Aussie expands footprint in SA

The opening of the new office and store has followed the creation of 31 new full-time mortgage broking positions, and the recruitment of another eight staff in administration and sales roles in South Australia this financial year, according to Aussie.

Overall, the brokerage and its franchisees have spent over $1.3 million in store builds in the past six months, through engaging local South Australian shop-fitting businesses, Aussie added.

During the COVID-19 pandemic, Aussie said that it opened stores in Firle and Marion in South Australia, while a new store in Blackwood is currently under construction and store re-fits are being carried out in Aussie Gawler and Mount Barker.

According to Aussie, its growth in South Australia is aimed at meeting the growing needs of customers within the region, especially the “mortgage belt regions”, which it said are expanding with additional expressways and other infrastructure investments.

A recent report commissioned by the major brokerage in partnership with Aussie showed that residents in Adelaide and the rest of South Australia are typically paying less for their mortgage repayments than they would in rent per month.

The report found that the typical cost of servicing a discounted variable rate mortgage on a house in Adelaide has reduced from $2,616 per month two years ago to $2,005, while the cost of servicing a discounted variable rate mortgage on a unit has reduced by $132 per month over the past two years.

Commenting on the expansion in South Australia, Aussie CEO James Symond said: “We are seeing many areas of Adelaide experiencing a surge in property appeal, especially from first home buyers, many of whom are taking advantage of the federal and state government incentives to purchase homes and apartments in the region.

“Our new Adelaide stores are opening at the right time, providing local home owners and buyers with expert home loan guidance, trusted service and competitive home loan deals to choose from.”

Mr Symond added that Aussie South Australian mortgage brokers have assisted over 4,000 borrowers – including 500 first home buyers – in the state with their home loans over the past year.

He added that Aussie has planned to continue growing in the South Australian market, and added that brokers who complete the training and development program will qualify for a Certificate IV in Mortgage Broking, and could qualify for a full Diploma in Mortgage Broking over a 12-month period.

Mr Symond concluded: “Aussie is actively investing in the South Australian market, and we are keen to hire more staff, brokers and franchisees under our strong recruitment focus.”

The residential property price indexes from the Australian Bureau of Statistics recently showed that property prices rose by 2.6 per cent in Adelaide in the December 2020 quarter, while annually, prices increased by 3.8 per cent in the South Australian capital city.

Moody’s data analysis showed that new buyers in Adelaide required 20.1 per cent of their household income to meet loan repayments in February 2021.

[Related: Aussie reports record lending in March]