Brokers expect business boost from federal housing policies

More than two-thirds of Australia’s mortgage brokers believe the federal government’s recent housing initiatives will lead to an increase in business activity, according to the latest broker poll from the Finance Brokers Association of Australia (FBAA). 

The bi-monthly survey found that 68% of brokers anticipate growing demand due to Labor’s pledge to reduce the minimum deposit for first-home buyers and commit $10 billion towards building 100,000 homes. 

FBAA managing director Peter White (pictured) said the results highlight the importance of brokers being well informed about government programs.  

“Following Labor’s pledge to give all first-home buyers access to 5% deposits and invest $10 billion to build 100,000 homes, 68% of brokers expect increased demand for their services, with 9% foreseeing a significant rise,” White said. 

“With this expanded access, brokers must be well-versed in the new 5% deposit rules and other government schemes to support buyers entering the property market.” 

In separate remarks, he noted that the industry remains in “very good shape” despite interest rate uncertainty, and urged brokers to stay focused on compliance, marketing, and business planning as borrower activity ramps up. 

Understanding policy opens opportunity 

While broker sentiment on the wider impacts of Labor’s housing agenda is mixed, White said those who take time to understand the details are best placed to benefit. 

“Brokers who make the effort to understand the initiatives can reap the rewards,” he said. 

The poll showed broker opinion on the overall industry impact of a Labor government was split, with 33% expecting a positive outcome, 38% expecting a negative one, and 29% remaining neutral. 

Signs of improved wellbeing among brokers 

The survey also delivered good news on broker wellbeing. Compared to April, fewer brokers reported work-related stress in May and more felt supported. 

“More brokers report being unaffected by stress in the past six months (52% in May vs. 38% in April), alongside a drop in those feeling unsupported in managing stress at work (25% vs. 41%),” White said. 

Younger brokers more optimistic 

The survey highlighted a generational divide in sentiment, with younger brokers more optimistic about the policy environment. 

• 42% of brokers aged 50 or younger viewed Labor’s housing changes positively, compared to just 27% of brokers over 50. 
• Most brokers expect refinancing volumes to rise in the next six months, particularly newer and younger brokers who forecast stronger growth. 
• The lack of affordable housing was cited as the top barrier to home ownership, followed closely by deposit hurdles and serviceability constraints. 

While brokers broadly welcome the lower deposit requirement, some market participants – including mortgage insurers and industry analysts – have raised concerns about systemic risk, housing inflation, and supply constraints. These will be important for brokers to consider when advising clients in a heated market. 

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