SMSF sector driving Nyko sales growth
Demand from the SMSF sector is playing a “key role” in the sales growth of property research advisory firm Nyko Property.
Nyko Property has recorded a 90 per cent increase in sales in the 2014 financial year, said director Bill Nikolouzakis.
“In particular, we had a very busy second half of the year following the 46 per cent increase in sales in the 2013 financial year, with demand from the SMSF sector playing a key role,” he said.
Although SMSF investment dropped slightly in the 2014 financial year to 28 per cent, compared with 36 per cent the previous year, all the indications are that SMSFs will remain a significant influence in this market, said Mr Nikolouzakis.
“This is not surprising. SMSF property investment is being driven by clients of accountancy and financial advisory firms and will continue to be a strong growth area for Nyko Property, despite the slight eight per cent drop in sales.
“While we might not see such a high increase in SMSF property investment as we did in 2013, we expect it to continue to be about 30 per cent of our business.
“Remember that we saw a 17.2 per cent increase in SMSF investment into residential property across the market in the 12 months to March 2014.”