Today
- Opinion
- Chanticleer
Near-record house prices can’t disguise a broken market
With house prices on pace to set new all-time highs, Australia’s affordability crisis is deepening. NAB chief executive Ross McEwan says a key solution will underpin urgent action.
- James Thomson
Rising listings, poor affordability slash house price growth
The rate fell by a third to 1.9 per cent across the combined capital cities during the September quarter, a new report from Domain shows.
- Nila Sweeney
NRMA to offer home loans funded by Bendigo Bank
Like Qantas, the IAG-owned insurer will distribute mortgages to its customers via an origination platform created by fintech Tic:Toc, funded by Bendigo Bank.
- James Eyers
This Month
This bank didn’t lose a single dollar to mortgage stress last year
NGM chief Bernadette Inglis says the outsized focus on the mortgage cliff made bankers and mortgage brokers prone to being “apprehensive”.
- Lucas Baird
- Opinion
- Chanticleer
MA Financial’s big shift raises two fascinating questions
While Andrew Pridham’s firm’s roots are in investment banking, its growth is being made possible by the disruption of the commercial banking sector.
- James Thomson
Loan discounts disappear as banks reach mortgage war ceasefire
Interest rates on new home loans have reached their highest level in more than a decade as major banks reach a ceasefire in the mortgage wars.
- Michael Read and Lucas Baird
Major banks survive APRA’s ‘severe but plausible’ stress tests
APRA’s chairman said no bank had breached capital and liquidity buffers in tests that assumed house prices fell by a third and unemployment spiked to 10 per cent.
- James Eyers
- Opinion
- Chanticleer
Why BoQ’s ugly result had analysts on the attack
Bank of Queensland is trying to sell investors light at the end of an 18-month tunnel. But CEO Patrick Allaway is trying to execute a turnaround in a deeply unhelpful environment.
- Updated
- James Thomson
Australians lead the world in mortgage pain: IMF
Australians devote a greater share of their income to mortgage repayments than any other advanced economy, the IMF revealed as it downgraded the local outlook.
- Michael Read
‘Mortgage wars’ set to heat up again, Heritage says
The nation’s largest customer-owned bank predicted a fresh round of competition would be extremely challenging for lenders.
- Lucas Baird
More first home buyers tap government help to enter market
One-third of home buyers were supported by the federal government’s Home Guarantee Scheme in FY23, a significant increase on the previous year.
- Campbell Kwan
House price rally not sustainable, warn economists
Many have pushed back expectations that the housing supply shortage, high immigration and a peak in interest rates will continue to support property prices.
- Cecile Lefort
- Opinion
- Chanticleer
Australia’s savings buffer gone by March, consumption to take a hit
Fixed rate mortgages, savings and a hot jobs market have sheltered households, but the dominoes are falling and economists worry the savings buffer is almost gone.
- Anthony Macdonald
Is CBA’s share price overvalued?
Some brokers say the bank’s historical price-earnings premium is no longer justified amid tough competition to write mortgages. Others disagree.
- James Eyers
- Opinion
- Chanticleer
RBA exposes magic number for housing, banks
Households are holding up reasonably well under the strain of higher interest rates. But a rise in unemployment would cause real pain.
- James Thomson
Barrenjoey upgrades Westpac, predicts bigger investment spend
Analyst Jon Mott says the bank delayed much-needed investment since it bought St George in 2008.
- Lucas Baird
Bank investors brace for CBA’s response to its shrinking loan book
The bank faces increasing competition from ANZ and Westpac, where a “wild internal battle” for the top job has created a push for more market share.
- James Eyers
- Updated
- Interest rates
Big squeeze no bar to another RBA rate rise
The Reserve Bank could still lift rates even after finding rapidly rising mortgage repayments had starved some borrowers of the ability to pay expenses such as health insurance and school fees.
- Updated
- Jonathan Shapiro and Michael Read
- Opinion
- Flat Chat
How a mortgage mess nearly cost me my new apartment
An old debt that was paid off but never cleared came back to haunt me.
- Jimmy Thomson
Rents soar to new highs as vacancy rate slumps to record
The residential rental vacancy rate plunged back to a new low of just 0.8 per cent nationwide over the September quarter, new data from Domain shows.
- Nila Sweeney
