Property Pulse, Research News • 02 Aug 2022 | CoreLogic As widely expected, the Reserve Bank of Australia (RBA) lifted interest rates by another 50 basis points today. The fourth rate hike in as many months, today’s decision takes the cash rate from an emergency low of 0.1% to 1.85%. Since commencing the tightening cycle on…
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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…
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…
By Sam Nichols 27 July 2022 Australia’s annual consumer price index has grown to a rate of 6.1 per cent, with housing noted as a key driver. According to the latest data released today (27 July) by the Australian Bureau of Statistics (ABS), Australia’s Consumer Price Index grew by 1.8 per cent over the June…
KATE JONES JUL 25, 2022 When one door closes, another door opens and this adage couldn’t have been truer for NSW agent Robert Pignataro. Not long after his job as a solicitor was made redundant, Pignataro happened to accompany his father to a real estate agency where he was to meet his future mentor. Frank Mees,…
Core Logic Property Pulse, Research News • 20 Jul 2022 Cash rate forecast updates from ANZ Bank has reverberated through the economics, banking and finance and property industries this week. The Reserve Bank has also publicly stated the official interest rate is still probably well below where it needs to be. More will be known…
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…
By Kate Aubrey | Mortgage Business RBA governor Philip Lowe has delivered its third consecutive cash rate hike as it attempts to slow down rising inflation. Following its monthly monetary policy meeting on Tuesday (5 July), the Reserve Bank of Australia (RBA) announced that it will increase the cash rate by 50 bps. The move…
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…