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Economy

Auction success rate jumps as volumes slump

The preliminary clearance rate across the combined capital cities improved across a lower volume of auctions last week.

Auction success rate jumps as volumes slump
COVID crisis triggers slide in Genworth earnings

An anticipation of the economic impact of the ongoing COVID-19 crisis has triggered a 300 per cent slide in the mortgage insurer’s underlying profit.

COVID crisis triggers slide in Genworth earnings
Prospa reports improved demand from SMEs

The non-bank lender’s FY20 results revealed that loan originations saw an uplift in June, following a quiet few months due to COVID-19.

Prospa reports improved demand from SMEs
Housing approvals sink to eight-year low

The COVID-19 crisis has triggered the fourth consecutive decline in dwelling approvals, the latest ABS data has revealed.

Housing approvals sink to eight-year low
New stamp duty concessions to create price ‘cluster’

Tax relief provided by the NSW government’s temporary changes to stamp duty may be offset by “price inflation”, according to CoreLogic.

New stamp duty concessions to create price ‘cluster’
Xinja partners with cloud services provider

The neobank has partnered with a cloud services provider to manage its API connectivity when it launches its forthcoming lending platform.

Xinja partners with cloud services provider
Major bank to partially close 114 regional branches

A big four bank has announced that 114 smaller regional branches will only open in the mornings from next month, as the bank embraces remote banking.

Major bank to partially close 114 regional branches
Foreign buyer interest up in Australia

New findings have suggested that Australia remains a hotspot for foreign investors, with buyer activity continuing to increase.

Foreign buyer interest up in Australia
COVID-19 puts the brakes on rental values

The COVID-19 environment has reversed any rebound in rental values, with closed international borders rattling rental demand.

COVID-19 puts the brakes on rental values
APRA tells banks to halve dividends

The prudential regulator has told banks that it expects them to retain at least half of their earnings and reduce payouts to investors, among several other changes, to ensure their ...

APRA tells banks to halve dividends
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