couple of years, ANZ has seen its mortgage book actually go backwards.

💡But the home loan market is becoming more and more competitive. Between banks, non-bank lenders and even other large companies jostling their way in. So ANZ is desperate to find new ways to acquire home loan customers and View Media Group may be their answer.

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