This article is from the Australian Property Journal archive
HOMETRACK, a UK provider of Automated Valuations, is looking to wrestle its way into the Australian market.
AVM’s, computer based systems which provide an instant valuation on residential properties, have been instrumental in changing the face of the UK mortgage industry over the last five years. Hometrack’s AVM, which delivers automated valuations and risk analytics to over 90% of UK mortgage lenders, has for the last six months been rigorously and successfully testing its application to the Australian residential property market.
Hometrack’s new market strategies director Graeme Winser, who is now based in Australia to oversee the startup of operations, said in a risk-averse industry, Hometrack’s advanced methodology and constant technological innovation set it apart from its competitors.
“It will enable quicker, cheaper and more efficient services as the Australian mortgage and property services sector continues to evolve. And, particularly with the current market volatility, we believe lenders and insurers will embrace AVM’s as a powerful risk management and portfolio valuation tool,” he added.
The company has appointed Brendan Darcy as CEO of Hometrack Australia and Paul Brock as sales director.
Darcy was head of mortgage credit and retention at Citibank Australia and Brock was previously general manager at smartVAL, a leader in IT provision for the finance industry.
Australian Property Journal
