As we enter a calmer real estate market after 30% plus growth in values over the past two years, it’s interesting to see property hailed as the top reason for increasing our household wealth. According to the Australian Bureau of Statistics (ABS), individual wealth stands at a record $574,807. Residential property had contributed 1.4% to…
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If you’ve been shocked at the increase in the cost of gas and electricity lately, you’re not alone. Utility prices are on the march along with fuel and food, all of which are feeding an inflation rate that has prompted the Reserve Bank of Australia to hike its target cash rate to 0.85% and increase…
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With inflation capturing many of the headlines at the moment, it’s not a crazy idea to assess the insurance coverage for your home. The rising price of materials for construction and the availability of labour have combined to push the cost of renovation, maintenance and replacement much higher. Leading industry researcher CoreLogic says construction costs…
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As the market mood changes, sellers will be well-served by paying additional attention to the quality of the marketing campaign for their property. A campaign targeted to prospective buyers for your area can earn you tens of thousands of dollars more for your property than a half-hearted or cut-price effort that fails to capture the…
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Inflation and interest rises are changing the real estate landscape after one of Australia’s strongest-ever growth eras, in which values increased an average of 35% in two years. Buyers’ so-called “Fear of Missing Out” (FOMO) has gone now, and industry researcher CoreLogic is reporting mild value falls for houses and apartments nationally. While its analysis…
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The Great Australian Dream of owning your own house or apartment seems to be shrinking, at least in the size of its ambition. The total square meterage of both houses and apartments has decreased while blocks continue to offer less space, according to the latest Australian Bureau of Statistics (ABS) data. For first-time buyers, this…
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Nine of the 13 main industry sectors reported month-on-month increases in revenue in April, according to the latest data from the Australian Bureau of Statistics (ABS). Even more encouragingly, all but one of the sectors reported year-on-year increases. These sectors enjoyed both monthly and annual growth: Accommodation & food services Administrative & support services Arts…
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The Australian Taxation Office (ATO) has advised businesses to update their payroll and accounting systems, with two big superannuation changes due to take effect on 1 July 2022. First, more employees will be eligible for the super guarantee. That’s because the $450-per-month eligibility threshold will disappear in the new financial year. However, your business won’t…
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There’s been a big jump in workers heading back to CBD offices, in a further sign the economy is returning to normal. According to the Property Council of Australia’s latest monthly office occupancy survey, which measures occupancy rates in CBD offices, all the major capital cities made gains between February and May: Sydney = occupancy…
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Employees on the national minimum wage will receive a 5.2% pay increase from July 1, following a decision by the Fair Work Commission’s expert review panel. The new national minimum wage will be $21.38 per hour or $812.60 per week. Several employer bodies proposed an increase of between 2.5% and 3%; the Australian Council of…
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