Dr. Philip Lowe, president of the RBA (Australian Reserve Bank), warned that financial reforms should avoid stopping banks from lending, otherwise “the economy will suffer losses.” On the loan side, Dr. Lowe said that even if the bank lends responsibly, a certain percentage of borrowers will eventually fall into financial problems and fail to meet…
Moreland City Council has launched the Moreland Good Design Sessions, a series of workshops aimed at members of Victoria’s leading design and construction firms. Professionals be invited to assess the recently released new draft Good Design Advice Sheets to determine how the quality of medium density housing can be improved. The launch is part of Moreland City Council’s Medium Density Review, which…
St Kilda’s landmark Esplanade Hotel or “The Espy” – as it is affectionately known – is reopening its doors following an extensive two year refurbishment undertaken by owners Sandhill Road and long time collaborators, Technē Architecture + Interior Design. The 140 year-old icon has been reborn via a design strategy which celebrates the story of the landmark venue and…
The Federal Government is likely to cut Australia’s permanent migration cap, in a move it says will ease congestion in the major cities. Key points: Prime Minister forecasts a 30,000 cut to annual permanent migration cap Government concedes cutting migration will take a financial hit to the budget Doubts raised that major city congestion will…
Sydney’s new apartment market hit a brick wall in the September quarter as buyers abandoned the NSW capital for more affordable opportunities in Melbourne and Brisbane, according to property research consultancy Urbis. Urbis’ latest Apartment Essentials report found an 88 per cent slump in Sydney off-the-plan sales over the quarter compared with the same period last year…
The RBA says it’s concerned about the risk to property developers as a result of tighter lending conditions. In his speech, Assessing the Effects of Housing Lending Policy Measures, The Reserve Bank’s Deputy Governor Guy Debelle said the tightening in lending to developers seemed a higher risk to the economic outlook than the direct effect…
National Australia Bank chief executive Andrew Thorburn has copped a $2.1 million pay cut as a result of the fallout and potential criminal misconduct emerging from the financial services royal commission.The penalty comes as chief executives including Mr Thorburn prepare to face an intense grilling at the royal commission, which begins its final round of…
In case you missed it: when Melbourne Airport held its stakeholder event for 2018 earlier in October, not only did it outline its future vision for its terminals, but it also provided a lot more context to the AirRail Melbourne proposal. 37 million passengers passed through the airport’s terminals in the most recent financial…
Australians think it is the best time to buy a house since March 2015, led by NSW residents who seem increasingly keen to take advantage of falling prices, according to Westpac economists. Key points: Nearly 12pc more people think now is a good time to buy a house Despite this, the ‘time to buy a…
In case you missed it: when Melbourne Airport held its stakeholder event for 2018 earlier in October, not only did it outline its future vision for its terminals, but it also provided a lot more context to the AirRail Melbourne proposal. 37 million passengers passed through the airport’s terminals in the most recent financial…