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Median house price to top $1m in 10 yrs
- January 15, 2010
- Posted by: admin
- Category: Finance News
No CommentsSydney’s median house price will top $1 million before the decade is out, new data from Residex has found. Just a decade ago, Sydney’s median house price was $328,000 with few believing it would surpass $500,000. It is currently around $630,000. Residex chief executive officer John Edwards said this level of growth is expected to
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Westpac increases fixed rates
- January 13, 2010
- Posted by: admin
- Category: Finance News
Westpac has confirmed yesterday that it will lift interest repayments on its fixed rate mortgages by as much as 0.25 per cent. Westpac senior media relations manager Jane Counsel told Mortgage Business that higher funding costs and market rate movement had forced the bank to lift its rates. “We are moving in line with the
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Banks warn of higher funding costs
- January 12, 2010
- Posted by: admin
- Category: Finance News
New regulatory requirements and intensifying competition may drive up funding costs for the big banks in the year ahead. Treasurers of the big four told The Australian Financial Review that while pricing in global markets had eased, the banks still faced challenges in meeting an estimated $140 billion of funding requirements. Under the new regulations
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Rates to rise in Feb: AMP
- January 11, 2010
- Posted by: admin
- Category: Finance News
Interest rates are likely to rise again when the Reserve Bank meets in February, according to leading economists. AMP’s head of investment strategy and chief economist Shane Oliver said robust building approvals and house prices suggest more interest rate hikes are on the way. “I was thinking the RBA would wait till March before moving