“Canberra is now seeing strong annual growth in property values at 12.9% over the 12 months to July, only behind Melbourne (15.9%)” begins Aussie’s CEO James Symond.
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“It has also experienced the highest annual change in weekly rents at 8.9%” he continues.
“Canberra home values have increased by 4.9% over the three months to July 2017” which shows the market is definitely moving fast.
“Over the past 12 months, house values have increased by 13.2% and unit values are 10% higher.”
This has also seen substantial growth in the mortgage broking sector.
“Mortgage brokers now write more than 50 per cent of home loans in Australia and I expect this growth to continue” James observed.
Relevant to us at a local level, “Aussie’s growth in Canberra has accelerated dramatically, and we now have six retail stores and 23 mobile brokers in the ACT.”
The reason for this expansion is simple. “We were experiencing huge demand for local, expert mortgage advice so we’ve responded to that demand” James stated.
James began his carrer with Aussie when it first emerged to challenge the banks 25 years ago.
He did his time as a commission-only broker for about five years. Then, as Aussie went from being a non-bank lender to a mortgage broker in 1997, James became part of the executive team.
He led the group’s distribution strategy through that period and was instrumental in Aussie’s expansion to even more financial services.
James is also a past president of the Mortgage and Finance Association of Australia (MFAA) and was awarded a prestigious MFAA Fellowship in 2010.
In March 2015 James Symond was announced as the new CEO of Aussie.
“Aussie and our franchisees are investing heavily in Canberra. We want to offer a personalised service, we want to get in front of the customer, sit side by side with them to help them with their home loans.”
He also reiterated the point made last week about the increased need to shop around for the best rate.
“With increased regulation and changes to lending for investors and interest-only loans, as well as increased competition among banks and lenders, the home loan market has never been so complex nor has there ever been so much choice in products and services” he explained.
“For these reasons the role of the mortgage broker has never been so relevant for consumers as they seek expert help to navigate this increasingly complex market” James concluded.
Aussie mortgage brokers can come to you or you can go to them. Just visit www.aussie.com.au.
