CoreLogic released final auction results for the last weekend, with the capital city clearance rate falling below 60% for the first time in 2024. The combined capital city clearance rate fell to 59.5%, down from 60.6% over the previous week and 66.1% this time last year. Melbourne’s clearance rate held below 60% for the third
International Reads: Trump to propose making car loan interest fully tax-deductible – Fortune U.S. Inflation Reaches Lowest Point Since February 2021 – Huffington post Trump Delivers Historically Illiterate Lecture on Tariffs – NY Mag McDonald’s is joining the FTC in going after an alleged meat monopoly – QZ DOJ indicates it’s considering Google [GOOG] breakup
Most stock markets were unchanged in Asia today due to the meek response on Wall Street to the latest US CPI print which came in slightly hotter than expected. Currencies are equally unchanged although the Australian dollar is trying to lift off its recent low at the 67 cent level. Oil futures have not yet
Domain has released its September quarter rent report, which contains the below chart showing the dramatic growth in median asking rents across the combined capital cities: According to Domain, median house rents soared by $220, or 51%, from $430 to $650 between December 2019 and September 2024. Median unit rents rose by $180 or 40%,
Last month, former Sunrise host David Koch told Sydney radio presenter Ben Fordham that young Sydneysiders should adjust their lavish lifestyles if they want to enjoy the same housing benefits as their parents. They “don’t have a cost-of-living issue, they have a cost-of-lifestyle issue”, Koch claimed. “You’ve gotta give things up, you’ve gotta sacrifice things
Earlier this week, The Australian’s James Kirby used Victoria’s property tax reforms as a cautionary tale of why negative gearing should not be reformed. “Victoria is a test case of what happens when investors face tax changes – a recent string of new state-based property taxes has triggered an investor exodus from the state prompting
Another monopolist is putting an energy gun to the East Coast economy: The AER is inviting feedback as part of a consultation phase ahead of a final decision expected in early December. APA chief executive Adam Watson welcomed the draft decision, having previously warned that imposing full price regulation on the SWQP would push up energy
Aussie interests are cock-a-whoop: Prime Minister Anthony Albanese says Chinese Premier Li Qiang has confirmed Beijing will restart imports of Australia’s live rock lobster trade by the end of this year. Aussie lobsters were our last bastion of defense against China. Claws raised! No longer. Albo has fully capitulated to the Chinese charm offensive following
The AFR this week reported that the number of temporary migrants in Australia spiked by around 100,000 in the past year, with the volume of student visas surging to an all-time high 679,293 at the end of August. The number of temporary graduate visa holders has also jumped from 193,277 a year ago to 223,960.
An academic from the Queensland University of Technology have come up with a brainiac solution to Australia’s housing crisis: have older Australians rent out their spare bedrooms. “Strong demand in the rental sector is being fuelled by post-COVID population growth of 651,000 persons in 2023, combined with shrinking capacity in housing supply evidenced by falling