Lending volumes also increased 1.8% on the pcp and were up 7.8% on the six months to June 30, 2012
Holmes says despite market-defining challenges in recent years, the aggregator has demonstrated a ‘solid’ performance across a number of key metrics.
“These results are on track for the first half of the financial year and we are cautiously optimistic about the opportunities in the second half, as we’re starting to see recovery in some of our markets. It is particularly pleasing that we have been able to continue growing our volumes, particularly at a time when housing credit growth rates have remained at record lows and the competition for mortgage lending has further intensified.”
Whilst Homeloans expects the challenges presented by current market conditions to continue into the second half of the financial year, the company is confident that its strategy to focus on the competitiveness of its lending products and service will help drive settlement volumes in the second half.
Homeloans CEO, Scott McWilliam, says there are signs that momentum is building in 2013.
“Recent property data shows home values around Australia are increasing and this, combined with factors including lower than average interest rates, low inflation, and low residential rental vacancies is good news for both upgraders and investors, which could translate into increased market participation. Compared with previous years, it seems the market is on a firmer footing, which bodes well for the second half of the financial year.”