Aussies seem to be continuing to put their credit card spending on hold. In fact, new data from the RBA reveals that Australia’s total credit card debt has dropped for the third month in a row, this time by $88.1 million. The drop in this month’s figures is, at least partially, due to individuals using…
Believe it or not – nine out of ten landlords have been doing their tax returns wrong! Rental income was being left out of returns and mistakes were being made with property deductions, including over claiming expenses or claiming for improvements to private properties, a review by the Australian Taxation Office (ATO) found. This has…
New data reveals that in August, fewer people refinanced their loans compared to the previous month, but it was still the fourth-highest number since rates started going up. This dip was expected because many people rushed to refinance before some banks ended their cashback offers. Since rates began rising, borrowers have refinanced loans worth almost…
With our markets on the move and a new property cycle now upon us, it’s becoming apparent that more and more investors are looking for the next property “hotspot.” The problem is, hot-spotting is about short-term speculation, not long-term wealth creation. Most property investors are trying to build their asset base so that one day…
The unprecedented property boom of 2021 saw the price gap between Australia’s houses and units tighten to just 9.6%, but now the tide is shifting, and that price gap is widening once again. In September 2021, the national median house price was $570,000, 9.6% higher than the median unit price of $520,000, REA explains. But…
Three of the big banks, CBA, Westpac and ANZ, believe the cash rate has already peaked at 4.10 per cent, with only NAB expecting one more hike later this year. CBA, Westpac and NAB economic teams updated their cash rate forecasts on the back of yesterday’s RBA Board meeting, with changes to both the expected…
Finder’s monthly survey of the nation’s experts found they are predicting another cash rate hold in August following lower-than-expected inflation figures. In this month’s Finder RBA Cash Rate Survey™, 43 experts and economists weighed in on future cash rate moves and other issues relating to the state of the economy. The majority of panellists (29/43,…
The chance of another rate rise when the Reserve Bank meets in less than two weeks is looking increasingly likely. The unemployment rate remained at 3.5 per cent in June (seasonally adjusted), in line with the updated figure for May, according to the latest data released by the Australian Bureau of Statistics (ABS). Their latest…
Whether or not you personally give any weight to superstitions, it may pay to consider them if you are buying or selling a property. Generally speaking, westerners are not overly superstitious and males less so than females, but we do live in a multicultural society. Many immigrants bring their traditions and superstitions with them and…
Australians continue to face the pressures of higher costs of living, particularly with credit card spending. In fact, Australia’s total credit card bill has climbed for the second month in a row to $17.77 billion as households reach for the plastic to make ends meet in the face of rising costs. The latest RBA statistics…
