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Economy

APRA issues call to action to challenger banks

APRA is “keen to see” new entrants in the banking space that can “force incumbents to up their game”.

APRA
Building activity takes an unexpected turn

ABS data shows that the number of new dwelling commencements increased by 1.1 per cent in the June quarter, however building commencements are still expected to drop.

Building in construction
‘No intention of tightening credit’: CFR

Australia’s regulators have stressed that they have no intention of tightening credit conditions further amid ongoing work to revise responsible lending guidance.

RBA APRA ASIC Treasury
MyState appoints interim CFO

The Tasmania-based bank has appointed Gary Dickson to the role of interim CFO.

Gary Dickson
Clearance rates to fall from recent heights

Final auction clearance rates across the country are due to dip below 70 per cent for the first time since mid-August, according to CoreLogic.

Clearance rates to fall from recent heights
Major bank flags $559m in new remediation costs

A big four bank has revealed that its second-half cash profit will be impacted by an additional $559 million in remediation costs.

Major bank flags $559m in new remediation costs
Top end of town driving market rebound

The premium end of Sydney and Melbourne’s housing markets is driving a rebound in the property market, according to CoreLogic.

Expensive suburbs
Investor interest rekindled in Sydney

Buoyed by interest rate cuts and relaxation in credit policies, property investors are once again turning their sights to Sydney, according to research.

Sold sign
Doubts cast over touted market rebound

The managing director of a mortgage management firm is unconvinced by ongoing suggestions of a spike in housing market activity.

Murray Cowan
Banks back funding financial counselling

The ABA has supported recommendations for the big four banks to partly fund the financial counselling sector.

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