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Meet the Sponge Society: More parents pay for adult children

Are your children sponging off you? A new survey shows that the majority of parents provide financial support to their adult children, and warns that it may be teaching them bad money habits. A ‘sponge society’ of adult children receiving financial assistance from their parents is alive and thriving across Australia, according to a new investigation into the…

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Tightening, clamping crunching – what’s really going on in the property market

Headlines over the past few weeks have used words such as tightening, clamping and crunching when talking about the housing market and its affiliate institutions. While a bearish approach to property is expected as we enter a downswing in the market cycle, further context and data are needed for a more grounded perspective. Table 1…

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Colder weather sees no bearing on Melbourne’s auction results

The remarkably consistent Melbourne weekend auction market ended autumn on a high note, recording its highest clearance rate since April 16 – seven weekends ago. The Melbourne market reported a clearance rate of 75.2 per cent on Saturday, which was higher than the 73.8 per cent recorded over the previous weekend but below the 82.8…

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Last weekend of Autumn brings a chill to the Sydney auction market

Sydney’s weekend auction market ended with a sharp fall in clearance rates following the exceptional results recorded over the previous fortnight. The Sydney market recorded a clearance rate of 72.8 per cent on Saturday a far cry from the remarkable 80.3 per cent rate recorded two weeks ago. Sydney hosted higher numbers of auctions on…

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