The Commonwealth Bank will keep a close eye on the strength in the housing market, and will change its lending practices if needed.
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Big four lender Westpac has announced another eye-watering financial blow, with the bank set to take a $1.3bn hit in its upcoming financial results.
Would-be first-time homebuyers are set to face tougher hurdles to enter the market after a decision by the banking regulator to tighten lending standards.
The Commonwealth Bank of Australia’s chief executive says he is increasingly concerned with rising house prices and household debt levels.
Australia’s property market has been booming, and while there has been some slowdown in the pace of growth, a drop in prices is not likely, this expert said.
Research endorsing past limits on investor and interest-only loans will give regulators new evidence to consider.
An NAB survey showed only 40 per cent of respondents believed now was the time to purchase real estate.
Australia’s largest bank is predicting the RBA will eventually ditch its long-held view that a cash rate rise won’t happen until 2024 and hike sooner.
Australia’s economy is in a “triple crisis”, prompting calls for a royal commission into the future of housing.
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South East Queensland’s unprecedented sales swell continues to attract interstate developers and underpin major projects, with ID_LAND, Little Projects, Sammut Group, Azzura Corporation and Pikos Property making big progress on more than $800 million worth of new developments in recent weeks.
Property price records are tumbling across Victoria, with more than 170 suburbs in Melbourne laying claim to a median house price of $1 million or more, while several key regional locations have also breached the seven-figure barrier.
New lending restrictions will affect different parts of the property market more than others - dig into the details and find out what the changes mean for first homebuyers, investors and trade-up buyers.
Australians downsizing to luxury apartments are driving a rapid rise in prestige property values, with sales of apartments worth $10 million or more in the first half of the year running at nearly eight times more than the 10-year average.
Pent up demand from Sydney buyers emerging from lockdown and Melbourne purchasers likely to soon follow is expected to result in a resumption of the big price gains recorded in the first half of 2021, with both cities remaining in a state of housing undersupply.
Victoria’s state government has made a range of changes to its Windfall Gains Tax prior to it being introduced to Parliament, but industry groups say the move is the “wrong tax at the wrong time” that will have a big negative impact on housing affordability.
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