If you’re wondering whether to dip your hand into the pool that is mortgage broking, you should plunge yourself right in.
The demand for housing in the country has never been higher, especially in property hotspots like Sydney, Melbourne and Brisbane.
When there is housing to be bought, there’s going to be people needing mortgages. To find the best loans for their needs, house hunters will seek out mortgage brokers.
The mortgage broker business looks bright
The future of this occupation looks to be even more secure in the years to come.
According to the Australian Bureau of Statistics, the construction of new dwellings has peaked considerably. In the 12 months to June, 211,976 new homes commenced the building stage across Australia.
Is this a big figure?
It sure is, when you consider that this figure marks a 16.9 per cent increase over the previous year and is a record number for Australia. Chief economist Dr Harley Dale from the Housing Industry Association notes that this result tops three straight years of new-home-building growth.
He also says that it’s “only the fifth time in the last 60 years that this feat has been achieved.”
Nick Proud, Executive Director Residential of the Property Council of Australia, had observations to make as well, remarking that “the strong numbers of new homes coming through to completion are going to provide additional homes to improve affordability, which has been needed in regions such as Sydney for some time”.
This much needed boost to supply will give house hunters who have been holding back a reason to delve into the market with fresh expectations.
Whether it’s buyers seeking a new home or looking for investment opportunities, the services of a mortgage broker will be in demand in the years to come.