Auction Results 21 Oct 2017

The preliminary auction clearance results are in from Domain.  Looks like the volume of sales has fallen compared with last week (even though the clearance rate is higher) and last year – all subject to final results later of course. Melbourne is still hotter than Sydney, where our leading indicator research suggests appetite for property … Continue reading “Auction Results 21 Oct 2017”

China, QE and Housing Key Australian Investor Concerns

A China downturn has moved back into the top spot of Australian credit markets risks over the next 12 months, according to Fitch Ratings‘ 4Q17 fixed-income investor survey, with 42% of respondents ranking a hard landing as a high risk, up from 25% in 2Q17. China replaces a domestic housing market downturn as the top … Continue reading “China, QE and Housing Key Australian Investor Concerns”

Pulling In Two Directions – The Property Imperative Weekly 21 Oct 2017

The latest economic and finance data appears to be pulling in two directions, so we discuss the trends. Welcome to the Property Imperative Weekly to 21st October 2017. Watch the video, or read the transcript! In this week’s review of the latest finance and property news, we start with data from the Australian Institute of … Continue reading “Pulling In Two Directions – The Property Imperative Weekly 21 Oct 2017”

ABA dumps Sedgwick’s commissions guidelines

From Mortgage Professional Australia. Banks will be free to take their own approaches to broker remuneration after the Australian Bankers Association abandoned a key part of the Sedgwick Review. Originally the ABA set out for banks to collectively develop “guiding principles” for the way banks remuneration brokers and their own staff. However, the preparation, consultation … Continue reading “ABA dumps Sedgwick’s commissions guidelines”

Is positive credit reporting a flawed deal?

From Australian Broker. The move towards more comprehensive credit reporting may be beneficial on the surface, but one legal expert has warned that it will have negative impacts on consumers and won’t solve a root issue in the reporting process. While regulators and credit providers have been singing the praises of this expanded credit reporting … Continue reading “Is positive credit reporting a flawed deal?”

More On The Reduction In Home Ownership In Five Charts

The newly released Australian Institute of Health and Welfare report “Australia’s Welfare 2017“, is a distillation of data from various public sources, rather than offering new research. However, the section on housing, reinforces the trends we have been highlighting in our recent posts. Home ownership is still the most common tenure type in Australia, as … Continue reading “More On The Reduction In Home Ownership In Five Charts”

Debt agreements and how to avoid unnecessary debt traps

From The Conversation. Debt agreements are the fastest growing form of personal insolvency in Australia. They were designed to offer debtors a low-cost way to make arrangements with their creditors, while avoiding bankruptcy and some of its more serious consequences. When introduced, law reformers intended that debt agreements should be administered by volunteers rather than … Continue reading “Debt agreements and how to avoid unnecessary debt traps”

Senior property investors can’t ‘sit on their hands’

From Nestegg. The Citi report argued that the growing number of multi-property investors and falling yields were a worrying sign for senior investors who may have little time left in their working life to repay their debts. The report was compiled using Citi figures and data from Digital Finance Analytics (DFA). “Tighter application of responsible … Continue reading “Senior property investors can’t ‘sit on their hands’”

Westpac to refund some package customers, costs $65m

Westpac has announced it would provide refunds to some customers holding ‘packaged’ accounts after identifying that some customers did not automatically receive benefits to which they were entitled.   The issue affected approximately 200,000 customers who held Premier Advantage Packages with Westpac or Advantage Packages with St. George, BankSA, or Bank of Melbourne from 2010. … Continue reading “Westpac to refund some package customers, costs $65m”

Canada Reinforces Mortgage Underwriting Guidelines

From Moody’s. On Tuesday, Canada’s Office of the Superintendent of Financial Institutions (OSFI) published the final version of “Guideline B-20 − Residential Mortgage Underwriting Practices and Procedures,” which mandates more stringent stress-testing for uninsured mortgages. The guideline, which takes effect on 1 January 2018 and applies to all federally regulated financial institutions in the country, … Continue reading “Canada Reinforces Mortgage Underwriting Guidelines”