Latest Property News

Big four lift rates in wake of RBA’s 4th hike

By Sam Nichols | 04 August 2022 | Mortgage Business Lenders have begun to respond to August’s 50-bp lift, with all of the big four banks passing on the full rate. Earlier this week, the Reserve Bank announced it would be lifting the cash rate by another 50 basis points, bringing the figure to 1.85 per cent.  Following…

Home Value Index shows housing downturn accelerates as more markets follow Sydney and Melbourne into a downswing

Source: CoreLogic 01/08/2022 Australian dwelling values fell by -1.3% in July, marking the third consecutive month CoreLogic’s national Home Value Index has fallen.  After national dwelling values surged 28.6% through the pandemic growth phase, values are now -2.0% below April’s peak. Five of the eight capital cities recorded a month-on-month decline in July, led by Sydney and…

Falling values spread to 40% of Australia’s house and unit markets

18 July 2022 CoreLogic Australia’s housing market downturn is gathering momentum as consecutive rate hikes, rising inflation and weaker consumer confidence places additional pressure on values. CoreLogic’s interactive Mapping the Market tool, updated today, shows 41.9% of house and unit markets analysed in the June quarter declined in value, a significant increase on Q1, when 23.6% of…

APRA grants RADI to Australia’s 1st Islamic bank

By Annie Kane | Mortgage Business Islamic Bank Australia has been granted a restricted banking licence from APRA. The Australian Prudential Regulation Authority (APRA) has authorised IBA Group Pty Ltd – trading as Islamic Bank Australia – as a restricted authorised deposit-taking institution (restricted ADI) under the Banking Act 1959. It becomes the first Islamic bank in…

Bendigo acquires ANZ’s investment lending portfolio

By Annie Kane | Mortgage Business Bendigo and Adelaide Bank Limited has agreed to acquire the ANZ Investment Lending portfolio – which has approximately 11,900 customer facilities – to further grow its margin lending business, Leveraged Equities Limited. The portfolio is valued at approximately $715 million and is expected to take the combined value of the bank’s margin…