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Multi-property investors worry RBA

Growing risks in the Australian property market.

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We'll be accountable, bank boss promises

The head of Australia's biggest bank says he is prepared to front up to any inquiry parliament or the government sets up to investigate the sector.

Commonwealth Bank CEO Ian Narev is scheduled to make a second appearance before the House of Representatives economics committee in March as part of its regular review of the banking and financial system.

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Rate cut could hinge on Q2 inflation


The Reserve Bank of Australia has downplayed Brexit fears but economists expect another weak local inflation print to pave the way for an interest rate cut next month.

In the minutes of the July meeting, released on Tuesday, the central bank said updates on consumer prices, the jobs market and housing activity in the coming month would be important.

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Fewer than half to own homes: new report


Fewer than half of Australians could own their own home by next year, a new report shows.

The Melbourne Institute report author Roger Wilkins says the high cost of real estate is putting pressure on the younger generations, while older generations benefited from the large increases in house values.

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Housing market confidence improves


The mood among housing market professionals soured ahead of the election, but confidence about the coming couple of years has picked up.

National Australia Bank said its Residential Property Index fell further below its long-run average in the June quarter.

Aside from the final quarter of 2015, it was the lowest ebb for the index since late 2012.

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Strong economy may force rates rethink


The strong domestic economy and labour market may lead the Reserve Bank to hold rates steady in August, a survey suggests.

The National Australian Bank monthly business survey shows business confidence, trading, profitability and conditions all rose in June, despite concerns about UK's exit from the EU and Australia's federal election.

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Home loan approvals fall 1.0% in May


The number of home loans approved fell 1.0 per cent in May, beating market expectations of a 2.0 per cent drop.

The value of total housing finance rose 1.0 per cent in the month, seasonally adjusted data from the Australian Bureau of Statistics shows.

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Housing market firms after election


With the federal election behind it, the housing market has shifted back into overdrive.

The number of auctions in the mainland state capitals jumped to 1,365 last week, according to housing market analytics firm CoreLogic.

That was up sharply from a below-par 841 the previous week, which included the day of the election.

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Rents tumbling and will slip further


Housing rents have suffered the biggest annual decline on record, dragged down by steep falls in mining cities.

Weekly rents across capital cities are 0.6 per cent lower over the year to June, according to the CoreLogic RP Data rental review.

That's the sharpest fall for two decades, dating back to 1996 when the series began.

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Rating downgrade could trigger rate cuts


A downgrade of Australia's triple A credit rating downgrade could lead to higher mortgage interest rates, but also trigger Reserve Bank rate cuts.

Standard & Poor's has lowered its outlook on the country's credit rating from stable to negative, meaning there is a one-in-three chance of a downgrade within two years if the run of budget deficits looks set to continue.

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NSW rental changes to protect DV victims


NSW domestic violence victims looking to flee an abusive partner will be given the power to end their rental contracts faster under proposed new laws.

Currently, victims on a fixed lease need to give their landlords two weeks notice, with potential liabilities, and provide a final AVO, which can take up to 12 months to obtain, before they can break their contracts.

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RBA holds interest rates at 1.75%


The Reserve Bank has held the cash rate at a record low of 1.75 per cent.

RBA governor Glenn Stevens said given weak domestic inflation, the ongoing transition away from mining and recent market volatility following the Brexit vote it was "prudent" to hold rates in July.

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RBA to hold rates after election, Brexit


The Reserve Bank is set to hold rates steady amid uncertainty about the federal election result and the Brexit vote.

All 12 economists surveyed by AAP expect the cash rate to be held at an all-time low of 1.75 per cent when the central bank meets on Tuesday.

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Home values rise 0.5% in June


Capital city dwelling values rose a half per cent in June, led by Sydney and Melbourne.

The CoreLogic June Home Value Index results shows gains of 1.2 per cent in Sydney and 0.8 per cent in Melbourne.

All but one of the other state and territory capitals recorded falls, the exception being Hobart, where values rose by 1.8 per cent.

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Housing debt hits $1.56 trillion in May


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New home sales fall for second month


Most people who sold their home in the first quarter of 2016 made a profit, with the average gain around $240,000 a new report shows.

Of the homes sold in the first quarter, nearly 91 per cent were sold at a profit, according to the "Pain and Gain" report from market analysis firm Corelogic.

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Low chance of rate cut despite Brexit


With the Brexit vote sending shockwaves through global markets, it's worth wondering why the futures market is only giving a one-in-five chance to the RBA cutting interest rates next week.

Even last Friday afternoon, as news that British voters had opted to exit the European Union spread across a shocked world, the market put the odds of a July cut in Australia at 45 per cent at most, a sentiment that lasted only a few hours. Read More

Average home sale profits $240K: report


Most people who sold their home in the first quarter of 2016 made a profit, with the average gain around $240,000 a new report shows.

Of the homes sold in the first quarter, nearly 91 per cent were sold at a profit, according to the "Pain and Gain" report from market analysis firm Corelogic.

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Housing auction demand strong last week


Auction clearance rates remained high last week, signalling ongoing strength in the housing market despite the impending election and measures to limit rampant lending to investors.

In the week ending Sunday, 69.1 per cent of auctions were completed with a sale, based on a preliminary count by industry analysts CoreLogic.

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Housing prices growing faster this year


The housing market warmed up further last week, despite the onset of winter.

The two major markets recorded solid gains over the week ending Sunday, according to the weekly report from CoreLogic.

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