Broker business booms despite rate settings

by BN09 Nov 2012

Aussie founder John Symond has released results which depict a stellar October performance and rising confidence.

Last week, Symond became vocal on the RBA cash rate with claims that small retailers and businesses were doing it tough in the lead up to the crucial Christmas retail season.

Symond said a rate cut would boost retail sales, employment and provide "much-needed confidence to consumers".

However, Aussie has now come forward with stellar October figures, with both lodgements and settlements up 27% for the month year-on year, indicating interest and enquiries from home buyers and refinancers.

“We have not seen enormous sales results like this since March 2009 when we acquired Wizard," Symond said.

"These results are exceptional, considering the soft market conditions and given they don’t include any acquisitions or other anomalies."

Symond said this week that "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".

Although Aussie does not release its settlement figures, the group said its first quarter saw an overall settlement increase of 19% over the same quarter last year.

Aussie's October figures mirror the mortgage processing results delivered by Australian Finance Group, which had its best month since March 2009 in October.


  • by Michael 9/11/2012 8:46:24 AM

    27% up compared to last year? If that's accurate then they are incredible growth numbers in this market. Good work to the brokers over there.

  • by Kristen Watters 13/11/2012 3:56:39 PM

    This is good news! I just hope this will continue to grow. Kepp it up!