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ISCOVER
Staff Reporter
A soft property market has not stopped one of Australia's biggest brokerages from recording impressive growth in home loan lodgements and settlements.
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Yesterday, Aussie reported that its lodgements were up 27 per cent and settlements up 27 per cent on October 2011.
“We have not seen enormous sales results like this since March 2009, when we acquired Wizard, so these results are exceptional, considering the soft market conditions and given they don’t include any acquisitions or other anomalies,” Aussie's chairman John Symond said.
“Our first quarter has also been pleasing with profit above budget as our sales team continues to deliver record settlements, supported by strong results from our Aussie home loan and non-mortgage product range.”
All states recorded strong settlement growth vs prior year, with stellar performances from WA and Queensland recording massive 53 per cent and 42 per cent increases respectively.
“Despite widespread pessimism about the state of the housing market, it appears that house prices have bottomed and there is a slight improvement in consumers’ confidence,” Mr Symond said.
The October results build on a successful first quarter for Aussie which has recorded an overall settlement increase of 19 per cent over last year.
