Assistant Governor Sarah Hunter highlighted the slow pace of improvements in housing supply, despite some positive indicators. During a conference in Hobart, Hunter acknowledged that developers are beginning to recognize the robust underlying demand and may respond by increasing the housing supply. However, she emphasized that this is in its…

With loan repayments soaring, many are resorting to selling off personal belongings, downsizing homes, or even selling their properties to cope with the burden. A study conducted by Canstar revealed that nearly half of Australian mortgage holders have contemplated selling off various assets, including their homes, personal items, investments, cars,…

The exchange nudged up marginally by 0.23 per cent and the rise was down to a blend of factors. Such factors include reassurance from the US Federal Reserve, and a mixed bag of corporate performances, notably the half-year results from the National Australian Bank (NAB). NAB’s figures painted a nuanced…

This surge in income tax, fuelled largely by bracket creep, has led to record tax collections for the Commonwealth. The impact of this tax burden has left many Australians feeling the pinch of a cost-of-living crisis. Shadow Finance Minister Jane Hume has expressed concerns about the escalating financial strain on…

However, a deeper dive into the data reveals a more nuanced story. Despite the marginal increase in the unemployment rate to 3.8 per cent in March, experts suggest that the labour market remains remarkably tight. Callam Pickering, APAC senior economist at Indeed, emphasizes this point, noting that even with a…

Small businesses in Australia have found themselves in a precarious financial situation, with billions of dollars owed to the Australian Taxation Office (ATO) in uncollected GST and withheld employee wages. Rob Heferen, the newly appointed commissioner of the ATO, has expressed deep concern over this mounting debt, which totals approximately…

As Swifties flocked to seven sold-out shows in Sydney and Melbourne, their enthusiasm reverberated through the economy, leaving statisticians to marvel at the consequential surge in spending. The Australian Bureau of Statistics (ABS) revealed that the influx of more than 600,000 concertgoers contributed to a staggering $35.9 billion in retail…

Godfreys, a stalwart in Australia’s retail landscape for nearly a century, has reached the end of its journey. After an arduous search for a buyer, administrators have announced the inevitable winding down of the company’s operations. Despite initial optimism fuelled by 55 expressions of interest, no viable offers materialized to…

The recently released climate risk assessment report by the federal government serves as a stark warning about the multifaceted threats posed by climate change. Detailing the potential impacts on various sectors including healthcare, finance, infrastructure, and national security, the report underscores the urgent need for action. According to Assistant Minister…

Thursday saw the Australian Stock Exchange climb to an “all-time high”, which was helped largely by strong gains in the Australian banking sector. Australia’s 4 main banks all rallied on Thursday, with Commonwealth Bank of Australia breaking company records. Ed Boyd, Business Report for Sky News, tempered the good news…