What are your plans for the upcoming Easter holiday? Apparently over four million Australians are planning a trip away this Easter with $7.1 billion to be spent on holidays. While around $1.5 billion will be splurged on food and chocolate, a major boon for tourism operators and retail businesses. Research released by the Australian Retailers…
Addressing the critical undersupply of rental properties must be a key policy of whoever wins the upcoming Federal Election according to the Property Investment Professionals of Australia (PIPA). Residential rental vacancy rates have hit 16-year record lows due to investor activity being well below average over the past five years in particular, according to new…
Australian households are wealthier than ever. Australia’s property prices increased at a record pace in 2021 with recent data showing that the national median house price surged 25.7% and units by 7.7% year on year. And it was this price surge, combined with solid share market gains, which has pushed total Aussie household wealth up…
Since the coronavirus pandemic hit our shores, Australia’s property market has grown at an unprecedented rate. Closed borders, economic stimulus and low mortgage rates have driven demand for property sky high, pushing prices out of reach in many suburbs across the country. As lockdowns continued and the work-from-home trend became more permanent, many people flocked…
Mortgage rates are on the rise in Australia as funding costs and speculation about an impending RBA cash rate rise in the next few months puts pressure on banks. While there was no change in the cash rate at yesterday’s RBA meeting for April, rate hikes are coming. The big four bank economists have forecast…
New research from Canstar reveals that 11 million Australian adults are worried they will be unable to afford household bills amid skyrocketing living costs. Housing costs including rent or mortgage repayments were cited as the biggest concern. And 72% of borrowers will need to forgo certain expenses to afford higher loan repayments. The effects of…
The Covid-19 pandemic, lockdowns, and ongoing restrictions have seen Australians reevaluate what they want from their home. The sea- or tree-change shift shows people have refocused their attention on what is around them, with buyers increasingly venturing out of their usual neighbourhoods and suburbs to regional Australia in search of a different lifestyle. Because home…
New housing loan approvals fell 3.7% in February compared to the previous month. Both owner-occupiers loans (-4.7% month on /month) and investors loans (-1.8% month on month) fell – but this is not surprising considering the slowing down in the housing market. Despite the fall, the level of housing finance approvals are still 69% above pre-pandemic February 2020…
New research from Commonwealth Bank and Deloitte reveals that financial abuse costs victims, and the Australian economy, more than $10 billion per year. The staggering research found that over 380,000 women and 240,000 men were subjected to financial abuse by a former or current partner in 2020. That is 1 in 30 women and 1…
Australia’s property market delivered enormous growth during 2021 and with the peak of the market predicted to be in sight, there will likely be many homeowners out there wanting to sell before property prices take their predicted plunge (which by the way…I don’t think will happen the way people are predicting.) Once you’ve made the…
