
Murray: Australia needs limits on lending
The Abbott Government’s financial systems inquiry head David Murray says Australia needs to introduce limits on borrowing.

The Abbott Government’s financial systems inquiry head David Murray says Australia needs to introduce limits on borrowing.

The large and continually growing supply of apartments in Melbourne is failing to deter offshore investors.

Pressure on the RBA to again cut interest rates has eased slightly after unemployment figures released from the Australian Bureau of Statistics for February show a small drop.

The robust property market and rising prices are seeing more Aussies turn to home renovations.

In yesterday’s minutes from March’s RBA policy meeting it was clear further cuts to INTEREST RATESimage this year could be on the agenda.

Young people that are doing well financially are benefitting most from the sustained period of low interest rates, and it’s largely at the expense of older Australians.

The Foreign Investment Review Board (FIRB) says uncovering and prosecuting illegal residential property buying by foreigners is very difficult and a certain amount slipping through the cracks is inevitable.

The RBA looks set to cut rates again in April and even further as the year progresses to a level below 2 per cent.

The Federal Government released its tax discussion White Paper this week, and one South Australian lender says it’s a good opportunity to discuss how the tax system is impacting on housing supply and demand.

The housing boom may be coming to an end with new RP Data figures showing modest growth around the nation except for perennial leader Sydney.