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Did China just yank the handbrake on Strayan commercial property?

June 23, 2017 - 10:55 -- Admin

Via AFR: The days of Chinese companies bidding up asset prices in Australia appear to be numbered, after the banking regulator in Beijing ordered a review of the sector’s exposure to the most acquisitive private firms. The companies singled out for review include property and entertainment conglomerate Dalian Wanda, which has interests in Sydney and

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SA joins bigger states in taxing foreign property buyers

June 23, 2017 - 10:50 -- Admin

By Leith van Onselen Lost among the ruckus over the South Australian Budget’s implementation of its own bank levy was the announcement that foreign buyers and temporary residents will also be levied an additional 4% stamp duty from 1 January 2018: Surcharge on foreign buyers of residential property The State Government is introducing a conveyance

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NAB joins specufestor interest-only smash

June 23, 2017 - 10:43 -- Admin

From NAB: NAB has today announced changes to its variable home loan interest rates, effective Friday 30 June 2017. The following three changes have been announced: The interest rate for owner occupiers making principal and interest repayments will decrease by 0.08% per annum, to 5.24% per annum The interest rate for owner occupiers making interest

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How extensive is flammable cladding across nation’s high-rises?

June 23, 2017 - 10:07 -- Admin

By Leith van Onselen Last week, Victoria’s Planning Minister, Richard Wynne, assured Melbournians that a fire like the one which engulfed London’s Grenfell Tower, killing more than 50 people, could not happen in Melbourne: “This would not be possible in Melbourne, or Australia in fact, because we have the strongest building codes really of any

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Victoria’s roads crack-up amid population deluge

June 23, 2017 - 09:48 -- Admin

By Leith van Onselen You don’t have to be a rocket scientist to acknowledge that the unprecedented immigration-fueled population growth into Victoria: Which is projected to continue ad infinitum: Necessarily requires massive infrastructure spending to ensure that incumbent residents’ living standards are not eroded. So why then has the Victorian Government slashed funding for road

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Dollar-exposed industrials moonshot

June 23, 2017 - 09:45 -- Admin

Via UBS: US$ Earners Outperform In Face Of Stronger AUDUSD Our “US$ Earners” (which make up 17% of the ASX200 market cap) have continued to outperform the broader market this year despite a moderately stronger AUDUSD, posting an average return of 13.7% versus 3.1% for the ASX200 over the last six months. The decoupling of

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Gonski onski as Senate passes bill

June 23, 2017 - 09:32 -- Admin

By Leith van Onselen It’s now official. The Senate last night voted 34-31 in favour of the Turnbull Government’s schools funding package. It follows two days of parliamentary debate over the package, which the Government agreed to increase from $18.5 billion to $23.5 billion in order to gain the support of Senate crossbenchers. The first

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Chinese steel sector thumping along

June 23, 2017 - 09:30 -- Admin

Macquarie has released its monthly Chinese steel mill survey and it paints a picture of a sector in rude health:  Opinions on the outlook for the steel and iron ore markets appear to have diverged in line with recent price performance. Steel mills and steel traders are more optimistic in our latest survey than

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Australian banks re-risked

June 23, 2017 - 09:12 -- Admin

A fading China, downgrades, levies, housing bubbles and no growth. Why would you own an Aussie bank? UBS see more to come: South Australia hits the banks with a further State Bank Levy In today’s South Australian budget, Treasurer Tom Koutsantonis announced it will be introducing a state based Bank Levy on the Major banks

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ABC joins Naked CEO roasting

June 23, 2017 - 09:03 -- Admin

Via the ABC: It is said “success breeds success”, but at troubled professional accounting body CPA Australia, it seems failure is delivering a pretty healthy revenue stream. Amid mounting controversy about CPA Australia’s management style, heavy spending on promoting its chief executive officer Alex Malley as well as his $1.8 million pay packet, heavy losses

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