Aussie confident that strong buyer activity will continue in 2021

[ad_1]

After closing 2020 with solid figures across the board, Australian CEO James Symond expressed confidence that the group’s growth will continue into the new year.

“We are very confident that Aussie’s lending volumes will continue to grow to over $ 18 billion in fiscal 2021 – amid the dynamic real estate market, record lending conditions and despite continued economic and social pressures. exerted on all of us by the COVID -19 pandemic, ”he said.

In the past calendar year, the broker group’s settled loan volume increased 11% to $ 17.7 billion, largely driven by demand from refinancers, movers and first-time homebuyers.

Given that the Aussie saw a 28% increase in loans to first-time buyers over the 12-month period, Symond expressed particular confidence that the subset of borrowers will remain active in the new year as people continue to take advantage of historically low interest rates and government measures. available to support them.

“The year has been dominated by very strong competition among lenders, particularly in their fixed rate products, and this is expected to continue as both fixed and variable interest rates continue to be refined,” Symond said.

“We are seeing a return in consumer confidence. I believe the comeback of the Australian property market will continue for some time, especially with government programs continuing to help first-time buyers enter the property market. “

For the CEO, it is indisputable that mortgage brokers have continued to prove themselves as a crucial part of the housing ecosystem.

“Mortgage brokers, who provide over 50% of home loans in Australia, are proving their worth right now by helping borrowers navigate their way through the abundance of government products and programs currently available, as well as the often difficult task of securing a mortgage, ”he said.

“Many of our brokers are currently working around the clock to help clients with their loan applications in the New Year and we are increasing the number of brokers and stores to meet the request for assistance. “

[ad_2]

About Darnell Yu

Check Also

From fire to prison – Workshop on investigative reporting

[ad_1] This story is co-edited in partnership with the Fort Worth Star-Telegram. The former president …

Leave a Reply

Your email address will not be published.