Australian home price growth is set to slow down in late 2021 following double-digit percentage surges since the worst of the Covid downturn.
National property values climbed by 1.8 per cent in April, a sharp comedown from March s 2.8 per cent pace which was the fastest since October 1988.
Since the short-lived Covid downturn in property prices ended in September last year, house and apartment prices have soared by 10.2 per cent.
Last month, property prices hit record highs in 63 of Australia s 88 real estate sub markets with prices falling in just four localised regions nationally, CoreLogic data showed.
CoreLogic s research director Tim Lawless said property values were likely to slow in coming months as the number of potential buyers thinned out at the record price levels.
Coal miner warns Asian lenders wonât fill the void if local banks exit
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Asian lendersâ support for Australian coal miners could dry up if local banks are not willing to participate in lending syndicates, according to the NSW coal miner that narrowly avoided a debt default last year.
Centennial Coal supplies the feedstock for 30 per cent of NSWâs coal-fired electricity but said the next six months would be a âsensitive timeâ for the company as it raced to refinance debt maturities at a time when Australian banks were increasingly reluctant to lend to fossil-fuel producers.
Banks are increasingly reluctant to lend to coal miners.Â
3 May 2021
Westpac has told oil and gas producers it will no longer accept them as new customers unless they have clear, publicly-documented strategies to align their activities with the Paris climate goals.
It follows similar announcement by the Commonwealth Bank of Australia, and signals the banking and finance industry is now turning its attention away from thermal coal – which most of the big banks have already said they will stop funding – to two other main causes of global warming.
Westpac said its decision, which appeared with no fanfare on page 52 of its half-year results on Monday, was an entirely financial one, based on the “transition risk” of climate change. All the big banks have framed their existing coal screening policies in similar terms, as financial rather than environmental or moral decisions.
Why NZ will be next in bank shrinkage
Chanticleer is Australia s pre-eminent business column.
May 1, 2021 – 12.00am
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When four of Australia’s big five banks come to the market next week with cumulative cash profits of about $12 billion, it will present an opportunity to take stock of a sector critical to the post-COVID-19 recovery.
The government will be looking to see what leading bankers say about business investment. Investors will be focused on dividend payouts and potential buybacks of stock.
Banking analysts will be watching likely changes to the grim assumptions used to calculate expected loan losses caused by the pandemic. The assumptions were incredibly bearish.
Investment banker to replace Shipton in ASIC shake-up
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Long-time investment bank lawyer Joe Longo has been named the new head of the corporate watchdog, as the government prepares a radical shake-up of the regulator.
Mr Longo, who worked in senior legal positions at Deutsche Bank for 17 years before joining Herbert Smith Freehills in 2017, will replace current chair James Shipton who has been mired in a controversy after the Auditor-General raised concerns about his expenses.
Joe Longo was at regulatory challenged Deutsche Bank for 17 years including as its General Counsel, UK and EMEA.