View more on these topics

Hometrack buys into Australian AVM market

Housing intelligence business Hometrack has bought a 50 per cent stake in Australian residential statistical research company Residex.

The venture marks Hometrack’s latest move into the international automated valuation model market. The firm last year signed an alliance with ABF Valuation in the Netherlands.

Hometrack chairman Giles Mackay says: “This joint venture brings together Hometrack’s knowledge and expertise in the AVM market with Residex’s considerable data and technology resources. The aim is to create the market leading Australian AVM.”

Residex chief executive John Edwards says: “There is no doubt about it the collective technologies of Hometrack and Residex will create a formidable partnership.”

Hometrack supplies 90 per cent of the UK’s mortgage industry with residential property valuations. Residex was responsible for developing Australia’s first AVM.

The new valuation company, Hometrack Australia, will be based in London and Sydney.

Recommended

Abbey £25k loan deal with 100% mortgage

Abbey is piloting a 100 per cent loan to value product, with the option of a £25,000 secured loan.However, brokers say the rate is not the most competitive in the market and Abbey’s two-year fixed-rate product only just beats Northern Rock’s Together product.London & Country mortgage specialist James Cotton says: “At 7.05 per cent for […]

Origo draws up mortgage standard schedule

Origo has set out a timeline for mortgage standards to be in place by the second quarter of next year.It says its mortgage governance group is committed to delivering standards for full mortgage application, mortgage tracking and product data by next summer.The standards will complete coverage for the mortgage sales process for mover, remortgage and […]

India: too big to ignore?

By Kunal Desai, head of Indian Equities, Neptune  India is officially the world’s fastest-growing major economy and remains firmly on track to become the third-largest economy by 2030, overtaking Japan and Germany. As an accelerating labour force combines with increasing labour productivity, is India getting too big to ignore? Click here for full article   […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment