An award-winning broker has discussed the flourishing Cairns mortgage market and what winning Regional Office of the Year has meant for his brokerage.
Lindon Reed of Mortgage Choice Manunda, Cairns says the mortgage market in the area is currently “on the rise”.
“At the moment, it’s pretty buoyant,” Mr Reed told The Adviser, adding, “With the ‘financial clock’, 12 o’clock [represents] the top of the market, six o'clock is the bottom of the market, and at the moment Cairns is running at around about eight or nine o'clock, heading back up towards the 12.”
“Sydney, I would assume, would be running around the 12, if not one o’clock, whereby it’s at its peak and dropping off, whereas Cairns is at eight or nine, coming up towards the 12,” he said.
Mortgage Choice Manunda, which was named Best Regional Office for Queensland at The Adviser’s Better Business Awards this year, has gone from strength to strength.
“We’ve got two offices, we’ve got mobile specialists out in the tablelands up in Atherton and Kuranda, we do local sponsorships, we’re the major sponsor of the far north Queensland emergency services gala ball that’s coming up in July,” he said.
“We run a charity corporate golf day, and [we do] just normal marketing type stuff like radio advertising.”
Mr Reed said the brokerage is looking into consolidation, having recently opened a second office. It also intends to maintain the financial planning arm of the business.
“We’re into our fifth year of a five-year plan so it’s probably time to sit back and review that, and find out where we’re going to go in the next five years,” he said.
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