Digital Finance Analytics (DFA) Blog
"Intelligent Insight"
The HIA New Home Sales report for March shows that across the state’s New South Wales (4.8 per cent), South Australia (8.6 per cent) and Western Australia (2.3 per cent) all experienced an increase in new home sales compared to the previous month. Queensland experience a decrease of 4.7 per cent and Victoria was down … Continue reading “HIA Says New Home Sales Show Signs of Stabilising”
NAB reported their IH2019 results today. The statutory net profit in 1H19 was $2,694 million dollars, which is 9.3% lower compared with the 2H18, but 4.3% higher than 1H18. Significantly they dropped the dividend to 83 cents per share, a drop of 16.2% compared with 1H18 – this was more than was anticipated by the … Continue reading “NAB 1H19 Cuts Dividend, Mortgage Arrears Rise”
The Fed held their rate (some were expecting a cut), and as a result, markets eased back, while bond yields rose. They underscored the patient approach ahead, but also a willingness to look though low inflation in the nearer term. The Board of Governors of the Federal Reserve System voted unanimously to set the interest … Continue reading “Fed Holds, Cuts Unlikely”
From the ABC. On Radio Nation PM Programme this evening. It was just weeks ago that mention of rising mortgage defaults was met with some sniggers and jeers, with many in the industry pointing to what are still actually very low rates of arrears overall. So you can imagine the surprise when the boss of … Continue reading “ANZ Raises Concerns About Mortgage Stress”
ANZ reported their 1H19 results today. Their “shrink to greatness strategy” did work to an extent, but their results were flattered by higher than expected Institutional performance, which offset the pressure on the Australian retail bank from lower mortgage growth and margins, and higher customer remediation costs. They are well capitalised, which is a good … Continue reading “ANZ 1H19 Result Points To Subdued Credit Growth, Intense Competition And Increased Compliance Costs”
Westpac has provided an update on accounting provisions for remediation associated with authorised representatives in relation to certain ongoing advice service fees. This follows the group’s 25 March 2019 ASX announcement on remediation provisions, where it announced an increase in provisions for its salaried planners and indicated that assessments were underway in relation to authorised … Continue reading “Westpac Reveals $357m Profit Hit Over Advice Fees”
Property Expert Joe Wilkes and I discuss the issues arising from falling home prices, and Joe walks through the latest Auckland data. As prices continue to fall, “a bargain” simply does not exist!
APRA has identified a number of areas where superannuation providers are falling short of their regulatory obligations, particularly when it comes to managing conflicts of interest, via Investor Daily. A review of APRA’s 2013 superannuation prudential framework has found it met its original objectives but must keep evolving to ensure members’ interests are protected. APRA … Continue reading “APRA Report Identifies Superannuation Failings”
On the last working day of each month the RBA releases their Credit Aggregates and APRA their Monthly Banking Statistics for ADS‘s. Both are now out for March. The headline news is the overall housing credit is up, to a new record of $1.82 trillion dollars up 0.31% from last month, or 0.31%. Within that … Continue reading “Weaker Credit Impulse Signals More Home Price Falls, Despite New Record Debt”
Domain has released their March quarter 2019 house price data. Sydney, Melbourne and Perth are bearing the brunt of the falls, alongside units in Brisbane, according to their statistics. Hobart remains the most buoyant but buyer interest appears to have passed its peak . And of course remember these are average figures which mask local … Continue reading “Domain Reports More Price Falls”