Last financial year, a record 3,000 construction firms in Australia were declared bankrupt (insolvent). At the end of the financial year, Gayle Dickerson from KPMG warned that insolvencies probably had not peaked. “We haven’t hit the peak yet and how long until we do remains a question, which will be driven by broad economic circumstances”,
The red earth, Newlyn, Victoria AUD/USD EUR/USD USD/JPY GBP/USD Gold WTI Brent Australia 200 US S&P 500 UK 100 Japan 225 Easy Listening
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Earlier this month, Accent Research released a survey showing that only 15% of respondents believed that younger Australians could purchase a home without financial assistance. The results followed an analysis from Money.com.au showing that homebuyers need to save a deposit of nearly $200,000 to purchase an average-priced home with lenders’ mortgage insurance. A separate analysis from
This is Australia. Via CBA. Australians are freeing up more of their wallet for discretionary purchases with a focus on value and convenience, according to the latest CommBank iQ Cost of Living Insights analysis. Overall spending continues to trail inflation, up by just 1.5 per cent compared to the same time last year. Young Australians
The Albanese government’s Help-to-Buy shared equity scheme has been stuck in the Senate since February. Under the scheme, the federal government would provide 10,000 eligible participants with 40% of the purchase price of a new home and 30% for existing homes per year. To qualify for the scheme, participants must have a minimum deposit of
The RBA minutes are out and again it is making absolutely no sense. Looking ahead, headline inflation was forecast to remain temporarily within the 2–3 per cent target range until the September quarter 2025, when the scheduled end to energy rebates would see it pick up. Inflation was not expected to return sustainably to the target until 2026,
The Market Ear on the Trump blowoff. Needs a pause DB writes: “The post-election move in positioning was the biggest weekly jump in positioning on record in our data going back to 2010”. DB Not low Consolidated equity positioning at rather stretched levels these days. DB Big in small caps Investors have “bumped” up the
RBA assistant governor Christopher Kent spoke about how rising interest rates have hit Australian households particularly hard. Although the official interest rate in Australia rose by less than the average, the average interest rate on outstanding mortgages in Australia is among the highest in the developed world. The more significant rise in mortgage rates in
Xi wants to keep his Albo puppet dancing. China’s President Xi Jinping has praised the “turnaround” in relations with Australia, saying he wishes to work with Anthony Albanese to project “more stability and certainty” into the world. The Prime Minister met Mr Xi on the sidelines of the G20 summit in Brazil overnight on Monday
Earlier this month, The ABC’s Keane Bourke acknowledged that “Australia doesn’t have enough houses” and suggested that Australians let out their spare bedrooms to ease the rental crisis. Bourke claimed that Australia would have the capacity “for about five million extra people” if these spare bedrooms were rented out. Over the weekend, The ABC suggested that