Housing market downturn deepens as demand headwinds build

Cotality says its national HVI fell -0.4% in June. Capital city values dropped -1.3% in the quarter, led by Sydney (-3.2%) and Melbourne (-2.6%). Adelaide unchanged; Brisbane and Perth rose. Auction clearance rates fell below 50%

The fluid struggles to win mortgage business

In the home loan market, Macbank wins again in May, Commbank holds its position, ANZ wins back some lost positions, but NAB and Westpac shed some share

Today's changes to interest rates

Here are the changes the main banks have made to retail interest rates on Wednesday, July 1, 2026

Breakfast briefing: Hormuz will never be the same

US data mixed; Canada grows; China marks time; German inflation eases; eyes on yen; Rocket Lab expands; air cargo activity declines; UST 10yr at 4.43%; gold holds and oil down even as Hormuz quiet; AU$1 = 69.2 USc

Who gains in an AI-supercharged economy?

Joseph Davis expects AI technology to resemble electricity, benefiting the users more than the providers

China's failed rebalancing

Stephen Roach laments that the Chinese government has paid little more than lip service to its greatest macroeconomic challenge

ACCC to monitor supermarket compliance with new excessive pricing prohibition

The competition regulator has been armed with new powers to monitor the pricing policies of the Coles and Woolworths supermarket chains. What is being prohibited is "excessive pricing"

The CPI rose 4.0% in the year to May

A 6.5% rise in housing costs drove the May CPI 4.0% inflation rate, not fuel or food. The overall trimmed mean was up 3.6%, a rise from April

ASIC lifts hood on car finance costs and distribution concerns

Consumers exposed to harm from loan brokers and car dealers in the way vehicle loans are distributed by some of the industry's largest brands

Housing markets are facing into a more challenging and uncertain outlook

Westpac assesses what is ahead for the residential real estate sector, seeing a sharp and sustained pull-back from mid-2026, already slowing from interest rate hikes

$35 million penalty sought as HSBC admits to scam protection failures, and implements compensation plan

HSBC has admitted to serious failures in protecting customers from scams that cost some tens of thousands of dollars, including their life savings

Travel and events lift May spending, but mortgage holders hit the brakes

The latest Commbank household spending insights shows May spending got a boost from travel and events, but CBA economists expect spending slowdown to continue.

RBA holds fire in latest review

As widely expected, the RBA has made no change to its 4.35% cash rate target after the three previous rate hikes. Uncertainty on inflation direction is high as fuel costs are expected to retreat soon

The hidden cost of being the financially capable one

Lynda Moore says that whether at home, work, or with friends, if you are seen as 'the one best with money', this skill needs to come with boundaries and balance

Adoption of EVs a bright spot in a tepid new passenger car market

The new car market fell -1.2% in May from a year ago, bolstered by strong demand for EVs within that decline. ICE is out

Fair Work Commission OKs a 4.75% hike to the National Minimum Wage

The minimum wage to rise to over $1000 per week on July 1, after the Fair Work Commission agrees the biggest rise since 20203

'Grossly negligent' Westpac cops $26 mln penalty

After paying $1.7 mln in remediation to customers who did not get proper responses for their financial hardship claims, judge adds $26 mln civil penalty for the failures