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Economy

‘Tide turning’ as prices in Sydney and Melbourne lift

Sydney and Melbourne markets have reported a monthly home value increase for the first time since prices peaked in 2017, according to new data from CoreLogic.

Suburbs
Open banking regime commences

The financial services sector has officially ushered in the first phase of the new open banking regime.

Open banking
Stamp duty concessions could be on the cards

State governments may begin to introduce stamp duty concessions to further alleviate housing affordability pressures, according to one CoreLogic analyst.

Suburbs
Wealth and mortgage debt both edge higher

Household wealth edged higher in the March quarter, but declining house prices meant mortgage debt also creeped up, according to recent ABS statistics.

House property
BNK appoints new COO

The lender has announced the appointment of a chief operating officer as it prepares to launch its new brand to the national market.

Lisa Stedman
ANZ the last major bank to cut savings rates

The last of the big four banks has slashed interest rates on its savings accounts.

ANZ the last major bank to cut savings rates
Prime Minister notes economic ‘challenges’

Ahead of Parliament returning next week, Prime Minister Scott Morrison has conceded that Australia is facing “challenges and headwinds” but said the re-elected government will “work to get ...

Scott Morrison
Superannuation class action filed against AMP

Slater and Gordon has filed a class action against AMP claiming compensation for more than 2 million people it alleges have been charged “excessive fees” on AMP superannuation accounts

Superannuation class action filed against AMP
RBA reluctant to drop rates to ‘dangerous’ low

An aggressive monetary policy strategy employed in response to rate cuts in foreign markets would be a “dangerous path to go down”, Reserve Bank governor Philip Lowe has said, calling on ...

Philip Lowe
Mutuals outpacing major banks

APRA data revealing that the customer-owned banking sector is outpacing the major banks in the home lending space has been welcomed by a non-major.

Peter Lock
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