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One of Australia’s biggest aggregators has set a new settlement record.
Yesterday, Connective announced its broker membership had recorded its best ever settlement months, settling $1.73 billion and $1.71 billion in May and June respectively.
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Connective principal Glenn Lees said the aggregator is primed to build momentum further, predicting more milestones will topple over the coming months.
“While we await final settlement figures for July, we are optimistic about our prospects of eclipsing past records given that lodgements for July were also a record figure,” he said.
“We are witnessing growth across all markets. Our more established eastern seaboard markets continue to perform and we’re gaining traction in strategic locations of focus, such as Western Australia, where we’ve experienced 67 per cent year-on-year growth over the past 12 months.
“The settlement growth reflects not only the increasing number of brokerages choosing Connective as their aggregator, but also increasing productivity of our existing membership.
“We devote considerable resources to assisting our members to operate more efficient and profitable businesses, and these latest figures demonstrate that our strategies are working.
“Based on analysis of past trends, we expect to reach our next major milestone of $2 billion in settlements by the end of the calendar year.”
Connective now has 1,850 member brokers and a loan book in excess of $44 billion.
