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Economy

Auction volumes remain subdued

Auction volumes continue to be on the lower side across capital cities, reflecting the effects of the ban on public auctions.

Auctions volumes remain subdued
1 in 3 Australians negatively affected by COVID-19

Almost half of Australians aged over 18 have reported that the COVID-19 pandemic has affected their household finances, with 31 per cent reporting a negative impact.

1 in 3 Australians negatively affected by COVID-19
How JobKeeper affects business: the ATO and ASBFEO explain

The Australian Taxation Office, ASBFEO and Reckon are joining our sister title, My Business, in a free, live and interactive event to discuss how the JobKeeper scheme affects businesses

How JobKeeper affects business: the ATO and ASBFEO explain
Construction costs rise, rental market strained

The cost of construction has continued to rise in 2020, while the residential rental market struggles amid COVID-19-induced market changes, according to CoreLogic.

Housing construction
Banks to withstand sixfold increase in credit losses: S&P

Australia’s banking sector is set to shed almost $30 billion from credit losses induced by the COVID-19 crisis, according to S&P.

S&P Global Ratings
Big 4 cashed in on mortgage rate ‘lag period’: ACCC

The major banks clawed in millions from a delay between mortgage rate cut announcements and effective dates, the ACCC has confirmed.

Big 4 cashed in on mortgage rate
Housing market to ‘withstand’ crisis: PIPA

The housing market is not expected to see a drop of more than 10 per cent and is “well placed” to see a strong rebound following the COVID-19 crisis, according to PIPA.

Housing market
ACCC provides CDR exemptions

The competition watchdog has announced temporary exemptions under Consumer Data Right due to the impact of COVID-19.

data sharing
Loan relief to disguise ‘true’ credit impact of COVID-19: S&P

Mortgage relief assistance provided to borrowers in the wake of the COVID-19 pandemic would hide the “true effects” of the crisis on credit quality, according to S&P.

S&P Global
Big banks commit to cut turnaround times

The major banks have launched support hotlines to streamline hardship relief applications from borrowers impacted by the COVID-19 crisis.

Loan application
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