Earlier this year, Vanguard Australia warned that the housing crisis threatens the nation’s retirement system. Vanguard projected that an increasing proportion of Australians would rent in retirement, while 30% would still be paying down their mortgages. “Australians have this view that they will own a home and be debt-free when they get to those retirement years”,
Earlier this week, property industry analysts Charter Keck Cramer poured cold water on the notion that rezoning Australian suburbs for high density will lead to more affordable housing. Charter Keck Cramer said that with the explosion in construction costs since the pandemic, apartment prices would need to rise by 15% to make it financially viable
Asian stock markets are still putting in very mixed sessions, which is not surprising given the continuining poor lead from Wall Street overnight and also the lack of economic catalysts for risk markets to go on. Futures are indicating a flat or lower start for European stocks which are likely to be muted again although
The International Monetary Fund’s (IMF) latest World Economic Outlook report forecasts that Australia and Slovakia will be the only two advanced economies with headline inflation above 3% by the end of 2025. The IMF expects Australia’s inflation rate to rise to 3.6% by December 2025 as federal and state government cost-of-living relief is wound back.
I have written repeatedly how Australia’s home building industry is facing stiff headwinds that will keep the volume of housing construction depressed for the foreseeable future and unable to meet the Albanese government’s fantastical housing target. First and most importantly, construction costs have risen nearly 40% since the start of the pandemic, meaning that it
Why must Australia have these endlesss debates about idiotic non-solutions while the real answer is tried, true and obvious: BlueScope has called for the introduction of an east coast gas reservation to ensure domestic users are adequately supplied ahead of a looming regional supply crunch. Australia’s east coast is awash with gas, but it is
Australian households have had a torrid time in recent years, experiencing the largest decline in disposable incomes in history: This decline in household income has also been among the largest in the world: On July 1, the Stage 3 tax cuts came into effect, which reduced personal income taxes by around $1,200 annually for somebody
Australia has a very large skilled migration program. Over the last 20 years, Australia has granted 2.3 million permanent skilled visas. Earlier this year, the Committee for Economic Development of Australia (CEDA) published research revealing that half of skilled migrants work in occupations that are below their qualifications and earn significantly less than Australians with
Women have made such a difference in the housing crisis. They’ve made it worse. Victorian teal MPs have strongly criticised key aspects of Premier Jacinta Allan’s plan for high-rise towers in Melbourne suburbs, with the federal member for Goldstein, Zoe Daniel, warning “crash or crash through” policies will not fix the housing crisis. The developments will
There is a first time for everything, and today I agree with Tim Gurner, Australia’s most hated man: Developer Tim Gurner says the Victorian government’s stamp duty cuts are a strong start to get the property market moving again, but warned the effort is doomed to fail unless Melbourne’s reputation as a safe place to