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ISCOVER
The weekly round-up of the biggest news stories from across Momentum Media’s property titles for the week ended 16 April.
Welcome to The Adviser’s weekly round-up of the headline stories and news that are important not only for the real estate sector, but also for the state of property in Australia more broadly.
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To compile this list, not only do we consider the week’s most-read stories and the news that matters to you, but we curate it to include stories from our sister brands that also have an impact on the Australian property landscape.
CBA CEO acknowledges turnaround time disparity
The chief executive of the big four bank has acknowledged that “time to yes” between direct and broker channels is markedly different, which he suggested was partly due to high volumes.
NAB turnarounds range from 1-20 days, says CEO
Ross McEwan has confirmed that turnarounds differ depending on complexity and channel, with the direct channel able to approve “simple” loans in less than a day, while broker channel is taking around 12 days.
Westpac pledges to improve turnaround times
The bank’s CEO attributed longer loan approval times to moving processing roles offshore in 2020 and responsible lending checks and balances, adding that it is looking to improve the process.
ANZ broker turnarounds at 12 days: CEO
The major bank CEO has also now confirmed that “time to yes” is different depending on channel, outlining that it takes between 10-12 days in the broker channel but can be as low as an hour when direct.
Bank eyes broker channel as it revamps
A non-major bank has undergone a digital overhaul as it prepares to be acquired by Challenger and potentially expand into the third-party channel.
Tom Panos has issued his own warning to agents who may be engaging in the illegal practice of underquoting.
House prices to add another 20% if banks don’t slam the brakes
Chatter about the possible introduction of macroprudential controls to slow house price growth is increasing, while reports suggest that restriction in neighbouring New Zealand could cut price growth by as much as 20 per cent.
Boutique network to make waves in WA
Success in other key lifestyle locations across Australia has led one network into the Western Australian real estate market for the first time – and it’s starting with the Kimberley region.
How to put your employees first – and why it’s so important to
A consultant has weighed in on the ways agency leaders can ensure they are getting the best out of their business – and puts staff as the number one priority. Here’s what you need to know.
Aussies increasingly fearful of property boom
While consumer confidence is at an 11-year high, Aussies are becoming increasingly fearful of the property boom, with expectations of further price increases.
Is Queensland’s property market finally outpacing NSW?
Queensland has become the state to watch when it comes to property, following its strong response to the COVID crisis and consequent uptick in interstate migration.
RBA admits ‘optimistic borrowers’ could boost risk in housing market
The Reserve Bank of Australia has issued a caution, noting that optimistic borrowers could lead to a deterioration in the quality of lending, increasing the risk in the housing market.
[Related: Hot Property: The biggest property headlines from the week 5-9 April]
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