When he became prime minister last month, Malcolm Turnbull pledged to lead a "thoroughly liberal government, committed to freedom, the individual and the market". For the record, I support him. However, does the role and impact of APRA accord with principles of the government?
APRA oversees a banking and insurance industry that controls around $5 trillion of funds. Following their extraordinary measures across all our major lenders that has increased rates and diminished loan affordability - where is the government and their commitment to the individual and a free, non-manipulated market?
If you're a property investor and you haven't heard from your bank lately, that unopened letter on your desk might not be just a statement.
These changes have far reaching consequences. Perhaps you are affected or know of others who have been. How do you feel about it and what message would you like us to send to the lenders? Please feel free to discuss
McGrath Real Estate chief executive John McGrath has declared the Sydney property market "close to peak", according to an article in the Australian Financial Review.
McGrath's Monday report for its Sydney weekend clearance rate was 80 per cent, and while this was a "stronger property market" indicator, McGrath said the Sydney and Melbourne markets were 80 to 90 per cent through their cycle.
"I'd be concerned if Sydney sees another double-digit growth. I'm predicting three to five per cent more and then I think it's going to be plateauing. Melbourne is probably about the same," he said at the Aussie Home Loans conference in Melbourne on Monday.
What are you finding as a seller or buyer in August 2015?