Regulation

More than 50,000 people have signed up for the government’s home-ownership schemes for first home buyers and single parents, since they commenced last year.

The New Zealand central bank has decided to push up its cash rate and to unwind monetary stimulus, as it considers the country’s “unsustainable” house prices.

The prudential regulator is increasing the minimum interest rate buffer it expects banks to use in serviceability of home loans.

Home buyers using realestate.com.au may soon be able to generate a “financial passport” to help them understand their borrowing capacity, as part of a new partnership with Frollo.

Regulators would look to avoid a “sharp crackdown” on lending at a time when monetary and fiscal policy are aimed at bolstering the economy, according to an economist.

Reserve Bank governor Philip Lowe has said regulators are looking to maintain lending standards and serviceability buffers at an “appropriate” level.

More fundamental policies by state and federal governments are required to address poor housing affordability in addition to macroprudential policies, an economist has argued.

The real estate platform has warned the pandemic widened the wealth divide, draining Australia’s young people and low-income workers’ ability to buy housing for the long-term.

ANZ was the only major bank to record a fall in both owner-occupier and total loans in August, continuing its recent trend of a slimmer book, new data has shown.

A multimillion-dollar class action has been filed against the New Zealand units of ANZ and CBA, alleging failure to refund wrongfully charged loan fees to 150,000 customers.