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Economy

Residential construction activity wanes

Construction activity has decreased beyond expectations, partly driven by a slump in the residential space.

Residential construction activity wanes
Bank cuts variable, fixed home loan rates

A non-major lender has slashed rates across both its fixed and variable rate home loan offerings by up to 61 bps.

Bank cuts variable
Resimac settlements soar above system

The non-bank has reported sharp growth in home loan settlements, capitalising on a “flow away” from established lenders.

Resimac settlements soar above system
Revolut appoints first Australian CEO

The UK fintech has announced that it has appointed the first members of its Australian executive team, including its CEO, CCO and CRO, as it gears up to a full launch in Australia later this ...

Revolut appoints first Australian CEO
Home-building levels shrank drastically in 2019

A credit squeeze and tighter lending standards in 2019 led to the sharpest contraction in home building since the introduction of goods and services tax, according to new data.

House construction
Volt partners with retailer for savings challenge

The neobank has announced that it is partnering with the Cotton On Group to encourage staff and customers to participate in a savings challenge.

Volt partners with retailer for savings challenge
IO borrowers warned of repayment spike

Approximately 730,000 mortgage-holders with interest-only terms have been urged to prepare for a sharp rise in repayments over the next 12 months.

mortgagebusiness
FHBs struggling to understand home loan processes

First home buyers are finding the home loan application process “time consuming and inconvenient” as they struggle to understand what is involved, new research has confirmed.

Loan application
Auction markets maintain growth

Auction markets across Australia are continuing to grow as both the number of auctions and auction clearance rates trended higher last week.

Auction markets maintain growth
ADI stress testing frameworks found wanting

An assessment of the internal stress testing capabilities within authorised deposit-taking institutions (ADI) has found gaps in the internal stress testing frameworks of the institutions, ...

ADI stress testing frameworks found wanting
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