News

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.

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.

Westpac Bank has signalled it will lift its home loan rate to beef up capital reserves to guard against future financial crises.

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.

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.