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Economy

NSW government announces stamp duty reform

NSW Treasurer Dominic Perrottet has announced “significant” stamp duty reform designed to “reduce the tax burden on home buyers”.

mortgagebusiness
RBA reveals November cash rate

The central bank has announced its cash rate decision for November following its monthly board meeting. 

RBA
Major bank reports drop in mortgage applications

A big four bank has reported a “flat” annual result, noting that while the value of mortgages continues to rise, it is continuing to see fewer people apply for its home loans.

Mortgage applications
Apartment prices could dip by 8% by 2019

Apartments in the east coast of Australia are expected to be up to 8 per cent cheaper by the end of 2019, according to the results of a new survey.

mortgagebusiness
Melbourne Cup nearly halves consumer spending

Consumer spending falls by 42 per cent during the Melbourne Cup race, according to data from Commonwealth Bank.

mortgagebusiness
Bank reports $6.2bn loan book growth

A non-major lender has reported mortgage portfolio growth of $6.2 billion in the 12 months to September 2018.

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Major bank CEO intent on reducing ‘churn’

The CEO of a big four bank is committed to reducing “churn”, particularly in the home loan market, as he believes the concept “doesn’t make a lot of sense”.

NAB
Housing conditions weakest since 2012: CoreLogic

Home values have continued to fall, driven by declines in Sydney, Melbourne and Perth, against a backdrop of falling housing approvals, according to research from CoreLogic and the ...

mortgagebusiness
Household wealth could plummet by $700bn

Australia is the most vulnerable developed nation to a debt-induced economic slowdown and could be facing a $700 billion wipe-out in household wealth, according to a new report.

mortgagebusiness
Bank announces board departure

A non-major lender has announced the retirement of a non-executive director from the bank’s board.

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