Australia’s vacancy rate fell to 0.9% in July, compared to 1.0% the month before and 0.9% the year before, according to Domain. In national terms, supply and demand strongly favours property investors, although conditions differ from market to market Sydney’s vacancy rate was 1.2% in July, the same as the year before. “Annually, vacant rental listings … Read more
One of Australia’s leading economists has forecast a positive spring selling season – in part due to a sharp decline in household savings. “With savings rates now plummeting, what does this mean for property?” Ray White Chief Economist Nerida Conisbee said. “With retail trade falling for the third straight quarter, savings rates plummeting and inflation … Read more
Last month was the biggest July in the history of new vehicle sales, according to the Federal Chamber of Automotive Industries (FCAI). Australians took delivery of 96,859 new vehicles, which beat the previous July record (92,754), set in 2017, by 4.4%. FCAI Chief Executive Tony Weber attributed the record result to an ongoing increase in … Read more
Australia’s competition watchdog has refused to authorise ANZ’s acquisition of Suncorp Bank. The Australian Competition & Consumer Commission (ACCC) said it had rejected the $4.9 billion deal, which was announced in July 2022, because it might reduce competition in the banking sector. “We are not satisfied that the acquisition is not likely to substantially lessen … Read more
