LJ Hooker Financial Services has seen a 26 per cent rise in loan settlement figures on this time last year on the back of a buoyant real estate market.
A shortage of housing stock and low interest rates are helping to drive the property market which has translated into a surge of business for LJ Hooker.
The company’s business analyst David Maher told Mortgage Business that the flood in business was unlikely to ease any time soon.
“Even when the first home owners grant is pulled from the market, we expect to see sales and prices continue to enjoy moderate growth,” Mr Maher said.
According to Mr Maher, LJ Hooker Financial Services has also recorded a jump in loan volumes in the three months to August, with an increase of eight per cent compared to the same period last year.
“There is a distinct correlation between loan settlements and property sales,” he said.
“Property sales are currently 25 per cent higher than this time last year, and we expect this trend to keep improving.”
In a bid to drum up further sales, LJ Hooker Financial Services has teamed up with Suncorp Bank to provide home buyers with a no upfront establishment fees offer.
According to Mr Maher, LJ Hooker’s no upfront establishment fees incentive coupled with competitive home loans makes now a great time for buyers to get into the property market.
“Investors are starting to view the property market as an attractive option and everyday mums and dads are also filtering in once again on the back of the ‘emergency level’ interest rates,” he said.
“We currently have very low vacancy rates which in turn stimulates higher rents and higher yields. High yields are excellent for investors who are starting to see the residential property market as a safe bet.”
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