Australian mortgage brokers are expecting house prices to rise

Arun Maharaj, Chief Executive Officer, Hashching

A new survey of mortgage brokers by Hashching has revealed that 58% of respondents agree with NAB’s prediction that house prices will exceed 20% growth by the end of the year.

Despite this high growth in prices, the First Home Buyer group seems unwilling to compromise on the Australian dream – with mortgage brokers overwhelmingly reporting that the FHBs they see are more interested in buying freestanding houses (67.44%) than apartments (16.28%).  

When questioned on their use of technology through events such as the enduring lockdowns in VIC and NSW, most brokers are now making good use of technology, with 67.44% of brokers making time for more appointments through video conferencing. 

Hashching’s comments on the mortgage brokers’ survey

“This month, we also checked in on how brokers are feeling about the profession’s future as a whole just under half were not concerned at all (46.51%), with the remaining 48% concerned about the impact of direct competition from banks and changing consumer behaviour.”

“A dead-even split, even during one of the toughest environments to operate in living memory, shows just how powerful a drive technology has been in keeping the profession moving.”

“Brokers simply have more time for appointments now, or at the very least are keeping even with previous years. Brokers have cause for optimism,” Hashching CEO Arun Maharaj said. 

“They are becoming more efficient, and the demand for housing just isn’t going away. Banks are predicting growth and they’re seeing this demand daily through freestanding houses.”

“Silence from APRA on lending restrictions and a low cash rate from the RBA promises for the future be the best brokers will have this year especially if lockdown restrictions are eased.”