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Economy

New dwelling approvals drop

The total number of new dwelling approvals declined in May, following two consecutive months of increase, the Australian Bureau of Statistics has revealed.

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Political uncertainty keeps rates on hold

An unresolved federal election and the unknown impacts of Brexit were believed to be the main drivers of the Reserve Bank’s decision to keep the official cash rate on hold.

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Election limbo won’t hurt AAA rating: Moody’s

Uncertainty surrounding the outcome of the weekend's federal election will have “limited credit implications” for Australia’s sovereign credit profile, according to Moody’s Investors Service

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Reserve Bank decides on cash rate

The Reserve Bank of Australia has delivered the decision of its monthly board meeting.

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RBA surprises market with cash rate decision

The Reserve Bank of Australia has delivered the decision of its monthly board meeting.

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Billions of dollars in mortgages still being switched

New figures from the Reserve Bank show investors are continuing to switch to owner-occupiers almost a year after the rate differential was introduced.

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Blind eye to foreign money could end badly for banks

A former banking executive has warned that Australian mortgage lenders could be left red-faced if questioned about the sources of foreign income.

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SuiteBox eyes Australasian expansion

Mortgage software company SuiteBox has announced it will ramp up its presence in Australasia over the next six months, in the lead-up to its global expansion in 2017.

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New home sales facing downturn

A recent report has revealed that total new home sales have fallen for a second consecutive month, pointing to a downward trend ahead.

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Foreign buyer tax ‘playing on xenophobia’

The NSW government’s stamp duty increase for foreign buyers is a greed-driven decision that is making scapegoats of non-Australian residents, according to a real estate veteran.

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