Household wealth rose for the fifth straight quarter (+2.8 per cent or $419 billion) in the December quarter of 2023, according to the latest figures released by the Australian Bureau of Statistics (ABS). Total household wealth was $15.7 trillion in the December quarter, which was 7.8 per cent ($1.1 trillion) higher than a year ago. Residential land…
Recently the NAB released a summary of recent business statistics, from interest rates to inflation to business confidence, and had a look at the key numbers affecting Australia’s economy. Here’s what they had to say: First rate cut forecast for November The cash rate remains at 4.35% for now with little chance of further hikes,…
Money in the bank from households continues to climb with APRA’s latest data showing Australians collectively stockpiled an additional $6.17 billion in the month of February. This takes the total value of household deposits to a new record high of $1.46 trillion. APRA’s monthly banking statistics released today also show that since the start of…
The latest RBA cash rate announcement came as no surprise, keeping the cash rate on hold at 4.35%, with most economists agreeing the next move on rates will be down. What does this mean for borrowers? Well, borrowers could be thousands of dollars better off with substantial savings forecast for loan repayments over the next…
In an increasingly digital world, the frequency and sophistication of financial scams have escalated, posing a significant threat to unwary Australians. The government projects that scams cost Australians $3.1 billion per year. So let’s dissect the common tactics used by scammers and look at a few strategies to avoid falling prey to these schemes. What…
In 2023, the Australian property market witnessed a distinctive shift, as homeowners and investors navigated the changing financial landscape. According to PEXA’s latest Mortgage Insights Report, the total amount borrowed for property purchases across Australia was $300.9 billion, marking a 12.7% decrease from the previous year. This trend reflects the dual impact of rising interest…
What’s happened to your salary recently? Has it gone up? The average Australian salary is $1,888.80 per week or $98,217.60 annually, according to the latest data provided by the Australian Bureau of Statistics. This represents an increase of 4.5% year-on-year and you won’t be surprised to find out mining remains the highest-paying sector with an average salary of $2,951.80…
How are you with your credit card payments? Well, according to new research from Finder, an alarming number of Australians are falling behind on their credit card repayments. In fact, based on Finder’s Credit Card Report 2024, 1 in 8 (13%) Australian credit card holders – equivalent to almost 1.8 million people – have missed…
Is money an important factor for a lasting relationship? Well, according to Finder’s latest research, millions of Australians have been dumped by a romantic partner due to their financial situation. The survey of 1,096 respondents revealed that 1 in 6 Australians (16%) – equivalent to 3.2 million people – have been through a break-up due…
What are the best and worst things about living in Australia? Immigration to Australia commissioned a survey to find out what Australians think are the five best and worst things that immigrants experience in Australia Not surprisingly soaring property prices and rent were a significant concern, with over 80% of Australians citing this as a…
