Happy Friday everyone. Sharemarket continues to soar, gold is at a record high in Australian dollar terms and the Aussie dollar itself is at an 11 year low. It has been a big week of contrasts for financial markets – The sharemarket has been driven by good profit results from major companies. – Gold is…
Australia’s real estate auction markets are heading back towards boom levels, the national clearance rate at 78.6%, based on preliminary results, and Sydney, Melbourne Canberra and Perth around or above an 80% clearance rate with the number of properties also well above the levels seen 12 months ago. Capital City Auction Statistics (preliminary). Source: Corelogic …
Cheap money also allows people to borrow more with the average home loan in Australia reaching $500,000. Since the Federal election the average new home loan has lifted by around $60,000 or 16 per cent. Rate cuts and increased buyer enthusiasm for property have driven the gains. But with wages growing at a 2.2-2.3 per…
Hey gang, get up to speed on this week’s financial trends with my market updates. We’re in the midst of the profit reporting season from Australia’s major companies. Stocks which are meeting their performance expectations are being rewarded… but those which aren’t are really being caned by investors. Out of the results this week, for…
Australians started borrowing again before Christmas, with the value of new home loans up by 4.4% in December (seasonally adjusted), while personal fixed term loans rose by 3.5% according to data released today by the Australian Bureau of Statistics. The value of mortgages to owner-occupier rose by 5.1%, an eight-year high, and 17.9% over the…
Hey gang, get up to speed on this week’s financial trends with my market updates. As most of you would realise I have been the Reserve Bank’s biggest cheerleader for many years. In my view both Governor’s… current Philip Lowe and predecessor Glenn Stevens… and their boards have done a sensational job in managing monetary…
With Governor Philip Lowe confirming low rates are here to stay. Competition in the home loan market has continued to heat up. There are now over 30 lenders offering variable mortgage rates starting with a “2”. Lowest advertised rates on RateCity.com.au Variable rates Lender Advertised rate Reduce Home Loans 2.69% Well Home Loans 2.72% Homestar Finance…
Property prices are rising rapidly again in Australia’s two biggest capitals, Sydney and Melbourne, with values up 1.1% and 1.2% respectively, in January. The national rebound continued to start 2020, with the CoreLogic national home value index up by 0.9% in January. That takes the annual growth rate to 4.1%; the fastest pace of growth…
The bushfire devastation has been incredibly distressing for so many Australians this summer. The emotional and financial scars will be felt for a long time on so many levels. My heart goes out to those rebuilding their lives, homes and businesses. One of the biggest financial hits to these regions will be to the value…
Hey gang, get up to speed on this week’s financial trends with my market updates. It’s been an absolute rollercoaster week on financial markets trying to cope with the nervousness surrounding the Coronavirus pandemic, the arrival of Brexit and the profit reporting season in the United States. Share Markets would fall when the focus was…
A few years of stellar returns has convinced many people that investing in property is a sure thing....
It’s a funny thing when you realise that your parents are old. It makes you reflect on their...
Every working Australian is invested in the sharemarket… through their superannuation. As global sharemarkets tank and the doomsayers...
