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Auction Results 29 June 2019

Domain released their preliminary results for today. Last week the final result came in at 59%, with a higher result in Melbourne than Sydney. Volumes remain lower than a year back. This week, in Canberra 18 auctions led to 9 results reported, with 5 sold, 1 withdrawn and 4 passed in, giving a Domain clearance … Continue reading “Auction Results 29 June 2019”

May 2019 Credit Weak As…

The RBA released their credit aggregates to May 2019 today, we already covered the APRA ADI series in an earlier post. Seasonally adjusted owner occupied housing rose by 0.34% to $1.24 trillion dollars while investment lending slid 0.04% to $595 billion dollars, and comprises 32.5% of all household finance, in seasonally adjusted terms. Business lending … Continue reading “May 2019 Credit Weak As…”

ADI’s Mortgage Lending May Update

APRA has released their monthly banking statistics to end May 2019. It updates the stock of mortgages by lender. Overall mortgage lending rose o.24% (or 2.8% annualised) to a new record of $1.69 trillion dollars. Within that owner occupied lending rose 0.34% to $1.13 trillion dollars while lending for investment purposes rose 0.023% to $557 … Continue reading “ADI’s Mortgage Lending May Update”

The Lowdown on Libra

Cryptocurrencies have become a global phenomenon in the past few years. Now Facebook is launching it’s own cryptocurrency, in association with Visa, MasterCard, Uber and others. The stated aim of Libra is to “enable a simple global currency and financial infrastructure that empowers billions of people”. Via The Conversation. The announcement has sparked fears that … Continue reading “The Lowdown on Libra”

One Step Away From Global Recession – UBS

The world is one step away from a global recession, according to UBS who has questioned if the markets are ready. Via InvestorDaily. UBS has released global research paper where the investment bank reveals it is anticipating major changers to their forecasts, which would result in a global recession.  “We estimate global growth would be … Continue reading “One Step Away From Global Recession – UBS”

ASIC Still Looking At Responsible Lending

In a keynote address by ASIC Chair, James Shipton at Committee for Economic Development of Australia (CEDA) event in Melbourne yesterday, it appears the regulator will hold public hearings about responsible lending practices.  He said that ASIC was updating its responsible lending guidance, and as part of its consultation, public hearings would be held to … Continue reading “ASIC Still Looking At Responsible Lending”