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…
The Consumer Price Index (CPI) rose 0.8 per cent in the June 2023 quarter and 6.0 per cent annually, according to the latest data from the Australian Bureau of Statistics (ABS). Michelle Marquardt, ABS head of prices statistics, said: “CPI inflation slowed in the June quarter, with the quarterly rise being the lowest since September…
What if Reserve Bank Governor Philip Lowe and his successor Michele Bullock were able to achieve something truly remarkable – a steady decline in inflation without further interest rate increases, and without bringing on a recession? It’s suddenly looking possible. Inflation is now coming down so quickly worldwide there’s probably no need to push it…
Australia’s next Reserve Bank governor, Michele Bullock – the first woman in the job – will take office in September at a time when much of the bank’s work in fighting inflation will be done and its focus will be on changing the way it operates. She is already the deputy governor, having been appointed…
There’s a lot of noise about building in the pipeline, and dwellings ‘under construction’, but of course many projects have been stalled, mothballed, or delayed, and every day there’s a news story about another developer or building firm facing insolvency (three more in the past two days). Overall, residential building activity, as measured in volume…
The pendulum is swinging in favour of tenants! The New South Wales government has appointed its first rental commissioner, Trina Jones, in an effort to “rebalance” the market and protect the rights of renters. Jones, the former chief executive of Homelessness Australia, is said to have a wealth of experience in the housing sector, and…
The RBA Board decided to hold interest rates steady at 4.1% in July to provide additional time to assess the outlook for the economy. In the Governor’s statement today, the RBA said: “further tightening of monetary policy may be required to ensure that inflation returns to target in a reasonable timeframe, but that will depend…
