While the government fended off questions about whether it commissioned a review into negative gearing, a Senate inquiry into home ownership turned its attention to the home loan serviceability buffer, looking at whether the current setting is too stringent and is unnecessarily locking people out of homeownership. The banks at the inquiry have expressed diverging … Read more
In the past year, the price of beans has increased by 56 per cent, hitting a 13-year high of $US2.60 per pound. Joe Taweel from the Australian Coffee Traders Association, says the sector is facing a multitude of challenges. The world’s largest arabica bean producer Brazil is going through the driest season since 1981 with … Read more
Property prices continue to hit new records, with the national average home now worth $973,300 in the three months to the end of June, according to the Australia Bureau of Statistics. Prices in NSW ($$1,222,000) remains the highest in the country, followed by the ACT ($953,900) and Victoria ($900,300). But SQM Research managing director Louis … Read more
Wesfarmers chief executive officer Rob Scott says it’s been a challenging year in the retail space and he hopes the stage 3 levy cuts will provide a bit of relief to households under pressure from higher home loan repayments and soaring rents. He spoke to The enterprise after the firm, which owns Kmart, Target and … Read more
There are growing concerns about the viability of a domestic hydrogen field, which has barely started. Some producers are warning the proposed policy settings for the sector could have a perverse effect, and the hydrogen produced in Australia won’t be truly green. Sunshine Hydro Executive Chairperson Michael Myer says this would derail the government’s plan … Read more
The RBA Governor Michelle Bullock has flagged the board won’t hesitate to increase finance charge rates, but critics say another hike would hazard crashing the economy. The Australia Institute Executive Director Richard Denniss says increasing finance charge rates is “dangerously unnecessary” and it’s more important to avoid a recession than get inflation down to the … Read more
Research by PEXA found more than one in four properties purchased in NSW, Queensland and Victoria last year were bought without a property loan, often by older, retired and ‘asset-rich’ Australians. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2024-03-13/quarter-of-properties-purchased-with-cash-2023-nsw-vic-qld/103576718 The research found that $454.7 billion worth of residential property was purchased in the eastern states in 2023, … Read more
NAB chief executive officer Ross McEwan expects house prices to continue rising a little bit more this year and next year. He says there’s a lot of demand for homes and very limited supply. The number of migrants coming back to Australia has also exacerbated the issue. Mr Ewan told The enterprise’ Alicia Barry borrowers … Read more
Global markets have been rocked by fears of money crisis spreading globally. Shares in borrowing Suisse plunged following an admission this week of lax financial controls and mounting scandals. Subscribe: http://ab.co/1svxLVE There are predictions central banks may need to pull back from raising finance charge rates to prevent a recession. Read more here: https://ab.co/3JkrpbC ABC … Read more
Tech sector veteran Daniel Petre says venture capital funds that dived in on tech and crypto holdings will be booking losses next year and those burnt in the space will be more hesitant to invest. Subscribe: http://ab.co/1svxLVE Read more here: https://ab.co/3FbCBXk ABC News provides around the clock coverage of news events as they break in … Read more