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WEB7. Auction market crashes as “fear of missing out” evaporates. 11 hours ago. 6. Sydney house prices tower over Melbourne. 3 days ago. 5. Curbing negative gearing would boost home ownership. 3 ...
Apartment collapse demolishes Labor’s housing target
WEB17 hours ago · In the year to August, 166,200 dwellings were approved, which is 73,800 (31%) below the 240,000 annual run rate required to meet Labor’s target. The unit & apartment segment, where approvals are ...
Recession battered retailers beg RBA for rate cuts
WEB11 hours ago · The annual rate of retail sales lifted to 3.1%. On the face of it, the stronger-than-expected result suggests that consumer spending is holding up and augers against the RBA cutting interest rates ...
Australia transforms into public sector economy - MacroBusiness
WEBSep 24, 2024 · The Q2 national accounts and the latest labour force data showed that the public sector is powering the Australian economy, masking the deep private sector recession. Source: Alex Joiner (IMF ...
Australian’s recession set to break more records
WEB6 days ago · The OECD’s latest economic outlook report has downgraded Australia’s GDP growth forecast for 2024 to 1.1%, compared with 1.5% in its previous report in May. The OECD also forecasts that ...
Losses mount across Australia’s hospitality industry
WEB13 hours ago · Subscribe. According to insolvency data from the Australian Securities and Investments Commission (ASIC), over 1,900 hospitality businesses failed last financial year as food and energy expenses ...
RBA to hold rates until mid-2024 - MacroBusiness
WEBSep 29, 2023 · We expect the new RBA Governor and Board to leave monetary policy unchanged at the October Board meeting, holding the cash rate steady at 4.1%. The RBA is expected to retain its tightening bias ...
Australia’s consumer recession projected to deepen
WEBAustralians are currently enduring their deepest recession since the early 1990s outside of the pandemic lockdowns. Australia’s real per capita GDP declined by 1.3% over the five quarters to ...
Australia’s ‘working poor’ has never struggled this much
WEBEven Anglicare in booming Western Australia reported that 68% of people using the charity’s emergency relief services are doing so for the first time.
Why Australian interest rates could still rise - MacroBusiness
WEBAug 23, 2023 · We had expected home prices to rise by 3% in 2023 and 5% in 2024. Our forecast for 2023 has already been met and we now expect a gain of 7% across the 8 capital cities in 2023 and a further 5% in ...