The Payment Times Reporting Scheme, which aims to improve payment times for small businesses, needs to be updated to better serve the small business sector, according to an independent review of the Payment Times Reporting Act 2020. Craig Emerson, who conducted the review, said the federal government should ban unfair payment practices, increase the powers … Read more
The Reserve Bank of Australia’s new Chair Michelle Bullock today announced the central bank would hold the nation’s cash rate at 4.10%. Despite the cash rate sitting four percentage points higher than its all-time low in 2022, we are still seeing the typical springtime boost in properties going to auction. The week ending 24 September … Read more
Over the past three years, there’s been a significant increase in the number of new businesses, which may translate into increased demand for commercial property. Between the 2019-20 and 2022-23 financial years, the number of actively trading businesses in Australia rose 11.9%, from 2,314,448 to 2,589,873, according to the Australian Bureau of Statistics. Focusing just … Read more
The tourism sub-sector of the commercial property market has been an outlier over the past three years – for worse during the pandemic and now for the better. “For the rest of the commercial property market, volumes hit new highs as interest rates fell in 2020 through to 2022, with a range of new investors … Read more
Outgoing Reserve Bank Governor Philip Lowe has used a farewell address to deliver some insightful remarks about inflation, unemployment and productivity. Before Dr Lowe became governor, inflation was quite stable. But during his seven-year stint in the top job, inflation ranged from a low of -0.3% to a high of 7.8%. “My view is that … Read more
