Regulation

The government has been urged to develop a national strategy to tackle housing affordability, with some suggesting there should be a new federal body or a minister.

While he can’t rule out that the conditions for a rate rise could unfold next year, the Reserve Bank governor has insisted the probability is close to nil.

The majority of mortgage holders are already maintaining higher loan repayments than required and won’t be shaken by a climbing cash rate, according to the Reserve Bank.

In property markets faced with supply and lending issues, an economist has urged the government to launch a second rendition of the HomeBuilder program, specific to regional buyers.

Home owners have built up their cash buffers as a “side effect” of surging housing prices, with the Reserve Bank arguing they’ve gained financial resilience despite higher debt levels

Debt-to-income ratio limits and serviceability buffer changes are to be embedded into APRA’s standard for credit risk management.

Senators have been told money laundering could further push up surging house prices, but real estate lobbyists have warned counterattack measures could also shake the market.

Planning and regulatory processes around developments can drag out the time from zoning approvals to completed housing by up to 12 years, according to a Queensland regional council.

Income and expense verification is the most popular use of Consumer Data Right data, according to a new report from open banking intermediary Frollo.

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