One of the great surprises of the pandemic has been the resilience of commercial office rentals with new data from the Property Council of Australia showing demand is increasing. While the national office vacancy rate rose from 11.9% to 12.1% during the six months to January, it was due to an increase in supply rather…
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The latest data is busting the myths that COVID-19 had destroyed the commercial property market according to the Chief Economist at Ray White, Nerida Conisbee. Nerida says fears that commercial vacancy rates would skyrocket and lease incomes nosedive had been well and truly busted with even retail and commercial office space performing better than expected,…
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Business confidence has returned to the positive levels that it was at before COVID-19 struck, according to Roy Morgan. The Roy Morgan business confidence index was 101.5 in January 2022 which compares to 101.6 in January 2020, just before the pandemic started. The performance of the index charts the highs and lows of the pandemic,…
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Consumer spending has begun to rise as pandemic restrictions ease and Australians emerge from lockdowns. The latest data from the Australian Bureau of Statistics show both sales and profits are improving as consumers become more comfortable in crowds and start to get out and about again. Business turnover increased month-on-month in 12 of the 13…
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First Home Buyers can now use more of their superannuation to buy a home with new changes to the First Home Super Save Scheme introduced by the Federal Government. First-time buyers will now be able to increase their savings in the First Home Super Saver Scheme from $30,000 to $50,000, making it easier to save…
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Building and renovation costs continue to rise, making it more important than ever to budget accurately. Construction costs in Australia rose 7.3% in 2021, according to the latest Cordell Construction Cost Index. It’s the steepest rise since 2005 and a lot of the blame is being placed on the Covid pandemic. The index – owned…
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Demand for home loans continues to run at record levels, according to the latest ABS figures. New mortgage commitments were 4.4% higher in December, totalling $32.8 billion. These results were accompanied by a 5.3% rise in the value of home loans compared to November 2021. If you’re considering whether to refinance your existing property or…
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Selling your home in early 2022 could be the perfect time to maximise the value of your property and take advantage of record-low interest rates, says the Chief Economist at Ray White, Nerida Conisbee. With demand for property still powering ahead after a stunning 2021, Nerida believes you should act decisively if you’re thinking about…
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A home loan is likely to be the most significant personal financial commitment you’ll ever make, so it makes sense to use the experts. With so many mortgage alternatives on the market from banks, building societies and other non-bank lenders, it’s a challenge to find the product that’s ideal for you. Mortgage brokers offer their…
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Applying for your first mortgage can be nerve-wracking! The amount your lender offers you as a mortgage can make or break your ability to purchase your dream property in your ideal suburb. Your first goal must be to secure pre-approval. This is the conditional promise of a mortgage that allows you to make an offer…
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