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Aussie Home Loans is ramping up its expansion in Western Australia after CoreLogic RP Data revealed the value of dwellings in the state bounced up by 0.5 per cent last month.
Aussie executive chairman John Symond opened two new Aussie stores this week at Mt Lawley and Cockburn in Perth to take advantage of the reported turnaround in the West Australian property market.
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“We’ve always taken the view that the time for our company, as well as investors, to invest is when markets have been a bit weaker so that we are well positioned to capture the early stages of the growth when the market turns, which it inevitably will,” Mr Symond said.
“In fact, I believe we are already seeing growth in some areas of the market, particularly along the Swan River and southern corridor, as a range of apartment developments are currently underway, attracting young couples and families.
“The upside to the continuing softness in some parts of the state’s property markets is that buyers have a wide range of choices and can take advantage of the historically low interest rates,” he said.
Aussie continues to post record lending levels in Western Australia, with home loan volumes in the first quarter of the financial year the strongest the mortgage broker has seen at $417 million, and the latest store openings lift the number of Aussie stores across the state to 21.
Off the back of this growth Aussie also plans to open an additional three WA stores over the next 12 months and is seeking finance professionals to become franchisees/store owners or to work as mortgage brokers.
The Aussie Group posted a record $20 billion in home loan settlements nationally last financial year.
Mr Symond said the group has ambitious growth targets for the current year and is keen to lift market share in Western Australia through both retail and mobile broker channels.
Aussie now has almost 180 stores across Australia and more than 1,050 mortgage brokers, servicing borrowers who are looking to take advantage of the current historically low interest rates.
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