In a move aimed at assisting borrowers trapped in mortgage difficulties, the Westpac Group has announced a reduction in stress test requirements for certain refinance applications. Traditionally, banks subject borrowers to stress tests to ensure they can comfortably afford mortgage repayments even if interest rates increase by 3 percentage points above the applied rate. However,…
Overseas interest in Aussie properties has surged to record levels as migration hit its highest point in three years, according to the latest PropTrack Overseas Search Report. During the last quarter, the number of searches conducted from abroad for purchasing and renting properties on realestate.com.au reached an all-time high, surpassing previous records set since PropTrack’s…
In recent years, there has been a growing trend of Australians taking on multiple jobs to make ends meet. Whether it’s to make ends meet, pay off debts, or simply to save for a rainy day, more and more Australians are finding themselves working multiple jobs to achieve their financial goals. In fact, in his…
Another senior economist has changed their view on the housing market. One by one they are upgrading their property forecasts and agreeing that our housing market won’t crash like they had previously forecast. Recently ANZ’s economists amended their more pessimistic outlook and now expect capital city housing prices to end this year unchanged before a…
The current workforce shortage in many industries has left employers struggling to find workers to fill their open positions. While some may attribute this to a lack of motivation or work ethic among younger generations, the reality is that there are significant demographic shifts at play. In his article in The New Daily, demographer Simon…
Of all people experiencing homelessness on Census night, nearly two in five (39%) were living in ‘severely’ crowded homes. The latest data from ABS revealed that 122,494 people were estimated to be experiencing homelessness at the time of the 2021 Census, an increase of 6,067 people (5.2%) since 2016. The rate of homelessness decreased to 48…
According to the latest data from the Australian Bureau of Statistics (ABS), international travel made a robust comeback in 2022, providing a significant boost to an industry severely impacted by the pandemic. The ABS report indicated that over 19 million arrivals and departures were documented throughout the year. Jenny Dobak, Head of Migration Statistics at…
Australia’s population is booming, with migration levels exceeding the peak of the mining boom. And there are some regions in particular where popularity is surging. Commbank and the Regional Australia Institute’s latest Regional Movers Index shows that there are 5 Australian regions where migration has exploded… by more than 200%. Sea and tree-change shift is…
The holiday season is often associated with joy and cheer, but it can also bring a significant increase in household spending. In fact, according to the latest data from ABS, household spending rose 17.8 per cent in January compared to the same time last year. Robert Ewing, ABS head of business indicators, said: “Household spending…
A lot of predictions have been made about our property market. With its highs and lows, many are wondering whether it will ever bounce back. Well, social commentator Bernard Salt recently said at the AltX platform event that property owners and investors should feel optimistic about the future of property in Australia. And here…
