Citi puts Australian retail bank up for sale theage.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theage.com.au Daily Mail and Mail on Sunday newspapers.
Bank eyes broker channel as it revamps theadviser.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theadviser.com.au Daily Mail and Mail on Sunday newspapers.
Australia s banks could start raising their variable mortgage rates from July, even though the Reserve Bank is keeping the cash rate on hold until 2024. This could see house price falls in 2022.
Richard Holden
House prices are back in the news, and out of control.
In the past three months the median house price in Sydney has risen by more than A$100,000 to A$1.12 million. Sydney’s median residential property price (including houses and apartments) is now 2.6% above its previous high-water mark, recorded in August 2017, before lending criteria were tightened (and COVID-19 struck).
Even areas far from central Sydney, such as the Central Coast, have recorded double-digit percentage increases.
What exactly is driving these sharp rises is a matter of debate. Australia’s economic recovery from COVID-19 has been stronger than many thought. The prospect of most Australians being vaccinated and international borders reopening provides further hope – even if our vaccine roll-out has been less than stellar in its planning and execution.
How problem-child ASIC forced a frazzled Frydenberg to act afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.