While investment in the Melbourne and Sydney property markets cools, economic advisers have started looking out west to Perth as one of the country’s best buyer markets.
Economists have slammed recent claims there could be a drop of up to 7.5 per cent in house prices next year.
Earlier this week Macquarie predicted a drop in house prices of 7.5 per cent across the country in 2016.
Westpac Bank has signalled it will lift its home loan rate to beef up capital reserves to guard against future financial crises.
Australia’s unemployment rate has remained steady for the last month at 6.2 per cent.
While the unemployment rate remained unchanged, the actual number of jobs available fell by 5,100.
The Federal Government has given the banking regulator APRA until the end of the year to ensure Australian banks are holding enough capital to weather financial storms.
New research predicts Melbourne to overtake Sydney as the best performing capital city market in 2016.
It seems customers are increasingly happy with mortgage and finance brokers.
The latest figures from the Credit and Investment Ombudsman (CIO) show consumer complaints against mortgage and finance brokers have fallen over the 2015 financial year.
Now that the big four banks have all lifted their mortgage rates after Westpac made the first move, it could put the onus on the RBA to again cut their official rate on Melbourne Cup day.
The Reserve Bank has no need to cut interest rates tomorrow according to the Australian National University.
The Reserve Bank has resisted the temptation to cut interest rates on Melbourne Cup day but has left the door open for more cuts in the future.
