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While economists have been divided on whether a cash rate cut was to be expected this afternoon, the odds for an alteration ahead of today’s meeting were the highest they’ve been since the rate last moved in August 2016.
The number of home loans is down on the previous year in all but two of the states and territories, according to the latest State of the States report from CommSec.
I was surprised to see the CEO of the CBA state he wanted a flat fee for service for Mortgage Brokers. This is a clear example of offering up a Scape Goat.
Brisbane’s housing prices have hit a record high with new figures revealing the median had now hit $670,000.
Lendlease says Brisbane’s unit oversupply will peak this year and is bracing for rising defaults on settlements in the short-term as buyers fail to complete purchases.
The oversupply problem in Brisbane is heating up, with the Queensland Treasury now warning its apartment market could take a turn for the worse, especially if the bigger Sydney and Melbourne markets begin to falter.
The latest housing finance figures from the Bureau of Statistics released on Tuesday show that investors continue to flee the housing market, but owner-occupiers are also taking out fewer mortgages than they were a year ago.