A softening in real estate prices amid speculation of an imminent interest rate rise has caused property listings to fall according to Ray White Chief Economist, Nerida Conisbee. A total 11,000 fewer homes were for sale in the March quarter than in the corresponding period last year. “Sellers are no longer so keen to go…
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Industry experts are forecasting a slowdown in house sales and the number of properties coming onto the market across the six-week federal election campaign, in which housing affordability and rent prices are becoming hot topics. History shows Australians are usually reluctant to sell or rent during a campaign, but their confidence in the market remains…
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Supply chain problems and price increases caused by the pandemic have impacted most of our daily lives. We’re feeling the effects in many areas, but especially in the cost of our groceries and fuel. So, it shouldn’t be a surprise to discover that three-quarters of the companies surveyed by the Australian Bureau of Statistics (ABS)…
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Australians are buying 57 more vehicles each day compared to last year, according to the latest data from the Federal Chamber of Automotive Industries (FCAI). Overall, 85,340 vehicles were sold in February, a year-on-year increase of 1.6%, or 56.8 vehicles more every day. Toyota was the market leader in February 2022 with 20,886 vehicles sold.…
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Good news on the unemployment front keeps coming, demonstrating Australia’s economic resilience. The seasonally adjusted unemployment rate for February is just 4% – a fall of 0.2% on the January number, according to the Australian Bureau of Statistics (ABS). It’s the lowest figure since August 2008 and only the third time unemployment has been 4%…
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How the Federal Budget could impact your business Measures to ease cost-of-living pressures and increase economic confidence were centrepieces of an $8.6 billion spending program in the recent Federal Budget, handed down on the eve of the election campaign by Treasurer Josh Frydenberg. The big headline-grabbers were a 22.1c cut in fuel excise until September…
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First-home buyers have had a boost in the recent Federal Budget as housing affordability takes the spotlight in the upcoming election campaign. The Home Guarantee Scheme, which guarantees mortgages for first-time buyers and single parents, has been increased by 50,000 places and extended beyond its original June closure. The First Home Guarantee enables first-time buyers…
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One of the first and biggest decisions you need to make when you’re applying for a home loan is whether you want a fixed or variable interest rate. Your decision can depend on several factors, such as your financial goals, whether rates are predicted to rise or fall, and the purpose of your loan. With…
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Nobody is showing more confidence in the immediate future of property than investors. The latest data shows a 6.1% rise in the value of housing loans made to investors in January according to the Australian Bureau of Statistics (ABS). A total of $11 billion was loaned to investors – that’s a new record and the…
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The difference in the average price of a house and an apartment has never been bigger according to CoreLogic – but that situation may not last. This means that if you’ve been considering purchasing an apartment, now could be a good time to act. With three capital cities now boasting $1 million-plus average house prices,…
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