As new data shows property prices are rising at their fastest rate in more than 30 years,banks are preparing for lending restrictions before the end of the year.
First home buyers and low-income earners will find it even more difficult to buy into the Sydney and Melbourne property markets if regulators intervene,experts warn.
Sydney and Melbourne home buyers face tougher lending standards within months as house prices in the two largest Australian cities rise hundreds of dollars every day.
Australian regulators have been urged to cool the booming housing market,with the IMF warning a property price correction would pose a significant risk to the nation’s economic stability.
Climate change and its impacts are not going away,Australia can’t run the risk of markets assuming we are not transitioning to a lower-emissions future,writes Treasurer Josh Frydenberg.
Super fund members in funds that received a “pass” from the Australian Prudential Regulation Authority still need to check how their fund compares to others.
The performance test is the latest tool in the federal government’s arsenal to stamp out under-performing funds from the lucrative superannuation sector. But some are convinced it’s a blunt tool that may do more harm than good.
Thirteen superannuation funds have failed the federal government’s performance test designed to name and shame underperformers,including offerings from the Commonwealth Bank and Westpac’s BT.
Documents obtained under Freedom of Information laws show Professor Andrew Pitman AO has warned the prudential regulator its guidance for protecting companies against climate change is at odds with available climate science.
APRA’s performance test of super funds will heap pressure on underperforming funds to merge with better performers.
We need to act on the precautionary principle of significantly reducing emissions now,so we never get to find out how bad it could be.