Property investors- watch out – the Australian Taxation Office (ATO) is after you! The ATO will be compelling banks to hand over data for 1.7 million landlords in a bid to address the $1.3 billion tax revenue lost from residential investment properties. The ATO’s data-matching program will focus on individuals failing to declare rental income,…
In its Rent Report for the March quarter, Domain has emphasized that the rental market in Australia still heavily favours landlords, as tenants face challenging conditions due to increasing demand and limited supply in 2023. Dr Nicola Powell, Domain’s Chief of Research and Economics said: “Across the combined capitals, we’re now seeing the longest stretch…
The RBA Governor unveiled a tidy speech in Sydney, explaining why interest rates are on pause (and why rates will likely peak at a lower level in Australia than in some other countries). Domestic demand has already been hammered by the rate hikes delivered to date. Meanwhile, good prices are set to fall in Australia as…
The decision from the RBA to hold the cash rate at 3.6% sends a clear message they are ready to take stock, assessing the economic impact of the rapid rate hiking cycle to date. Considering monetary policy acts with a lag, it’s important to understand how trends in consumer prices, consumption, labour markets and sentiment…
Australia’s traditional peak property listing window is upon us. Every year during the first half of March – referred to as weeks nine to 11 on the calendar – there is a surge in listing activity. But not in 2023. Listings provide a useful real-time indicator of seller sentiment and general market confidence. However, this…
Australia’s population grew by 1.6 per cent in the 12 months to 30 September 2022, according to the latest figures released by the Australian Bureau of Statistics (ABS). Beidar Cho, head of ABS Demography, said: “Our population on 30 September 2022 is 26.1 million people after we recorded an increase of 418,500 people over the…
New data from APRA this week shows a more conservative approach to housing lending in the December quarter of 2022. The Quarterly ADI statistics report reveals the portion of new loans originated on a debt-to-income ratio of six or more dropped to just 11.0% in the quarter, after peaking at 24.3% a year earlier. The…
The latest RBA decision for a 25 basis point lift takes the cash rate to 3.6%, the highest level since May 2012. To date, this rate-tightening cycle has been both the largest and the most rapid on record by some margin. The cash rate setting is now 105 basis points above the pre-COVID decade average…
The housing market has been hit hard by a series of cash rate increases, with new home sales plummeting as buyers struggle to afford the higher borrowing costs. In fact, according to HIA’s Chief Economist, Tim Reardon, “sales of new homes fell again in January, down by 12.8 per cent for the month, leaving sales…
It’s a tough time for central bankers the world over, but especially for Reserve Bank of Australia governor Philip Lowe. Having forecast during the COVID recession that Australia’s central bank wouldn’t raise interest rates before 2024, he’s taking a lot of stick for nine consecutive rate rises since May 2022. This has taken the cash…
