Economy

A sharp increase in new home sales has been attributed to a bump in sentiment from the federal government’s HomeBuilder scheme.

The New Zealand-based financial services group has announced that it has secured new funding for the growth of its Australian reverse mortgage business.

The central bank has noted that business lending has been “subdued” due to uncertainty and weak economic conditions and a “tightening” in the supply of credit.

COVID-induced housing market weakness across Australia’s capital cities triggered a $98-billion slide in the total value of residential dwellings, new ABS data has revealed.

A big four bank has said that it has been fighting millions of “ferocious” cyber threats and seen a 78 per cent increase in fraud attempts over recent months.

The customer-owned bank has reported that around 95 per cent of home loan customers whose payment pause has expired have returned to full payments.

Auctions activity in Melbourne plummeted to a new record low last week as the city remains in lockdown, according to CoreLogic.

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The volume of loans that exited or expired repayment deferrals outweighed new or extended loans for the first time since COVID-19 support packages launched, according to new data.

Melbourne’s Central Business District could have its economic output reduced by up to $110 billion over the next five years as a result of the restrictions put on the region due to the ...