It is important to note that future interest rate rises by the Reserve Bank of Australia could potentially calm the current market exuberance. The rise in house prices is not limited to Queensland, as property prices have increased in every capital city across the country. Despite interest rate hikes, there is no evidence of significant distress among mortgage holders. Economists agree that while...
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The talks about a possible rent cap in Queensland will only worsen the rental crisis and infuriate investors, experts say. PRD Real Estate chief economist Dr Diaswati Mardiasmo told that while the concept of a rent freeze would help alleviate financial pressures among renters, a policy enforcing it would not be appropriate for current economic conditions. “A rental cap has more of the...
Core Logic, an Australian real estate industry research institution, said that the rise in rents across Australia may soon reach its peak, but once interest rates stabilize, more investors will enter the market. This is because the latest data in August and September show that rent continues to grow at an annual rate of 10%. CoreLogic's latest quarterly review found that the rent rose 0.6% in...
On September 2, Australian Home Affairs Minister Clare O'Neil announced at the Australian Employment and Skills Summit that the government will increase the immigration quota for the new fiscal year from 2022 to 2023 from 160,000 to 195,000. The increase is 10%. The highest total in years. Prime Minister Anthony Albanese said there was a "consensus" that more permanent immigration was needed to...
As one of the first countries in the world to establish a modern social security welfare system, Australia has attracted countless people from all over the world to immigrate to Australia with its comprehensive and extensive welfare policies. Statistics show that the Australian government spends at least 42 billion Australian dollars in pension benefits every year, which is obviously a huge number in...
Commonwealth Bank of Australia (CBA) is Australia's largest financial institution. It provides diversified financial services covering retail, commercial, institutional, investment, insurance, wealth management and brokerage services with over 16 million clients. Commonwealth Bank of Australia releases its full-year results on Wednesday, August 10. Analysts and investors were more interested in the...
Homebuyers are "waiting and seeing" how high interest rates will go as the Reserve Bank of Australia hikes interest rates for the fourth time in a row since May. Cost of living pressures, rising mortgage repayments and the "negative wealth effect" of falling house prices have slowed the potential buyer's market after two years of unprecedented property growth.