The average household debt across the country has nearly doubled since 2003–04 and young Australians are the most affected, the Australian Bureau of Statistics has revealed. According to the ABS’ Household Income and Wealth data for 2015–16 released this week, the...
The “power and control” held by Australia’s established banks poses a “barrier” for small businesses seeking financing, according to the Small Business Ombudsman. Kate Carnell, Australian Small Business and Family Enterprise Ombudsman (ASBFEO), has welcomed...
ASIC has formally banned flex commissions in the car finance market, with the legislative instrument to ban these commissions registered on the Federal Register of Legislative Instruments today. Flex commissions are paid by lenders to car finance brokers (typically...
In the June quarter, housing affordability declined nationally with the proportion of income required to meet loan repayments increasing by 1.0 percentage points to 31.4%. This figure marked an increase of 0.2 percentage points when compared to the corresponding...
As residential land prices grow to historical highs, the mismatch between strong demand and a limited supply of new housing “remains acute”, industry agencies have said. The average residential land price inreased to $253,525 in the March quarter according to Housing...
