Articles

Sydney price correction ‘close to an end’

Hannah Dowling| Mortgage Business| 6 August 2019 https://www.mortgagebusiness.com.au/breaking-news/13673-sydney-price-correction-close-to-an-end The NSW capital’s auction clearance rate hit its highest point in over two years last month, suggesting a market rebound, a new Domain report showed. According to Domain’s Sydney auction report card: July 2019, the clearance rate for Sydney auctions hit 69 per cent in July, the […]

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Mortgage approval values bounce back

Hannah Dowling| Mortgage Business| 8 August 2019 https://www.mortgagebusiness.com.au/breaking-news/13686-mortgage-approval-values-bounced-back-in-june ABS data from June has reported an overall increase in lending values, driven by owner-occupiers and first home buyers. According to the latest Lending to Households and Businesses data from the Australian Bureau of Statistics (ABS), the total value of home loan approvals increased, in seasonally adjusted […]

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‘It’s just too hard’: ANZ CEO laments credit scrutiny

Charbel Kadib| Mortgage Business| 14 August 2019 https://www.mortgagebusiness.com.au/breaking-news/13706-it-s-just-too-hard-anz-ceo-laments-credit-scrutiny ANZ will maintain a conservative approach to mortgage lending until the industry receives further clarity from regulators, CEO Shayne Elliott has said. Speaking at Aussie Home Loans’ 2019 Imagine conference in Sydney, ANZ CEO Shayne Elliott lamented the current state of affairs in the home lending space. […]

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ASIC loses landmark case against Westpac

Tim Boyd| Australian Financial Review| 13 August 2019 https://www.afr.com/companies/financial-services/asic-loses-landmark-case-against-westpac-20190813-p52ggy In a landmark case for responsible lending, the Federal Court has dismissed allegations against Westpac, brought by the corporate regulator, that it breached responsible lending laws more than a quarter of a million times. Justice Nye Perram told a Sydney court room on Tuesday morning that […]

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Developers offer advisers $90,000 to flog high-rise apartments

Duncan Hughes| Australian Financial Review| 14 August 2019 https://www.afr.com/companies/financial-services/developers-offer-advisers-90-000-to-flog-high-rise-apartments-20190813-p52gk1 Commission payments of between $30,000 and $90,000 – plus extra incentives for multiple sales – are being offered by developers to buyers’ and real estate agents, financial advisers and accountants to sell houses and apartments. Lucrative financial incentives are increasing in the lead-up to the spring […]

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Household financial comfort dragged down by residential property price falls and weakening labour market: report

The Real Estate Conversation| 12 August 2019 https://www.therealestateconversation.com.au/news/2019/08/12/household-financial-comfort-dragged-down-residential-property-price-falls-and Financial comfort in Australian households has dipped following residential property price falls and a weakening of the labour market, new research from ME Bank has revealed. The institution’s Household Financial Comfort Report has indicated people have been feeling worse about their net wealth, jobs, income and living expenses in the […]

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