Despite a soft housing market in the throes of resuscitation, Aussie has reported exceptional business growth with home loan lodgements and settlements, plus customer lead generation for October, all tracking well over 20 per cent on the previous year. These results are a reflection of the very successful “it’s smart to ask” marketing campaign as well as more customer care initiatives and increased productivity by Aussie’s 750 brokers.
In October, lodgements were up 27 per cent and settlements up 27 per cent on October 2011, indicating that there is strong business growth through interest and enquiries from home buyers and refinancers.
“We have not seen enormous sales results like this since March 2009, when we acquired Wizard, so these results are exceptional, considering the soft market conditions and given they don’t include any acquisitions or other anomalies,” says John Symond, Chairman and founder of Aussie.
“Our first quarter has also been pleasing with profit above budget as our sales team continues to deliver record settlements, supported by strong results from our Aussie home loan and non-mortgage product range.”
All states recorded strong settlement growth vs prior year, with stellar performances from WA and Queensland recording massive 53 per cent and 42 per cent increases respectively.
Aussie’s lead generation marketing program delivered the highest number of leads since 2006, up 35 per cent on last year, demonstrating continued customer support for the Aussie brand and mortgage broking overall.
“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,” continues Symond.
The October results build on a successful first quarter for Aussie which has recorded an overall settlement increase of 19 per cent over last year. On the back of the ongoing success, Aussie continues to seek and recruit quality brokers for its business.
Aussie was founded in 1992 by John Symond AM, who was widely credited with bringing competition to the Australian home lending industry. The company was unique in its approach to home loans, offering 24 hours a day service and loans far cheaper than those offered by banks. In 1994 Aussie introduced the securitisation of home loans, allowing it to offer loans upwards of 3% cheaper than its competitors. Over the last five years, Aussie has been voted as Australia’s Best Mortgage Broker in the Australian Banking & Finance Magazine Awards. The company rapidly grew as consumers became aware of its products and the competition heated up as Aussie grew its market share. In 2008 CBA acquired a 33% share of Aussie. As at end September 2012, Aussie had a loans portfolio of almost $44.9 billion. In 2012 Aussie acquired Mortgage aggregator nMB, which brought its total portfolio value to $53bn.
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