Mortgage broker industry 'will continue to grow'

The mortgage broker industry will continue to grow in the coming years and is expected to be worth $1.9 billion by 2017-18.

According to research organisation IBISWorld, the home loan market has struggled recently, but there are clear signs that a recovery is not too far away.

There has been a 4.4 per cent rise in mortgage broker activity in the past 12 months – the firm stated – and the sector will "break free from the shackles of the global financial crisis" in the next five years.

"Supply of finance is expected to rise as credit loosens and more lenders enter the market," IBISWorld industry analyst Tim Stephen remarked.

He added that Aussie house hunters are increasingly looking for expert advice in order to find the best home loan deals.

There is certainly a lot of choice for property buyers at the moment, with a recent study by Roy Morgan Research highlighting the fact that people are very happy with the mortgage services provided by smaller lenders in particular.

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