The Federal Government has back-flipped on implementing the banking royal commission’s recommendation that commissions in the mortgage broking industry be abolished.
The way people handle their money is having a significant impact on the health of Australians according to a new benchmark measure of financial wellbeing.
Despite the recent handing down of the Hayne royal commission report, broker market share of Australian home loans has reached a record high.
Two of Melbourne’s most popular suburbs – St Kilda East and South Yarra – are two of the locations that have been hardest hit by the property downturn.
The Property Council of Australia has commissioned a Newgate poll that has found Labor’s proposed negative gearing changes will discourage property investors.
Buyers’ agents are saying the asking price for properties stuck on the market long term are being heavily discounted – sometimes by as much as 40 per cent.
Broker group Finsure says if some of the recommendations from the Hayne Royal Commission are brought in it will set the Australian home loan market back 30 years because it will give the banks more power.
Property investors have been popping up back out of the woodwork searching for super-cheap bargains before a possible Labor election win and subsequent negative gearing changes.
Business conditions have remained flat since falling sharply in December according to the recent NAB survey and it has the bank predicting interest rates to be on hold until 2020.
Hobart and the Gold Coast’s property markets are starting to benefit from the price downturn in Melbourne and Sydney.
