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ISCOVER
Staff Reporter
A sluggish credit growth environment hasn’t stopped one of Australia’s largest aggregators from recording unprecedented volumes.
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Vow Financial’s chief executive officer, Tim Brown, said the aggregator had achieved record settlement growth across the network compared to the same period last financial year.
“We have seen a growth of settlements of over 10 per cent year to date,” he said.
“These improvements in settlements can be attributed to a mix of our successful recruitment campaign, 21 per cent increase in new broker loan writers this financial year, alongside uplift in the market.”
Mr Brown went onto say that the rate cuts from the Reserve Bank are starting to have an impact on buyer sentiment, with early signs showing that the property market is firming.
“Sydney and Melbourne’s weekend auction clearance rates continue to produce strong results with clearance rates above 70 per cent achieved every week,” he said.
“This is significantly higher than the 56.6 per cent recorded over the same weekend last year.”
