Reserve Bank Interest decision The Reserve Bank Governor, Phillip Lowe has announced a change to the interest rate today to record levels. The RBA had decided to reduce the cash rate by a further .25 basis points to a record cash rate of .75 per percent. In it's press statement moments ago, the
Finance
Finance category
Home lending industry criticised by securities and investments watchdog
Home lending watchdog barks correction from brokers The home lending industry have come under fire from the Australian Securities and Investment Commission in its recent report, Looking for a mortgage: Consumer experiences and expectations in getting a home loan. ASIC research highlights the importance of reforms for mortgage brokers and home lending. As
Townsville Airport approved for $50M NAIF Loan
Townsville Airport investment welcomed Townsville Airport received welcome news. A $50 million loan application from the Northern Australia Infrastructure Facility (NAIF) has been approved. The Minister for Northern Australia, Senator Matt Canavan announced the NAIF Boards decision to fund the airport redevelopment plans. The plans include doubling the terminal capacity, improved road
Townsville investors take cap off to banking watchdog
Townsville investors relieved by APRA decision Townsville investors can feel some temporary relief from the Australian Prudential Regulatory Authority’s (APRA) decision to lift the cap on investor-only loans for residential properties offered by banks. Yesterday, APRA made their decision to lift it’s supervisory benchmark on interest-only lending amid a review that determined
Social impact investing designed in Turnbull national housing plan impacting North Queensland
Federal housing policy governance and finance Social impact investing and the Turnbull government’s replacement for the failed National Rental Affordability Scheme (NRAS) has been announced by the federal Assistant Treasurer in the National Housing Finance and Investment Corporation (NHFIC), as planned in the federal budget. Although the Turnbull government scheme is defined
Why Adani may still get its government loan
Even though Queensland Premier Annastacia Palaszczuk announced she would be vetoing the around A$1 billion loan to Adani for a rail link to its proposed Carmichael coal mine, funds could still flow to the company. Currently in caretaker mode for the Queensland election, the premier would need the consent of the
Home ownership falling, debt rising – its looking grim for the under 40s
Home ownership among young people is declining, as mortgage debt almost doubles for the same age group, results from the Household Income and Labour Dynamics in Australia (HILDA) survey show. It also shows young people are living with their parents longer. The Melbourne Institute of Applied Economic and Social Research undertakes
Veteran Diggers fall victim to national housing scheme spruiker
Veteran Diggers that served in Iraq and Afghanistan have fallen victim to the lure of promised returns from National Rental Affordability Scheme (NRAS) residential housing projects promoted by a spruiker working on commissions with the National Australia Bank and property developers. As many as two hundred Aussie veterans lost up to
Townsville Council secures “Big 4” Chief Finance Officer
Townsville City Council (TCC) announced today, the appointment of ex-Pricewaterhouse Coopers (PwC) and Deloitte strategic planning accountant and auditor as the local government authority's Chief Finance Officer (CFO). Mr. Matt Thompson will begin his new role as head of the Business Services division. This is the final executive position to be
Corporatocracy officially launched by Council to secure private capital
Council or corporatocracy? Corporatocracy has officially arrived in North Queensland helping the Townsville City Council (TCC) to gain renewed energy and purpose in creating economic opportunities for the City. The official announcement this week by the local government authority has created a development corporation so as to take advantage of private capital