Australia’s unemployment rate plummeted to 3.5% in June, the lowest rate in 48 years. The Australian Bureau of Statistics revealed 88,000 more people were employed in June and unemployment fell by 54,000, pushing the unemployment rate down by 0.4% As a result, there were almost the same number of unemployed people in June 2022 (494,000…
First home buyers in New South Wales will be able to avoid paying stamp duty when they buy a property from January 16 next year, under a new government plan. Instead of paying the lump sum, eligible first home buyers purchasing properties for up to $1.5 million will be able to choose to pay an…
Australia’s staffing shortage crisis has worsened with almost a half a million jobs available meaning the number of vacant positions now nearly equal to the number of unemployed. Job vacancies surged again in the three months to May to be up 13.8% quarter on quarter and are more than double their pre-pandemic levels (+111% on…
![Top 10 least affordable housing markets in the world [Infographic]](https://cdn.propertyupdate.com.au/wp-content/uploads/2022/04/aus-housing-market-270x200.jpg)
Wondering where in the world has the least affordable housing market? Obviously, the cost of a home varies greatly depending on where you live. And as Australia is one of the most desirable places in the world to live, it’s not surprising we’re amongst the most expensive Here’s a look at 10 of the most…
What a week! The RBA’s Governor Lowe appeared on the ABC’s The 730 Report and said inflation will likely get to 7% by the end of the year. He also explained that headline inflation is now expected to reach 7% and that it was reasonable to expect the cash rate would get to 2.5% at…
There’s been a lot of talk about housing affordability recently, hasn’t there? Well, there are some surprising findings in the recent Australian Bureau of Statistics (ABS) biennial publication “Housing Occupancy and Costs” for the 2019/20 financial year. According to the ABS housing affordability for homeowners paying off a mortgage has improved to its best level…
Our economy is showing signs of strength as SEEK’s new job ads rose 2.1% month on month in May, further extending its record highs for the 5th consecutive month. Overall, job ads are 76.1% higher than pre-pandemic levels, indicating labour demand remains elevated even with a record of low unemployment rate. For this month, job…
While a lot is written and discussed about what is currently happening to our property markets and what’s going to happen in the future, have you ever wondered what’s happened over the last 30 years? Well..to celebrate Aussie’s 30th anniversary, they looked at 30 years of property trends between December 1991 and December 2021. Data…
Australia’s property market has shown signs of easing as the current cycle of strong growth and heightened buy demand begins to wind down, according to the latest PropTrack Housing Market Indicators report. Easter and Anzac’s long weekends, combined with the ongoing federal election campaign and the threat of interest rate rises in April disrupted the…
Another sign of the strength of our economy is that SEEK’s new job ads rose 2.9% month on month in April, further extending record highs in a 4th consecutive month of growth. Overall, job ads are an incredible 74.1% higher than pre-pandemic levels, indicating labour demand remains elevated even as employment has more than recovered…
