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Bulleen
20/03/2017
Australia’s banking regulator says the country’s housing market is in an environment of “heightened risk”, but he won’t say there’s a housing bubble. Australian Prudential Regulatory Authority chairman Wayne Byres told a Sydney conference that he wouldn’t use “the B-word” to describe the housing market. “I don’t use the B-word. I refuse to use the B-word. It implies a binary, that’s too simplistic,” Mr Byres said speaking at the Australian Securities and Investments Commission annual forum. “We are in an […]
08/03/2017
The majority of countries in the world have a central bank whose role is to maintain economic stability by managing the currency and interest rates, and issuing bank notes. In Australia, this institution is known as the Reserve Bank of Australia, also referred to as the RBA or the Reserve Bank. On the first Tuesday of every month, except for January, the RBA board meets to determine whether it should change the official cash rate. The result usually makes headlines […]
07/03/2017
Following in the footsteps of policymakers in Vancouver, the Victorian government announced yesterday that it will introduce a 1% “Vacant Residential Property Tax” from January 1 next year, designed to raise revenue from investors who choose not to occupy or rent out a vacant dwelling. It will be based on the improved value of a taxable property, and will target homes around the inner and middle suburbs of Melbourne. For an investor with a vacant property worth $500,000, the tax […]
07/03/2017
House hunters who do not have a seven-figure budget have already been priced out of five Melbourne suburbs. And as house prices continue to climb, more home owners will come to grips with the idea that $1 million will not stretch far in this city. Big-ticketed suburbs such as Toorak and Hawthorn may have the most expensive houses, but it is the city’s smallest pockets with the highest entry prices. Last year, not a single a townhouse or house changed […]
06/03/2017
Philip Lowe has some high-powered backing if he leaves interest rates on hold Tuesday as widely expected. Days after the Reserve Bank of Australia governor signalled that rate cuts weren’t in the national interest amid record household debt, the securities regulator said it was looking at mortgage lending standards across the banking sector. The Organisation for Economic Co-operation & Development last week highlighted risks posed by Australian property and private debt. Sydney house prices have soared 73 per cent in […]