Economy

The complaints authority has recruited three new ombudsmen (including from ANZ and Westpac), and promoted three others internally.

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The big four banks have responded to the expanded COVID support in NSW for businesses and workers impacted by extended lockdowns.

Property prices are expected to surge higher by end-2023 than they would have without the COVID-19 crisis, according to KPMG.

Owner-occupied lending grew by over $10 billion in May, but investor lending growth slumped after recently gaining pace, according to new APRA data.

The government has shuffled in some new directors across the boards of its National Housing Finance Investment Corporation and the Australian Housing and Urban Research Institute.

When money has no value, there’s a prevalence of ‘gift lenders,’ and the property market ‘pretends’ to rise, says Semper director Andrew Way.

Australia has the second-highest mortgage debt as a proportion of GDP among OECD nations, according to a new report.

A report has called for a royal commission and the Reserve Bank to address soaring house prices, warning that the Australian property market is threatening the nation’s economic future.

Credit agency S&P Global has upgraded Australia’s outlook from negative to stable, citing the government’s “swift and decisive fiscal and health response” despite sizeable deficits ...