Brokers arranged a record 81.6% of new residential mortgages during the June quarter, according to the Mortgage and Finance Association of Australia. Their market share has climbed from 53.9% in June 2018, an increase of 27.7 percentage points in eight years.

Mortgage brokers also facilitated $139.08 billion in new lending during the quarter. That was $17.49 billion more than a year earlier and the highest volume recorded for any June quarter.

The result is notable because mortgage demand has softened following three interest rate increases and changes to investor taxation. Rather than reducing the role of brokers, tougher conditions appear to be encouraging borrowers to seek more assistance.

With borrowing capacities under pressure and lending policies varying between institutions, a broker can compare multiple lenders and explain options that customers may not discover through their existing bank.

The figures also show a structural shift in how Australians arrange finance. Australia is now one of only three countries, alongside the United Kingdom and the Netherlands, where brokers facilitate more than 80% of residential mortgages.

Borrowers should compare recommendations, understand fees and confirm any loan suits their individual circumstances. Broker growth suggests Australians increasingly value having an adviser help navigate lending choices.