December 2016 – So, how was 2016?


After the slow start to 2016, when we limited lending so as to review and develop strategies for the perceived apartment oversupply concern, GPS has enjoyed a strong year.

It is one of the most relaxed run ins to the holiday season GPS has had, with 2017 shaping up to be another sound year for us.

The strategies we put in place early in 2016 have resulted in us continuing to have a fully performing mortgage book with little exposure to potentially oversupplied areas, or settlement risk to non-Australian resident purchasers.

Where there is some potential oversupply, our lending conditions have been strengthened by reducing LVR’s and increasing presales to Australian resident purchasers.

My biggest stress is the level of applications for finance, which are currently running at about two per day. This has necessitated a further developing of my skill to graciously say no.

I have not seen any signs that the banks will be re-entering our market any time soon.

GPS has no plans for substantial growth to fill the void left by the exit of the banks. We will continue with our “organic growth”. Our priority for 2017 will be to continue to grow the quality of our loan book and our service levels to both investors and borrowers, while reducing overall loan to value ratios and increasing overall presale levels.

GPS could not have achieved all we did in 2016 without the ongoing support of our long serving and loyal investor base. The whole team at GPS truly appreciates your support and works very hard to maintain your confidence in us.

Thank you for your ongoing support. Have a Merry Christmas and a Happy New Year.

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