Have you noticed how some Australians seem to be tightening their belts while others continue spending with little restraint? The latest CommBank iQ Cost of Living Insights Report highlights an emerging disparity between younger and older Australians in their financial habits, painting a vivid picture of the economic challenges and opportunities shaping the nation. According…
The NAB has amended its forecasts for both house prices and interest rates for 2025. Alan Oster, NAB Group Chief Economist explained the bank made a slight adjustment to their property price forecasts for 2024 (which is obviously almost over). Recent data showed prices were a bit softer than the NAB initially expected. But looking…
The NAB has changed its rate cut forecast from February 2025 to May 2025. This comes after the latest unemployment rate came in steady at 4.1% for October. Even though this was widely expected, it does challenge the RBA’s forecast track of the unemployment rate increasing to 4.3% in Q4 2024. The NAB believes that…
Western Australia (WA) continues to lead growth in owner-occupier loans, while Queensland (QLD) has become the second-largest market for investor loans, surpassing Victoria. Money.com.au’s latest Mortgage Insights report highlighted some interesting trends that reflect shifting buyer preferences, tax advantages, and affordability considerations across different states. National loan growth insights The average new loan size in…
It’s been a tumultuous week for global markets and geopolitics as the US election came to a head, and we had a very predictable outcome from the RBA in their November policy meeting. And there’s some good news ahead for Australia, according to David Robertson, Chief economist of Bendigo Bank, who, in his latest report,…
There weren’t many punters betting on a rate cut on Melbourne Cup Day, with financial markets allocating only a 5% chance the RBA would reduce the cash rate by twenty-five basis points. It was only a few months ago when some forecasters were still expecting a November cut, but the data simply hasn’t been compelling…
National rents rose by 0.2% in October, a subtle bounce back from the weaker growth over the previous three months, but less than a third of the 0.7% monthly rise recorded in October of the past three years. Annual rental growth has dropped to 5.8%, the smallest annual rise in the national rental index since…
All bets are off for a November RBA rate cut despite a drop in Australia’s annual inflation rate from 3.8 per cent to 2.8 per cent in the September quarter. The Consumer Price Index is now at the lowest level since the March quarter of 2021, and well below the peak of 7.8 per cent…
Victoria’s property market is undergoing significant changes aimed at stimulating buyer interest and addressing the housing supply shortfall. The Victorian government has introduced a temporary stamp duty concession for off-the-plan properties, effective October 21, 2024. The concession runs for a year and targets the state’s property market challenges. By reducing upfront costs, the Victorian government…
The latest Mortgage Insights report from Money.com.au sheds light on key trends in Australia’s home loan market, providing crucial insights for both seasoned investors and first-home buyers navigating these turbulent times. The average new loan size in Australia has risen by 8.8%, now sitting at $636,208, with investors seeing slightly higher figures at $648,998. While…
