When was the last time you calculated your net worth? In my mind, it’s an important part of building your wealth, because without knowing your net wealth position it’s a bit like steering a ship without a compass. You don’t really know where you are along the journey. Calculating your net worth is like taking…
If you’re feeling the pinch of the cost of living crisis, you’re not alone. New analysis reveals that the average Australian now needs to earn $107,730 a year just to maintain the same standard of living they had a few years ago. This is a significant jump from the $90,000 salary that was once considered…
The total value of new housing loans rose 3.9 per cent in July to $30.6 billion, according to data released by the Australian Bureau of Statistics. The value of new investor loans rose 5.4 per cent to $11.7 billion, which was 35.4 per cent higher than July 2023. The value of owner-occupier loans rose 2.9…
The Australian Bureau of Statistics has released the July monthly Consumer Price Index (CPI) data. The monthly CPI indicator was 3.5% in the 12 months to July 2024, falling from 3.8% in June, the second monthly drop in a row. This is the lowest result since March 2024. The most significant price rises were Housing…
While being a property investor might see you forced to pay a number of unforeseen bills each month, there are several tax breaks for investment properties that can significantly boost your financial returns. I’ve been an investment property owner for many years now, and I’ve been slugged with just about every property expense that you…
Foreign cash flowing into Australian homes has surged by an additional $400 million, according to new figures, solidifying Queensland as the new hot spot for overseas investors. Data from the Foreign Investment Review Board (FIRB) for the October to December 2023 quarter shows 1,580 residential real estate investment proposals worth $1.9 billion were approved. The…
Australians are going without everything from prosecco to private health insurance as cost of living pressures persist, according to new research by Finder. Their survey of 1,012 respondents revealed more than 1 in 2 (54%) – equivalent to more than 11 million people – admit the cost of living has had a negative impact on…
Australia, along with the rest of the world, is on the cusp of the largest intergenerational wealth transfer in history. Termed as the “great wealth transfer,” we’re looking at an eye-watering US$68 trillion (A$100.2 trillion) moving hands globally over the next 20-30 years. This shift, predominantly from the baby boomer generation, is not just significant…
The average new owner-occupier mortgage in Australia is now $636,597 – a new record high that is set to keep on rising alongside property prices in key states. Over the last 12 months, the national average has risen by $56,357, an increase of $154 a day, despite the fact the cash rate is at its…
Money in the bank from households has fallen for the first time in a year, recording a sizable $11.5 billion drop in just one month. This is just the second drop in household deposits since the start of the rate hikes, according to the latest APRA monthly banking statistics for June 2024. That said, money…
