Economy

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.  

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.

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

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

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

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

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

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.

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.

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.