Safe as Houses? Not if You Live in Australia

An interesting perspective via a press release from online broker FXB Trading. Whilst they are pushing their “hedge strategy” for Australian property, drawing parallels with the US crash of 2007; the key points they make are important and largely align with our view of the local property market.  If they are right, recent price falls … Continue reading “Safe as Houses? Not if You Live in Australia”

Global inequality is on the rise – but at vastly different rates across the world

From The Conversation. Inequality is rising almost everywhere across the world – that’s the clear finding of the first ever World Inequality Report. In particular, it has grown fastest in Russia, India and China – places where this was long suspected but there was little accurate data to paint a reliable picture. Until now, it … Continue reading “Global inequality is on the rise – but at vastly different rates across the world”

Slowing Momentum – Auction Results 16 Dec 2017

The preliminary auction clearance results are in from Domain. Once again further confirmation of slowing momentum, though possibly distorted by the impending holidays. Sydney’s results last week settled at 48.6%, well below the national average, and the count is lower this week. Brisbane cleared 55% of 129 scheduled, Adelaide 0% of 96 scheduled, and Canberra … Continue reading “Slowing Momentum – Auction Results 16 Dec 2017”

Its All About Momentum – The Property Imperative Weekly 16 Dec 2017

This week, it’s all about momentum – home prices are sliding, auctions clearance rates are slipping, mortgage standards are tightening and brokers are proposing to lift their business practices – welcome to the Property Imperative Weekly, to 16 December 2017. Watch the video, or read the transcript. In this week’s edition we start with home … Continue reading “Its All About Momentum – The Property Imperative Weekly 16 Dec 2017”

eChoice Sold To CBA Subsidiary

The Voluntary Administrators have announced that they have accepted an offer and executed an unconditional sale agreement with, Finconnect (Australia) Pty Limited (as subsidiary of Commonwealth Bank of Australia) to sell the assets of the eChoice Administration Group companies. This does not include the assets of the eChoice companies which have existing contracts with brokers … Continue reading “eChoice Sold To CBA Subsidiary”

Behind the 500% increase in small businesses using marketplace lending

From SmartCompany. The number of small business customers signing onto loans through marketplace lenders has increased more than 500% over the past year, but experts say scrutiny must be put on the alternative finance sector now to ensure smaller operators get the best deal. The Australian Securities and Investments Commission (ASIC) released its 2017 survey … Continue reading “Behind the 500% increase in small businesses using marketplace lending”

Genworth Changes Recognition of Premium Revenue

Genworth Mortgage Insurance Australia Limited (Genworth  today advised an expected greater fall in Net Earned Premium. ASIC had raised concerns about the basis used by Genworth to recognise premium revenue in the financial reports for the year ended 31 December 2016 and the half-year ended 30 June 2017 having regard to the pattern of historical … Continue reading “Genworth Changes Recognition of Premium Revenue”

Will APRA Loosen Lending Standards Next Year?

Interesting economic summary from Moody’s. They recognise the problem with household finances, and low income growth. They also suggest, mirroring the Reserve Bank NZ, that macroprudential policy might be loosened a little next year. I have to say, given credit for housing is still running at three times income growth, and at very high debt … Continue reading “Will APRA Loosen Lending Standards Next Year?”

ANZ reduces international money transfer fees for foreign currencies

ANZ today announced it was reducing international money transfer fees from Australia to foreign countries, effective immediately. Exchange rates have also been reduced for all ANZ offered currencies, including US Dollars, Euros, New Zealand Dollars, Great Britain Pounds, Hong Kong Dollars, Japanese Yen, Philippine Pesos and Indian Rupees. For Internet Banking there will be no … Continue reading “ANZ reduces international money transfer fees for foreign currencies”

The FCC just killed net neutrality

From The Verge. US Net neutrality is dead — at least for now. In a 3-2 vote today, the Federal Communications Commission approved a measure to remove the tough net neutrality rules it put in place just two years ago. Those rules prevented internet providers from blocking and throttling traffic and offering paid fast lanes. … Continue reading “The FCC just killed net neutrality”