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Auction Results 06 July 2019

Domain released their preliminary results today. The final results for last week showed a higher clearance rate but still on low volumes. In Canberra, 50 auctions were listed, 39 confirmed and 17 sold with 2 withdrawn and 22 passed in to give a Domain clearance of 41%. We think that should be 34%. In Brisbane, … Continue reading “Auction Results 06 July 2019”

APRA finalises amendments to guidance on residential mortgage lending

The Australian Prudential Regulation Authority (APRA) has announced that it will proceed with proposed changes to its guidance on the serviceability assessments that authorised deposit-taking institutions (ADIs) perform on residential mortgage applications. In a letter to ADIs issued today, APRA confirmed its updated guidance on residential mortgage lending will no longer expect them to assess … Continue reading “APRA finalises amendments to guidance on residential mortgage lending”

Westpac warns on rise of non-banks in NZ

Like Australia, New Zealand is consulting on the capital requirements for its top banks, to mitigate their risk of failure. The Reserve Bank of New Zealand (RBNZ) received 160 industry submissions in the last round of consultation, including contributions from Australia’s major banks with Westpac voicing “significant concerns” around the advantages that could be handed … Continue reading “Westpac warns on rise of non-banks in NZ”