Near record low interest rates and talks of a property recovery has done little to instill confidence in a struggling residential construction sector. The Age’s Chris Vedelago today reports: Melbourne’s outer-suburban property market is facing a serious slump as distressed buyers and builders cancel one in every three new home …
The International Monetary Fund (IMF) has highlighted concerns about the concentration and interconnectedness of Australia’s big four banks in the most recent Financial System Stability Assessment on Australia. It reports Australia’s four major banks, The ANZ, Commonwealth, Westpac and NAB hold 80 per cent of the countries banking assets and …
The Australian Securities and Investments Commission (ASIC) has been forced to set up a taskforce to conduct surveillance on spruikers pushing the use of self-managed super funds (SMSF) to leverage up heavily into residential properties located typically in depressed markets such as Queensland. ASIC commissioner Peter Kell is concerned SMSFs …
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