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Economy

ADIs report $14.3bn fall in mortgage volumes

A 16.4 per cent slump in new home loan volumes has been reported by APRA, contributing to a 12.6 per cent fall in profits.  

APRA
RBA sends ‘unusual’ signal to market

The central bank has conceded that further rate cuts are “more likely than not” in minutes released following its first monetary policy adjustment in almost three years.

RBA
HSBC economist disputes house price gloom

Australia’s recent housing correction has been “orderly”, rather than concerning, according to HSBC’s chief economist.

HSBC economist disputes house price gloom
Home prices dip 3% in March quarter

Residential property prices continued sliding across Australia’s capital cities in the March quarter, according to the latest ABS statistics.

Suburbs
Auction volumes, clearance rates bounce

CoreLogic has reported a spike in auction volumes and an improvement in clearance rates across Australia’s combined capital cities.

Auction
MyState divests financial advice business for $3.5m

The Tasmanian bank has announced the sale of its financial planning business assets to Fiducian Group.

MyState Bank
Bank expands commercial footprint in Australia

A global investment bank has announced its plans to expand its commercial offering to multinational Australian businesses after identifying “significant opportunities” in the market.

Citi Commercial Bank
Doubts cast over utility of FHB loan scheme

It is “unlikely” that the federal government’s first home buyer scheme will achieve its objective of improving housing affordability, according to a new analysis from CoreLogic.

For sale
Rate cuts tipped to ‘boost’ GDP if global risks temper

Moody’s has backed the Reserve Bank’s monetary policy adjustment, adding that it expects the monetary policy boost to help revive the floundering domestic economy.

Moody's
Home rebuilds unscathed by broader decline in Sydney

Demand for home rebuilds in Sydney has remained stagnant over the last 12 months, despite the other challenges that have plagued the housing market, a Metricon executive has observed.

House in construction
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