Investors and economists have slashed their bets that the Reserve Bank will deliver a rate cut this year, after inflation rebounded in the March quarter. The consumer price index (CPI) rose 1 per cent in the first three months of 2024, the Australian Bureau of Statistics reported on Wednesday, upContinue Reading
Jim Chalmers says next month’s budget will be underpinned by “five pressures” on Australia’s economy. In a discussion with other G20 finance ministers in Washington overnight, the Treasurer laid bare the fine line Australia had to walk as it sought to grow, while the economy slowed. He said five globalContinue Reading
The typical Australian who might’ve once bought a home a few generations ago is now much more likely to rent thanks to plunging housing affordability, which is now at its worst level in more than 20 years.And they’re flooding rental markets that are beyond capacity, competing with low-income and vulnerableContinue Reading
Australia is expected to lag behind its peers in reducing inflation and boosting economic growth, the International Monetary Fund has warned, as Treasurer Jim Chalmers prepares to attend a a series of high-level talks in Washington. With less than a month until the May budget, Dr Chalmers will leave theContinue Reading
Millennials across the internet are realising, to their horror, that a key stereotype about their generation’s interior design sense may actually be based in truth. The term ‘Millennial grey’ is thrown around a lot online, particularly by Gen Zers mocking the elder generation for their decor choices. If you haven’tContinue Reading
Anthony Albanese’s ambitious plan to build 1.2 million new homes over the next five years has been declared as dead in the water – before it even officially commences. One of the Federal Government’s signature policies led to the establishment of a National Housing Accord between the states and territoriesContinue Reading
New home starts have plunged to the lowest level in more than a decade, as constrained conditions in the building industry and elevated interest rates crunch the construction of new housing. Work commenced on just 163,836 new homes during 2023, down 6.4 per cent on the year prior, the AustralianContinue Reading
Australians have racked up nearly $18bn of credit card debt in February, with the latest Reserve Bank data revealing worrying signs that households are struggling to pay off their Christmas bill. Estimates suggest it is costing Australians $8.8m a day in interest charges after interest rate charges on credit cardContinue Reading
Stark forecasts for home prices across the country are tipping mammoth growth in the next three years, according to a leading economics firm. House prices in Sydney are predicted to reach an average of nearly $2 million by 2027, thanks to anticipated rate cuts and a supply shortage, research byContinue Reading
An Australian landlord who went viral after complaining she felt “demonised” by renters has doubled down on her comments, saying she can’t be “responsible for everybody’s life situation”. Melbourne retiree Ann-Maree Eastman owns four properties with her husband Phillip and spoke about housing policy on ABC’s Q&A program on MondayContinue Reading