Bankers and mortgage industry veterans dispel fears the Reserve Bank’s interest rate cut will further ignite hot property markets like Sydney, insisting regulators were keeping a tight leash on lenders to head off a housing bubble.
Google has now added the ability to calculate mortgage payments. The feature can be used by anyone via verbal interface on mobile devices, or on the desktop by typing in "mortgage calculator."
Treasurer Joe Hockey is set to announce the government's response to a parliamentary report into foreign investment in housing soon. The government's response is expected to focus on greater enforcement of the existing rules of the Foreign Investment Review Board, a fee of several thousand dollars for all applications and a national register of land title transfers that would be shared with the Department of Immigration.
Two Australian property groups, Novion Property Group and Federation Centres, are merging to create Australia’s third-largest listed real estate investment trust. It would be one of the largest retail landlords in Australia.
The latest Master Builders of Australia survey for the December 2014 quarter shows builders' hiring expectations rose in December to their highest level in seven years to pre-GFC levels. The construction industry is particularly benefiting from rising demand for housing in New South Wales, with an additional 65,400 jobs created in the state's building and construction sector in the 12 months to November 2014.
A Queensland-based lender, Wide Bay Australia Limited (Wide Bay), will improve its responsible lending practices following ASIC concerns with the way the group was assessing its customers’ suitability for home loans. The firm has been targeted as part of ASIC's wider focus on the lending industry’s compliance with responsible lending laws.
