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Economy
23/03/2017
The wallet-burning cost of living in Australia’s largest cities has been highlighted again, with Sydney and Melbourne ranked among the most expensive in the world. Both cities jumped six places in the Economist Intelligence Unit’s latest worldwide cost of living survey, which gauges the relative costs of living across 133 cities. Sydney’s jump to 14th position and Melbourne’s rise to 15th was expected given the appreciation in the Australian dollar in the last year or so, the survey’s editor Job […]
22/03/2017
COMMBANK and ANZ customers should brace for interest rate hikes of more than 20 basis points for investor loans and up to 10 basis points for owner-occupiers. NAB and Westpac began raising interest rates out-of-cycle with the Reserve Bank last week, and experts say the remaining two of the big four banks are likely to follow suit shortly. Despite the official cash rate remaining on hold at its historic low of 1.5 per cent, the banks have begun hiking rates […]
22/03/2017
Speculation about a housing bubble is likely to heat up even further, with Sydney and Melbourne property prices up 5.2 per cent and 5.3 per cent respectively over the three months to December, official data released on Tuesday shows. Brisbane real estate prices rose 2.2 per cent, and in Perth they were up 0.3 per cent, according to Australian Bureau of Statistics data recorded for the last quarter of 2016. Across all the capital cities, growth was up 4.1 per […]
21/03/2017
IF you’re looking for a home in Sydney or Melbourne, chances are you’re feeling frustrated, overwhelmed and irate, priced out of the market you were born to buy into. Most are quick to blame the deep pockets of foreign investors, with high demand seeing properties sell for hundreds of thousands of dollars over reserve. Recent figures show one in 10 properties in NSW are being snapped up by foreigners, and with interests rates so low, this trend shows no signs […]
21/03/2017
AUSTRALIAN banks are outperforming their peers in North America and Europe as the transition to digital services rolls out but a new report has found there is still more work to do. The top 10 banks, including Commonwealth Bank, ANZ, National Australia Bank, Westpac and one mutual bank, are offering retail customers a wider range of account products online compared to their international counterparts, according to a new report by software developer for the banking industry Avoka. Avoka’s second annual […]