Wages growth has predictably increased over the December quarter as the national labour market recovered from the impact of severe mid-year covid restrictions. The ABS national Wage Index seasonally adjusted rose by 0.7% over the December quarter for an annual growth rate of 2.3%. This was marginally higher than the September quarter increase of 0.6%…
For years the bank of Mum and Dad (BOMD) has been touted in the media as one of Australia’s largest lenders. A whole generation of parents has been reportedly dishing out a seemingly bottomless pool of funds to help frustrated first-home buyers get on the property ladder amidst skyrocketing real estate prices. However, that is…
Australia’s property market is off to a strong start for 2022, despite concerns about a cash rate increase and the continuing Covid-19 Omicron outbreak. Buyers wasted no time looking for their next property investment or home, with search volumes and views per listing hitting record highs throughout January, according to the latest PropTrack report. The…
January labour market data was stronger than expected despite the disruptions caused by the Omicron variant. Employment rose +13,000, unemployment was unchanged at 4.2%, and the participation rate rose to 66.2% (from 66.1%). However, instead of impacting the unemployment rate, the impact from the Omicron variant was concentrated in hours worked, which fell 8.8% month…
What’s ahead for interest rates? The Reserve Bank Board meets next week on February 1 and the Governor will be addressing the National Press Club on February 2 and the Bank will release its February Statement on Monetary Policy on February 4. And the media and most investors are waiting with bated breath to hear…
What’s the real unemployment rate in Australia? We know the official unemployment rate is close to 4%. We also know that the Australian Bureau of Statistics count people working an hour or so a week as employed. That doesn’t make a lot of sense to me so I am always interested in Roy Morgan’s unemployment…
The economic fallout of the Covid-19 pandemic saw mass job losses and plummeting incomes — but it was an entirely different story for Australia’s billionaires. While 99% of people across the world are financially worse off since the virus began, Australian billionaires “have had a terrific pandemic” with their wealth rocketing over the past two…
Australia’s housing market started the new year on a high with lending rates and building approvals seeing strong gains. Australia’s housing lending jumped again in December (+4.4 per cent month-on-month). In a recent ANZ Blue Note, senior economist Adelaide Turnbull explained that there is a growing risk the resurgence of lending could continue in the…
Refinancing is simply the process of taking your home loan debt and moving it to another bank or lender. If you can refinance your mortgage to a cheaper interest rate, you can save money on your monthly repayments or even own your home outright years sooner. Here’s how it works. What is refinancing? Refinancing is…
Who remembers this famous speech? “The great enemy of the truth is very often not the lie — deliberate, contrived and dishonest — but the myth — persistent, persuasive, and unrealistic. Too often we hold fast to the cliches of our forebears. We subject all facts to a prefabricated set of interpretations. We enjoy the…
