Wesptac Bank has recently upgraded its forecast for our housing market. Westpac now expects prices to rise 7% nationally in 2023 but the pace is expected to slow in 2024 as affordability becomes extremely stretched. Now that’s a turnaround because in April this year Westpac had forecast prices to track flat overall nationally this year, followed…
Australia’s home price recovery has hit a milestone, with national property prices now higher than a year ago according to the latest Proptrack Home Price Index Despite the sharp reduction in borrowing capacities that accompanied the 12 interest rises home prices have reversed much of 2022’s falls according to Eleanor Creagh, Senior Economist at Proptrack, Creagh explains…
The gap between the interest rates being paid by existing and new borrowers is narrowing Existing bank customers are starting to be rewarded for their loyalty with home loan rate discounts that could save borrowers over $1,000 in the first year alone, according to new insights from Canstar. Canstar’s analysis of Reserve Bank lenders’ Interest…
Rich Chinese property investors are eyeing up Australia, with over 700,000 expected to migrate overseas in the next 2 years. The latest ranking from Juwai IQI shows that Australia ranks number one as the top overseas destination for Chinese property hunters. Australia comes ahead of all other global markets, including Canada, the UK, and the…
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…
The Reserve Bank has left the cash rate at 4.10 per cent, announcing a pause for the second meeting in a row, and third time this year. The key explanation was a desire to take more time to assess the impact of the increase in rates to date and the economic outlook. The Board also…
More Australians are currently saving for a major expense or purchase than they were last year, according to new research from Canstar. Their survey of over 9,500 Australian adults found 71% were currently saving for a big purchase or expense. This is an increase from 66% last year and comes at a time when the…
Good news on the global inflation front has continued to flow down under and inflation looks set to continue to moderate and move lower into the first half of 2024. The high level of inflation that has challenged the Australian economy and seen interest rates rise at the fastest pace in a generation continued to…
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,…
Over the June quarter, combined capital house prices rose almost four times faster than the previous quarter to produce the steepest gain since late 2021, and have now recouped roughly half of the value lost in the 2022 downturn according to the latest Domain House Price Report All capital cities saw house prices rise over…
