Economy

Class action law firm Maurice Blackburn has alleged that a big four bank colluded with external parties to tie up borrowers in “unfair high-interest loans”.

The head of the property investment group expects the market to withstand economic headwinds, despite new ABS data revealing that the unemployment rate has hit a 22-year high.

Consumer sentiment around housing and purchasing a dwelling has bucked the wider trend in sentiment around the economy.

The Australian Office of Financial Management has approved an initial investment of $30.8 million into the neo-lender’s warehouse through the Structured Finance Support Fund.

Residential building activity contracted over the March quarter, prior to the introduction of lockdown measures imposed to curb the spread of COVID-19, new ABS data has revealed.

Jamie McPhee, the CEO of super fund-owned bank ME Bank, has resigned after nearly 10 years in the role.

New quarterly data has revealed the full impact of social distancing measures amid COVID-19 on auctions, with withdrawal rates taking a particular beating.

New home sales have spiked off the back of the federal government’s HoemBuilder scheme, according to new research.

The percentage of auctions withdrawn in Melbourne was more than double Sydney’s withdrawal rate owing to the second round of lockdown in the city.

The Victorian government has announced new $5,000 grants for businesses impacted by the second round of restrictions across metropolitan Melbourne and Mitchell Shire.