Aussie banks on Adelaide

by AB24 Oct 2013

Aussie Home Loans says it expects the Adelaide property market to continue its recovery and that, as a result, it’s opening five new retail outlets this week across the city.

Founder and executive chairman, John Symond, who will officially open the stores at Christies Beach, Gepps Cross, Prospect, Unley and Glenelg this week, says the Adelaide property market is in good shape for a steady recovery.

The latest RP Data-Rismark survey for September shows Adelaide property values rose 1.1% in September to a median value of $390,000, compared with negative performances by Brisbane, Perth, Hobart, Darwin and Canberra for the same period.

“There is no doubt that green shoots are appearing in Adelaide quicker than other cities outside of Sydney and Melbourne and that augurs well for the future. The latest figures from the Australian Bureau of Statistics show that first home buyers made up only 13% of all loans provided across Australia in August,” says Symond.

“This is not good for the economy or families and it would be great for more land across the state be opened up for development of new, affordable  homes for first home buyers.”

The new stores offer a home finance advisory service, as well as a selection of home loans, credit card, insurance and personal loans.

“We are confident about the future of the state and that is why we have committed to these openings in Adelaide by specially trained Aussie franchisees and mortgage brokers,” says Symond.