Years of spending beyond our means has caught up with Australia today, with ratings agency Standard and Poor’s lowering Australia’s credit rating outlook to negative. While Australia retains its prized AAA credit rating for now, it is a strong warning Australia could lose its coveted credit rating if our budget …
Australia’s trek to the polls on Saturday has resulted in a nail biting, too close to call result. At the conclusion of counting at 2am Sunday morning, the ALP had 67 seats, LNP – 65 and the minor parties have picked up five. 13 seats remain in doubt with counting …
Negative gearing was intended to create more affordable housing, but as house prices surge, causing rental yields to tumble, more evidence is mounting to the contrary. Research by UNSW’s City Futures Research Centre has found a higher concentration of vacant homes in the inner cities. When it investigated further, it …
Western Australia’s highest residential vacancy rate in decades has turned the state into a hot spot heaven for squatters. Squatters are finding home in some of the tens of thousand vacant properties sitting idle in WA. Some are changing the locks and threatening landlords. Others are conducting their own renovations …
Australia’s banking regulator has expressed “perpetual concern” about the dominance of Australia’s big four banks in the lending market. Charles Littrell, Australian Prudential Regulation Authority (APRA) supervision general manager told a Centre for International Finance and Regulation showcase event on Thursday, “In 1990, the four major banks had 40 per …
A Treasury report released under Freedom of Information has found over half of all negative gearing tax benefits aid our top twenty percent of income earners and the top ten percent of income earners gain 75 percent of the capital gains tax concessions. Despite claims by the coalition that Mums …
Moody’s Investors Service has warned today, the recent resurgence in house price growth following last month’s rate cut would been seen as a credit negative for Australian banks. The surge, “against a back drop of an already-high level of household indebtedness” would increase the sensitivity of Australian banks to a …
“Domestically, the unwinding of housing-market tensions to date may presage dramatic and destabilising developments, rather than herald a soft landing.” This is the latest warning from the OECD Economic Outlook and comes after the Reserve Bank of Australia stoked the hot coals last month, slashing the official cash rate by …
All four of Australia’s big banks have tightened lending for foreign buyers over the past months, some blaming increased regulatory requirements. Under the Basel III banking reforms, banks will face higher capital requirements on loans reliant on foreign income. Highly elevated house prices and paltry rents in Australia means rental …
Borrowers are having to pay larger housing deposits in 2016 as lenders re-evaluate their risk appetite, according to Genworth. Genworth Mortgage Insurance Australia Limited is Australia’s largest provider of Lenders Mortgage Insurance (LMI). LMI protects the lender when borrowers default on their home loans. According to the Chief Executive Officer, …
An unprecedented 10,200 vacant residential properties are now available for rent in Perth, according to an ABC news report published today. Perth City now has a distressing vacancy rate of 6 per cent, while the suburbs hover around an highly elevated 4 per cent, about three times the long term …
The Reserve Bank of Australia (RBA) has today acknowledged the Australian economy is slowing more rapidly than forecast, deciding to slash the official cash rate by 25 basis points to a record low of just 1.75 per cent. It follows ugly stats out last week from the Australian Bureau of …
The ABC’s Four Corners has aired an excellent story tonight showing how tax distortions such as negative gearing has created one of the world’s largest housing bubbles: Watch the 45 minute segment here.
This article is part of a three part series. Part 1 examines the merits and problems experienced from Labor’s Fibre to the Premise Network. Part 2 investigates the Coalition’s multi technology mix using a smorgasbord of technologies and the challenge of using aging networks to deliver super fast broadband into …
Prime Minister Malcolm Turnbull has today ruled out any changes to negative gearing and in doing so, has drawn battle lines on housing affordability for this coming election. If Labor wins the election, it plans to reform negative gearing and the capital gains tax discount effective from 1st July 2017. …
Shares in McGrath Limited plunged more than thirty per cent today, after the listed real estate agents were forced to disclose an “unforeseen” slowdown in residential listings. McGrath has continued to experience an unforeseen low volume of listings and sales in the first half of April, particularly in the North …
This article is part of a three part series. Part 1 examines the merits and problems experienced from Labor’s Fibre to the Premise Network. Part 2 investigates the Coalition’s multi technology mix using a smorgasbord of technologies and the challenge of using aging networks to deliver super fast broadband into …
This article is part of a three part series. Part 1 examines the merits and problems experienced from Labor’s Fibre to the Premise Network. Part 2 investigates the Coalition’s multi technology mix using a smorgasbord of technologies and the challenge of using aging networks to deliver super fast broadband into …
In his victory speech, Prime Minister Malcolm Turnbull said the Australia of the future has to be a nation that is agile, innovative and creative. But founder of Australia’s largest tech company, Mike Cannon-Brookes, claims Australia is too expensive. Mike Cannon-Brookes, a founder of Nasdaq listed software company Atlassian, headquartered …
A flawed report claiming Labor’s plan to quarantine negative gearing to new homes would result in rents surging by up to ten percent, and new home builds falling 7,200 annually, has embarrassingly backed fired for the government. The BIS Shrapnel report, riddled with significant errors such as Australia’s GDP being …
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