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Anyone who has recently built a house or completed a renovation will know first-hand the exorbitant rise in construction costs due to post-pandemic supply chain issues and labour shortages. This building cost spiral has also sent builders who had fixed price contracts in place before the upheavals, broke. The cost increases have been a major… Read more »
From 1 July 2025 the Federal Government plans to reduce the tax concessions on people with more than $3 million in their superannuation fund. An extra 15 per cent tax will be added to the annual “earnings” of the fund… on top of what they already pay. The controversy is not just the introduction of… Read more »
RBA Board meeting week and it was steady as she goes. A change in RBA Governor from Philip Lowe to Michele Bullock made no difference at all… and I suspect that was the point. There was all sorts of talk in the lead up to the meeting about whether Michele would stamp her own unique… Read more »
Inflation is stabilising, consumers are reining in their spending and the strong job market is showing signs of weakening. Economically we are kicking a few goals when it comes to inflation. This week’s monthly Consumer Price Index for August was in line with economist forecasts and steady at 5.6 per cent – still well above… Read more »
This Sunday some of the nation’s biggest health funds, including Bupa, NIB, GMHBA, Qantas and Frank, will be lifting their premiums. So, it’s important you get onto it now to make sure you have the best deal. Libby checked our cover this week through the Compare The Market (I’m CTM’s economic director) comparison site and… Read more »
Last week I wrote about how landlords are being driven out of the rental market, which is exacerbating the crisis. I was interested in an analysis by the research director at Ray White, Nerida Conisbee on the rental crisis and what is causing it. Proportion of households under rental stress The Economist magazine recently undertook an… Read more »
You know how ropeable I am about the Reserve Bank’s comments two years ago reassuring Australians to go out and borrow with the comfort of knowing interest rates would not rise until 2024. It was negligent for them to make those comments. Financial markets were warning of a then-imminent breakout in inflation and the need to… Read more »
Research from Compare the Market’s new Household Budget Barometer has revealed the nation’s surprising financial fears for the next 12 months. According to the report, the cost of groceries, energy and fuel are the bills that Australians believe will cause the most pain in the next year. In fact, a whopping 66.4 per cent of… Read more »
The Westpac-Melbourne Institute Consumer Sentiment survey has found that Australians haven’t been this gloomy since the 1990s recession. The last Reserve Bank Board meeting pointed out that the key economic indicators it is following for future interest rate decisions are the labour market (which, as we now know continues to be tight) and household confidence… Read more »
Consumers have gone so deep into the bunker and reigned in their spending so much that we are all but in an economic recession, except by name. Don’t be fooled by the latest economic growth figures for the March to June quarter. Yes, it’s looking in the rear-view mirror a fair way back, but that’s… Read more »
