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For brokers lucky enough to be working in Melbourne’s Casey region or Sydney’s Blacktown, business couldn’t be much better.
A report released by RP Data this week revealed which council regions in Australia saw the most house sales in the past 12 months.
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The data shows that many of the areas on the list sit in the outer suburbs of the main cities, with Blacktown named as NSW’s number one hotspot and Casey leading Victoria.
Mortgage broker Allan Thomson of Smartline, who has worked in and around the Casey region for over 20 years, said the secret to the high house sales is the area’s continual development over the past 25 years.
“In the last 10 years it’s been absolutely huge,” he told The Adviser.
With so much business to go around, brokers around Casey aren’t facing much competition, Mr Thomson said. “I never worry about how many mortgage brokers are in the area. There’s so much work to go around… We’re just in a growth corridor,” he added.
Business has also been on the go for Kiran Saldanha, principal of KPDN in Blacktown, but not necessarily because he’s selling more houses.
“We definitely do see an increase in business but it’s not from a direct implication of the property prices, it’s actually indirect because people who already have stock are seeing an escalation,” he said.
Mr Saldanha said brokers should be careful about advising clients to buy in high growth areas.
“Don’t buy anywhere where the growth is similar to Blacktown at the moment," he said. "I always look at things from the long-term approach. That’s the reason mortgage brokers get a bad name. They never tell you not to buy.”
The report showed that the top five regions in NSW are Blacktown, Wyong, Lake Macquarie, Gosford and The Hills shire.
The top five regions in Victoria were Casey, Greater Geelong, Mornington Peninsula, Wyndham and Hume.
In Queensland the highest figures came from Brisbane, the Gold Coast, Moreton Bay, Sunshine Coast and Logan.
The top regions in South Australia were Charles Sturt, Marion, Port Adelaide Enfield, Adelaide and Holdfast Bay, while WA’s highest regions were Stirling, Wanneroo, Rockingham, Joondalup and Swan.
