Category: RBA

Mortgage Lending Rules Tightened to Rein in Australian Property Market

October 6, 2021
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The Australian Prudential Regulation Authority (APRA) has announced long-expected changes to home loan lending rules to cool the property market. In a letter to lenders on Wednesday, APRA said they expect lenders to increase their serviceability buffer, which banks use to assess a borrowers’ ability to repay the loan, from 2.5 percent to 3 percent….

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Evergrande Collapse Expected to Be Contained: Australian PM

September 24, 2021
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The collapse of Chinese property giant Evergrande will be contained before it will significantly affect the Australian economy, Prime Minister Scott Morrison said. “When it comes to Evergrande, this is principally an issue in China, and that addresses their financial stability,” Morrison told reporters in Washington D.C. ahead of the Quad Summit. Morrison discussed the…

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Australian House Prices Jump to a New Record High, but Emerging Signs of Market Cooling

September 15, 2021
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Australian residential property prices continued to surge, revealing record levels of growth over the three months to June, according to new figures. The Australian Bureau of Statistics (ABS) revealed on Tuesday that home prices rose 6.7 percent—the strongest quarterly growth figure since ABS began tracking the data in 2003. “The continued growth in property prices…

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RBA Faced With Vastly Different Situation Given Delta Lockdowns

August 1, 2021
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Philip Lowe and his Reserve Bank board members will sit down to a markedly different set of circumstances when they meet on Tuesday compared to just a month earlier. Back in early July, Governor Lowe was lauding the economy for bouncing back earlier and stronger than expected. “The Australian economy is on a positive path,”…

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