A record 882 cranes were operational across Australia during the September quarter, according to Rider Levett Bucknall (RLB). Of those 882 cranes, 554 were residential, which was a new record, and 328 non-residential, which was close to record levels. That included 77 cranes for mixed-use developments, 64 for commercial projects and 56 for civil projects. … Read more
Commercial property buyers made $11.8 billion of purchases in the first nine months of 2023, according to JLL, well short of the activity recorded in 2022, when $29.2 billion of transactions occurred throughout the entire year. Activity has fluctuated during 2023, with $4.3 billion of transactions in the first quarter, $3.5 billion in the second … 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
Australia’s unemployment rate has been remarkably steady – and low – for more than a year, but it might start trending upwards in the coming months. Unemployment rose from 3.6% in September to 3.7% in October, according to the Australian Bureau of Statistics (ABS). That marked the 16th consecutive month in which it had hovered … Read more
Australians continue to buy new vehicles in record numbers, according to the latest data from the Federal Chamber of Automotive Industries (FCAI). A total of 106,809 new vehicles were sold in October, marking the fifth time in six months that a record for that particular month was set. Every state and territory recorded higher sales … Read more
There’s been a big increase in the number of properties being listed for sale, which should please anyone in the market for a home or investment property. Throughout Australia, the number of new listings (defined as those less than 30 days old) was 14.3% higher in September than August, according to SQM Research. That included … Read more
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
