Mortgage broker AGF has announced it recorded $5.2bn in mortgages in March, covering 11,235 home loans. It was the Perth-based company's biggest month in its 21-year history.
The record was a massive 29% jump on the same month last year, thanks to the increasing property investment activity in Sydney and Melbourne.
The company’s sales were strongest in New South Wales with a 47% jump on March 2014 – or a total of $1.9bn. Victoria, on the other hand, had 30%, or $1.2bn.
South Australia, Queensland, and Western Australia saw 23%, 16% and 11% increases in sales, respectively.
"Volumes in other cities were strong but unspectacular," AFG sales and operations manager Mark Hewitt said. "The combination of rate expectations, with a traditionally buoyant month for property sales, made March a stand-out month."
AFG holds some 10% of Australia’s mortgage market.
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