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
The Chinese property crisis has led to stock piles of iron ore and finished steel products, which has sent the price of Austalia’s biggest export falling. Senior Equities adviser at Bell Potter Securities, Giuliano Sala Tenna says he’s expecting to see a correction in the industry as the price comes down closer $US80 per tonne. … Read more
Australia’s multi-speed property industry results in a confusing start to the spring selling season. Property listings are up, but demand is down, leading to a slow start in Australia’s largest cities, Sydney and Melbourne. CoreLogic’s data reveals prices have continued to rise in August, with home values increasing in Sydney (+0.3 per cent), Brisbane (+1.1 … Read more
China’s economic crisis continues to deepen as new statistics show the property collapse has reached a new low. But will the CCP come to the rescue, and are there signs that Chinese real estate might rebound? ★ ★ LEARN TO INVEST ★ ★ Get started investing on the right foot with our step-by-step investing courses: … Read more
The Reserve money institution has left debt charge rates unchanged, but has issued a warning to home borrowers. | *Subscribe and 🔔: http://9Soci.al/KM6e50GjSK9* *Get more breaking news at 9News.com.au: http://9Soci.al/iyCO50GjSK6* FOLLOW 9News Australia ► Facebook: https://www.facebook.com/9News/ ► Twitter: https://twitter.com/9NewsAUS ► Instagram: https://www.instagram.com/9news/ Join 9News for the latest in news and events that affect you in … Read more
Real estate agents say higher borrowing charge rates are putting off some home buyers. It comes as the Reserve lender left the cash rate on hold at 4.35 per cent. RBA governor Michele Bullock says financial conditions are “particularly restrictive” on households at the moment, and she hopes she doesn’t have to raise rates again. … 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
The Commonwealth lender has reported an 8 per cent drop in net profit in its half-year results, with chief executive officer Matt Comyn warning the financial strain hitting customers and the lender’s bottom line will continue through the year. He also says he expects to see an increase in bad loans and that downside risks … Read more
The Reserve lender has left borrowing charge rates on hold at a 12-year high after inflation fell by more than expected towards the end of 2023. It means the cash rate remains at 4.35 per cent. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2024-02-06/rba-board-keeps-cash-rate-steady-february-2024/103431110 Most economists are predicting a rate cut this year. But the RBA says … 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