As major banks cut interest rates, Australia’s current fixed mortgage interest rate is probably the lowest in history, less than 3%. Westpac (Westpac Bank, Westpac)’s St George, Bank of Melbourne and BankSA have all cut their fixed home loan interest rates below 3%, indicating that the cash rate is expected to fall further. There are…
It is expected that borrowing costs will further decline. Westpac Bank, Melbourne Bank and BankSA have lowered various fixed-rate mortgage rates to below 3%. Spring is approaching, real estate sales season is about to begin, financial markets bet officially will cut interest rates further, Westpac’s subsidiaries cut fixed-rate loans by 0.1 percentage points to 1.4…
One expert is concerned that Donald Trump’s trade war with China may cause Australia’s cash rate to fall to zero. The Reserve Bank of Australia (RBA) currently expects global economic growth to continue to slow as the US president imposes new tariff barriers on Australia’s largest trading partner. Martin North of Digital Finance Analytics said…
In the last fiscal year, the number of properties sold in Australia for more than 1 million yuan fell by 17.2%. Lending tightening and weak markets led to only 18.4% of single-family homes and 9.8% of units in state capitals sold at least $1 million in the year to June. Sydney and Melbourne were hit…
Prime Minister Morrison said that Australia and the rest of the world need to get used to the Sino-US trade war. The two big powers continue their tariff disputes, and Trump earlier this month said it would impose tariffs on Chinese goods such as mobile phones worth $300 billion. Morrison said this morning before going…
More than a quarter of Victoria’s homebuyers are hit by the highest stamp duty rate, which has sparked a call for a comprehensive reform of the $6 billion stamp duty. Ordinary buyers are now forced to pay nearly 44,000 yuan, 2.5 times that of the stamp duty in 2008. The median house price in Melbourne…
After a solid victory in the federal election, the glory of the coalition party seems to be fading, and the latest Newspoll shows that the Labour Party has narrowed the gap between the two sides. Although Morrison and the Alliance Party received strong support in the first few weeks after the election, the polls on…
Following Tuesday’s victory over ASIC, the court rejected regulators’ irresponsible loan allegations, and Westpac announced a series of reforms to its home loan policy. The updated guidelines are scheduled to take effect on August 20, not only primarily, but also related brands: St George, Bank of Melbourne and Bank SA. Perhaps most notably, Westpac will…
Later this month, commuters may experience cancellations and delays in trams. Drivers who seek better pay, will refuse to work overtime and refuse to work on rest days. About 1,500 Yarra Trams drivers and customer service staff voted on August 26 (Monday) to launch the work ban in an effort to achieve a 6% annual…
Due to security concerns about the winning bidder, the Victorian Liberal Party was forced to return more than $300,000 from the fundraising auction, including money raised with the Malcolm Turnbull, Julie Bishop and Matthew Guy dinner auctions. The auction, which was attended by the then Prime Minister, Foreign Minister and Victorian Opposition Leaders, was brought…