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Aussie’s executive chairman John Symond believes the company is now in the best position it has been for a very long time, with brokers to benefit as a direct result.
Speaking at Aussie's National Sales Conference in Sydney yesterday, Mr Symond said Aussie had nothing but “blue skies” in its future.
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“We are now in the best position we can possibly be. Interest rates are sitting at historic lows – the lowest they have ever been and all data indicates that the property market is about to take off,” he said.
“All we need now is renewed consumer confidence and I believe that will come as a result of the election next month.
“We need a government that can govern in their own rights and not be held to ransom by the opinions of certain independents.
“All going well, we will have that after the next election and because of that, I think we will start to see a return in consumer confidence.”
Mr Symond went on to say that CBA’s stake in Aussie had made the company stronger, something they will benefit from as the property market starts to pick up.
“We have the strength of a big bank, but we continue to have choice in the form of other lenders on our panel,” he said.
“The reality is, the big four are huge and they will continue to get bigger. Regional lenders play a niche role and will continue to be important, but they will struggle at some point and that is simply because of the big banks' buying power.
“As such, for us it is good to be aligned with a player that is so big. But, generally speaking, it is business as usual. CBA do not want to change a company that has done so well for so long and continues to improve and grow.”
