Khader Hasan For the past few years, Tesla has been synonymous with electric vehicles (EV) in both Australia and other markets outside China. But that may be changing. In the December 2023 quarter, Chinese manufacturer BYD sold more EVs throughout the world than Tesla, while in January BYD outsold Tesla in Australia, according to the Australian Financial Review. … Read more
Stamp duty is both an increasingly expensive tax and a highly inefficient one, according to joint research by the e61 Institute and PropTrack. Four decades ago, the average buyer in Sydney, Melbourne, Brisbane and Adelaide needed to work for about one month to afford to pay stamp duty, based on comparing the average post-tax income … Read more
Australia’s fourth-largest mortgage lender, ANZ, is one step closer to acquiring the country’s ninth-largest, Suncorp Bank, after winning an appeal against an earlier rejection of the deal. ANZ and Suncorp agreed the deal in July 2022, but the Australian Competition & Consumer Commission (ACCC) decided, in August 2023, not to authorise the takeover because it … Read more
There’s been a noticeable slowdown in rental growth, although it’s not yet clear whether this is an out-of-the-ordinary result or sign of a trend. Across Australia, the median rent in the December 2023 quarter experienced 11.5% year-on-year growth but only 1.8% quarter-on-quarter growth, according to PropTrack. PropTrack Senior Economist Angus Moore said the rental market … Read more
One of Australia’s leading property economists, Ray White Group Chief Economist Nerida Conisbee, has given 10 insights about what to expect from the property market this year. Price growth will continue. Market forces will lead to further price growth in 2024, according to Ms Conisbee. “At this point, housing supply remains extremely low and many people … Read more
Toyota was the clear market leader in 2023, in what was a record-breaking year for new vehicle purchases. Motorists bought 1,216,780 new vehicles last year, which was a 2.3% increase on the previous record, set in 2017, according to the Federal Chamber of Automotive Industries. More than one in six of those buyers, or 17.7%, … Read more
Investing in property can increase your wealth by generating a rental yield and capital growth. But you’ll also have some expenses and costs that you’ll need to take into account when determining whether your investment will be viable or unprofitable. Your property investment costs include one-off and ongoing costs, so let’s take a look at … Read more
As of January 16, first home buyers in New South Wales can choose between making a one-off stamp duty payment or paying an annual property tax. Under the First Home Buyer Choice scheme, the annual land tax is: Owner-occupiers = $400 plus 0.3% of the land value (not property value) Investors = $1,500 plus 1.1% … Read more
The federal Treasury has launched an inquiry into the buy now, pay later sector, which is likely to result in tighter regulation for BNPL services. “These products deliver real benefits to the vast majority of these consumers,” said Minister for Financial Services Stephen Jones. “But there is a regulatory gap that can leave some vulnerable … Read more
Natural disasters can be devastating for small businesses, yet only one in four have a current business continuity plan, according to a new report tabled in parliament. The report, which was prepared by the Small Business Natural Disaster Preparedness and Resilience Inquiry, found that businesses with a plan are better able to bounce back after … Read more
