Treasurer Jim Chalmers has delivered his second budget with a heavy focus on cost-of-living relief for Australians who are struggling due to persistently high inflation and rising interest rates. While Chalmers says the economy should continue to create jobs and unemployment is expected to remain historically low, inflation remains the top economic concern. Chalmers says…
After witnessing record gains in wealth, ultra-high-net-worth individuals (UHNWIs) lost a combined $10 trillion last year. A lagging stock market dented these fortunes against high-interest rates, energy shocks, and economic uncertainty. But some of the world’s billionaires have flourished in this environment, posting sky-high revenues in spite of inflationary pressures. With data from Forbes Real-Time…
Does the type of lease agreement impact insurance cover? Yes, it can do! We explain… But first, let’s delve into the differences between the two main types of lease agreements – fixed-term and periodic. Fixed-term tenancies A fixed-term tenancy has a specific start and finish date. Once the fixed-term ends, you and your tenant can…
The Australian Competition and Consumer Commission’s latest Targeting Scams report indicates Australians reported more than A$3 billion lost to fraud in 2022. This is about a $1 billion increase in reported losses from 2021. Year after year, we’re witnessing a rise in monetary losses to fraud. Behind these figures sit millions of Australians who experience…
The idea of the 15-minute city, according to its originator Carlos Moreno, is that people are no more than a 15-minute walk or bike ride away from all the services they need to live, learn and thrive. The idea is appealing in its simplicity: it puts people and the environment at the centre of urban…
![Which countries believe WWIII is coming? [Infographic]](https://cdn.propertyupdate.com.au/wp-content/uploads/2020/08/second-world-war-270x200.jpg)
After a pandemic, rampant inflation, a faltering global economy, and geopolitical flare-ups, it’s no surprise that people have a souring outlook on the future. Even so, the results of this recent survey by Ipsos are eyebrow-raising. In all 33 countries where polling took place, most respondents said a world war on the scale of WWI…
The review into the Reserve Bank of Australia has just been published by Treasurer Jim Chalmers, and it’s a blockbuster. The review has made 51 recommendations including: taking away power over interest rates from the Reserve Bank board (which has traditionally been dominated by non-economists, usually corporate executives) and devolving it to a panel of…
So, you think you know why rents climbed. You probably think was skyrocketing interest rates and a tsunami of migration. It’s true that interest rates have jumped more over the past year than at any time on record, and it’s true that migration has roared back – in the six months to September 2022 (the…
No one likes spending cuts and tax hikes, but on our estimate, the government will soon need more of them if they are going to make a dent in looming A$70 billion a year budget deficits. A new Grattan Institute report, Back in Black? A menu of measures to repair the budget argues the present…
Last week, the Australian published a story saying net-overseas migration would reach 650,000 over the two financial years, 2022-23 and 2023-24. As the story included comments from Treasurer Jim Chalmers and Treasury Secretary Steven Kennedy, we can assume these numbers will appear in the population statement accompanying the May budget. The new numbers have attracted…
