The latest Master Builders of Australia survey for the December 2014 quarter shows builders' hiring expectations rose in December to their highest level in seven years to pre-GFC levels. The construction industry is particularly benefiting from rising demand for housing in New South Wales, with an additional 65,400 jobs created in the state's building and construction sector in the 12 months to November 2014.

A Queensland-based lender, Wide Bay Australia Limited (Wide Bay), will improve its responsible lending practices following ASIC concerns with the way the group was assessing its customers’ suitability for home loans. The firm has been targeted as part of ASIC's wider focus on the lending industry’s compliance with responsible lending laws.

The gap in Australia’s housing market widened in January with Melbourne and Sydney fuelling a 1.3 per cent rise in capital city prices while values fell in Brisbane, Adelaide and Perth.