An extensive survey and discussion has revealed that Australia's 4 major banks will continue to rule and dominate the home lending market well into 2010, as small lenders will continue to be restrained due to funding costs.

The survey involved 10 major players in the country's sector of home lending, and it was revealed that 9 of them over all thought that the big banks would continue to take charge of and approve over 80% of all the new home loans in 2010, and 2 participants even estimated that 90% of all loans would be under the wings of these banks.

"I think there is a healthy level of competition in the market now; and within our group we have several brands competing internally as well", said Axel Boye-Moller, the Head of Mortgages at Westpac.

The survey and discussion was undertaken by Deloitte, a financial consultancy firm, and the big names involved included Westpac, Commonwealth Bank, Aussie Home Loans, AMP Bank and Community First Credit Union.

An interesting discovery that was noted by the survey was that while the big banks will definitely be achieving more market share, the same cannot be said about revenues, as the economy is still in the preliminary recovery stages.