Predictions for 2023 - from the eyes of a Boutique Aggregator

Frank Paratore: Director - Purple Circle Financial Services

Here’s my view on 2023 and predictions:

● Broker market share to continue to grow: Broker market share to continue upward trajectory and hit 75%

● Investor market opportunity to increase : Investor market is certainly an opportunity for brokers and borrowers as there is a lack of property stock in the market …. Basic supply and demand, meaning high demand and low supply will drive up the dollar value of rent. Refinance market opportunity to increase: Refinance market is certainly another area of opportunity for brokers as borrowers increasingly come out of historically low fixed rate periods.

● Continued emergence of ‘Boutique Aggregators: Market is ripe for continued emergence and rapid growth of ‘Boutique Aggregators’ due to the significantly higher ‘value and service proposition’ provided. For Solo brokers – Wellbeing focus: Solo brokers to join forces with others to share costs, reduce stress levels, leverage best practices and improve operational efficiencies/infrastructure whilst focussing on their own wellbeing and fostering a greater sense of belonging.

● Inflation: Inflation to be bought back in line to a reasonable level of between 3.5%4.0% as a result of increased interest rates and curbed spending. Acceptable level of between 2.0% - 3.0% to be achieved in 2024. Interest Rates: RBA official cash rate to peak at 3.85%

● Software/CRM’s: Further enhancements and integrations to enable greater simplicity. Tech will continue to be key!