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Finance
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
It looks like tighter restrictions on Australian property investors may be on the way with the head of Australia’s banking regulator, APRA, telling markets to “watch this space”. Speaking at a regulatory conference in Sydney on Monday, Wayne Byres, chairman of APRA, said that a combination of high and rapidly rising property prices in major cities, record household debt, slow wages growth and strong competitive pressures among lenders was creating an “environment of heightened risk”, according to Bloomberg. “That’s a […]
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 […]