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Economy

NSW government announces housing reforms

The state government has announced a raft of measures to improve housing affordability including scrapping stamp duty for first home buyers and taxing foreign investors.

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Bankers chest-beating over levy changes

The Australian Bankers’ Association says the government was “forced to make concessions to the bank levy” after meeting with the big four banks.

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APRA boss clarifies position on house prices, budget measures

The prudential regulator has stressed that house prices are not its concern as it seeks to contain “heightened risks” in mortgage lending.

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Report calls for land tax to replace stamp duty

A new report has recommended ‘broad-based land taxes’ replace stamp duties, arguing that policies which limit mobility impede the efficient functioning of labour markets.

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ACCC could steer borrowers away from the big four

Treasurer Scott Morrison has revealed how the ACCC will prevent the majors from passing on the bank levy to borrowers and explained how the government body will show Australians “how to get ...

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Treasury sounds alarm on ‘risky’ housing market

The Treasury secretary has stressed that developments in the housing market continue to pose a risk to the economy, his second warning over housing in less than a week.

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Govt accused of copying UK banking ‘playbook’

The former CEO of an ASX-listed mortgage provider believes the 2017 federal budget has “brazenly copied swathes” of the UK’s “old playbook” by insisting on a bank tax.

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Sydney and Melbourne ‘have peaked’: AMP Capital

More economists are calling the top of the market ahead of the release of CoreLogic’s latest house price data this week.

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Moody’s downgrades China’s credit rating

China’s credit rating has been lowered by Moody’s Investors Service amid concerns about rising debt and a slowdown in economic growth.

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Housing construction posts ‘significant fall’

Construction activity was weaker than expected in the first quarter of the year, hindered by a decline in residential building.

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