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…
The stage is set for the RBA to leave the cash rate on hold next week, despite a rise to Australia’s annual inflation rate from 3.6 per cent to 3.8 per cent. While this is the first rise in annual inflation since December 2022, the result is in line with the RBA’s own forecasts, keeping…
Millions of Australians are hiding money away in bank accounts unknown to their family or partner, according to new research by Finder. The survey of 1,012 respondents revealed more than 1 in 10 (12%) – equivalent to 2.5 million people – currently have, or have had, a secret savings account. The research found 8% –…
What jobs in Australia pay really well? Well, the Australian Taxation Office (ATO) has just revealed the highest-paid jobs in the country, and once again, surgeons have claimed the top spot, earning an impressive average of $460,356. According to an article from Yahoo Finance, this figure only accounts for 4,170 workers in the country, but…
Foreign buyers are back in force with activity climbing 27%, according to the latest Foreign Buyer report. The Treasury has just released its latest data, detailing the activity of non-resident property purchasers across Australia for FY2022–23. Foreign buyers spent $4.9 billion on 5,360 properties which is a substantial rise from the previous year. Alongside a…
Can you identify a tax scam? Well, new research reveals that almost a third of Australians fail to spot tax scams. CBA report that when multiple tax phishing scams were tested on Australians over the age of 18, only 69% could successfully identify all of them. Interestingly, nine out of ten believed they were confident…
