Buying is cheaper than renting for houses in approximately one in seven suburbs and units in approximately one in five, according to Domain. Domain found that houses in 13.8% of suburbs around Australia were cheaper to buy than rent in September, after comparing rental prices with property prices and assuming a home loan interest rate … Read more
Investors in student accommodation have had a tough couple of years, but even in a post-pandemic world the outlook remains uncertain, according to one of Australia’s leading commercial property analysts. Ray White Commercial head of research Vanessa Rader said the pandemic was a trying time for student accommodation providers given that international students stopped arriving. … Read more
The Albanese government has used its first Budget to announce two specific measures aimed at the small business sector. First, the government will provide an energy savings grant program to reduce energy use and lower energy bills. Second, it will fund free mental health and financial counselling support for small business owners. In other changes, … Read more
Businesses have been warned they need to be able to substantiate any environmental claims they make in their marketing. Australian Competition & Consumer Commission deputy chair Delia Rickard said there have been increasing reports of businesses falsely promoting green credentials to capitalise on changing consumer preferences. “Broad terms like ‘environmentally friendly’, ‘green’ or ‘sustainable’ have … Read more
It is no longer mandatory for the vast majority of workers to isolate for five days if they test positive to covid-19. The decision, which took effect in mid-October, was made by the National Cabinet, and agreed to by all the states and territories. While self-isolation is no longer mandatory for most Australians, health authorities … Read more
The Reserve Bank of Australia (RBA) today increased the cash rate for the seventh month in a row. The cash rate increased from 2.6% to 2.85%. Australians are feeling the pinch as interest rates rise across the board. Whether paying off a mortgage or saving to purchase property, the cost to service a loan is … Read more
It’s no secret that the last couple of years have been turbulent in the property market. From a boom to stagnation and even a slight dip in prices in some areas, and record-low interest rates to six jumps in the cash rate in a row. Housing supply issues were a key consideration in the Labor … Read more
Residential construction costs have increased at a record annual rate, according to the CoreLogic Cordell Construction Cost Index. Home building costs in the September quarter were 11.0% higher than the year before. That was a sharp increase on the 10.0% increase in the June quarter and also higher than the previous record of 10.2% from … Read more
Rental rates increased by a record 10.0% in the year to September, following an identical rise in August, according to CoreLogic. The sharp increase in demand corresponds with a significant reduction in supply, with the number of for-rent properties in September 35.4% below the previous five-year average. And PropTrack economist Angus Moore has forecast that … Read more
Worsening extreme weather is leading to a rapid increase in insurance premiums and even an insurability crisis, according to a report by the Climate Council. The biggest insurance risk is expected to come from riverine flooding, followed by bushfires and surface-water flooding. “As the risk of being affected by extreme weather events is increasing, insurers … Read more
