Leading Sydney auctioneer and agent Tom Panos has issued a warning for Australian home buyers. Panos believes that Australia’s property market is the hottest it has been since the Covid boom and will only get worse once the Albanese government’s 5% deposit scheme for first home buyers comes into effect next month. In his weekly
International Reading: Las Vegas mayor says the city is suffering from a serious drop in Canadian tourists: ‘We need you, and we miss you’ – Fortune Hundreds of scared Arkansas farmers gathered to ask Trump for help — and plead with President to show ‘fruit’ of his love. What do they expect? – Money Wise
AUD/USD EUR/USD USD/JPY GBP/USD Gold WTI Brent Australia 200 US S&P 500 UK 100 Japan 225
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The Reserve Bank of Australia’s (RBA) interest rate cuts alongside the imminent introduction of the Albanese government’s 5% deposit scheme for first home buyers have triggered a sharp uptick in Australian home prices. Cotality’s daily dwelling values index has reported the strongest 28-day growth since March 2024, with values across the five major capital cities
CBA released its monthly Household Spending Insights (HSI), which rose by 0.3% in August and follows a 0.7% lift in July and a 0.5% increase in May and June. The following chart from Justin Fabo from Antipodean Macro plots the uptrend in the HSI over recent months and confirms the stronger household consumption reported in
The federal government is widely tipped to announce its 2035 emissions reduction target next week, ahead of the upcoming United Nations General Assembly meeting in New York. The Labor Environment Action Network’s new co-convener Louise Crawford says the 2035 target will provide an opportunity for Australia to demonstrate “global leadership” on the world stage. Crawford
Statistics New Zealand this week released migration data, which showed that only 13,066 net overseas migrants landed in New Zealand in the year to July. This was well below the decade average of 49,000 and more than 120,000 lower than the late 2023 peak. The decline in net overseas migration has been driven by the
I have consistently cautioned that the state and federal governments’ plans to blanket our cities with high-rise apartments will not improve housing affordability. The reason is simple: it is too expensive to construct apartments. As a result, they cannot be delivered at a reasonable cost to buyers. Urbis highlighted the excessive cost of apartment development,
When Australia’s international borders reopened in early 2022, the nation was already well in the midst of a rental crisis. As a result of the pandemic, demand for rentals surged significantly, first in regional areas as people sought to make their exodus from lockdown-impacted cities and then in the capitals as individuals stuck at home
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