The recovery in Australia’s property market appears to be alive and well after new ABS data indicated home lending in August returned to its 2017 highs – when the Sydney and Melbourne markets were near their price peaks. That’s off the back of three months of strong growth, buoyed by […]
Home loans have experienced their biggest monthly gain in almost four years, as buyers take on more debt to jump into the property market. It comes after prices in Australian capital cities bounced last month with auction clearance rates running hot in the country’s largest two markets, Melbourne and Sydney. […]
Victoria has emerged as the strongest state economically, according to the latest breakdown by CommSec. The analysis showed the state was the best place in Australia to find a job, backed by solid population growth and a building spree. New South Wales wasn’t too far behind, with what was the […]
Further pressure on the big four banks to raise rates. Macquarie has increased rates on its Basic Home Loan to 4.05% from 3.99%. The banks have been tightening lending. Macquarie increased its home loan rates by 6 basis points, joining other banks as the cost of funds increases and the […]
The Reserve Bank of New Zealand (RBNZ) has announced plans to roll back home lending restrictions in its semi-annual Financial Stability Report released this morning. The changes will ease the minimum requirements around loan-to-value (LVR) ratios for both owner-occupier and investor loans. Here are the revisions outlined by the RBNZ, […]
Westpac’s quarterly report has revealed a major shift underway among Australian borrowers. Yesterday the bank said it was “on track” to slash its new interest-only loans to below APRA’s regulatory cap of 30% by the September deadline, saying 36% of its new lending was interest-only, a dramatic fall from 47% […]
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