For years the bank of Mum and Dad (BOMD) has been touted in the media as one of Australia’s largest lenders. A whole generation of parents has been reportedly dishing out a seemingly bottomless pool of funds to help frustrated first-home buyers get on the property ladder amidst skyrocketing real estate prices. However, that is…
The average Aussie says they would need to earn a far higher salary than the average wage to feel rich, according to research from Finder. Their survey found Australians wouldn’t consider themselves affluent until they were earning at least $500,000. The average Australian said they would need to earn a salary of $326,900 per annum…
Australia’s property market is off to a strong start for 2022, despite concerns about a cash rate increase and the continuing Covid-19 Omicron outbreak. Buyers wasted no time looking for their next property investment or home, with search volumes and views per listing hitting record highs throughout January, according to the latest PropTrack report. The…
January labour market data was stronger than expected despite the disruptions caused by the Omicron variant. Employment rose +13,000, unemployment was unchanged at 4.2%, and the participation rate rose to 66.2% (from 66.1%). However, instead of impacting the unemployment rate, the impact from the Omicron variant was concentrated in hours worked, which fell 8.8% month…
The economic fallout of the Covid-19 pandemic saw mass job losses and plummeting incomes — but it was an entirely different story for Australia’s billionaires. While 99% of people across the world are financially worse off since the virus began, Australian billionaires “have had a terrific pandemic” with their wealth rocketing over the past two…
We know that Brisbane will be hosting the 2032 Olympics which made me wonder… How much does it cost to host the Olympics? Over the years, the final price tag has varied greatly from city to city. Visual Capitalist looked at the estimated cost of hosting the games (both summer and winter) since 1998. The…
How did the global pandemic affect our financial positions? The latest research from Toluna’s Global Consumer Barometer surveyed 1,060 respondents in Australia between 4th-8th January 2022, and discovered some interesting results. At the core, women and young people are shown to be the most affected groups in Australia. KEY FINDINGS The key findings show that…
How do you feel about the prospects for our property markets moving forward? It seems consumers are becoming less bullish on the outlook for house prices. The Westpac Melbourne Institute House Price Expectations Index fell 8.3% to 143.4 over the 3 months to January, hitting its lowest level since Nov 2020. Growing expectations of interest…
Have you been spending more, or are you stashing your cash? All the banks are carefully tracking consumer spending to gauge consumer sentiment. ANZ-observed spending data shows some recovery in spending in the second half of January amidst a fall in COVID cases, though spending is still suppressed. Total ANZ-observed spending was only up 0.9%…
How do you feel about your financial future? Each year, the Edelman Trust Barometer report helps gauge the level of trust people place in various systems of power. The report is also a useful tool to gauge the general mood in countries around the world. And when it comes to how people in developed economies feel…
