Economy

The New Zealand government’s decision to ban foreign buyers from its residential market may present Australians, who were excluded from the ban, with greater investment opportunities.

Capital gains have dipped since their November 2016 peak, with some markets holding steady, but prices remain down in Sydney, Perth and Darwin.

The Turnbull government will introduce mandatory comprehensive credit reporting (CCR) from 1 July 2018 in what it anticipates will be a “game changer” for lenders and consumers.

The head of a regional bank has explained the impact that APRA’s lending curbs have had on the group’s mortgage portfolio as it refocuses on different market segments.

Federal Treasurer Scott Morrison has outlined how removing the prohibition of the term “bank” could lead to a “flood of new online lenders” and drive rates down for consumers.

Australians have switched approximately $59 billion worth of home lending from investor to owner-occupier mortgages since July 2015, according to the central bank.

Treasurer Scott Morrison told an audience of financial services professionals this week that the Banking Executive Accountability Regime (BEAR) is “legislation with teeth”.

Westpac chief economist Bill Evans has warned that a Labor win in 2019 will create major shifts in property investor sentiment as new tax policies are introduced.

Pepper Group Limited has priced its third RMBS issue of the year following strong investor support that drove its AUD equivalent order book close to $1.9 billion.

The CEO for banking & wealth at Suncorp Bank, David Carter, has said that the banking industry has “lost the social right to make money”, adding that it needs to earn back “community ...