Laze Spasevski, Author at Australian Loans Group

Borrowers Favour Lower-Rate Variable Loans

Posted on 19/01/202313/01/2023 by Laze Spasevski

Borrowers favour the lower-rate variable loans right now. According to the October 22 data from Australian Bureau of Statistics, only 4% of borrowers fixed their loans (both new loans and refinances). Very few borrowers are currently fixing their home loans – unlike a year earlier when about half of borrowers were doing so. By contrast, 44% of borrowers fixed in October 2021 and 46% in ...
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Borrowers Are Refinancing Their Home Loans

Posted on 17/01/2023 by Laze Spasevski

Enormous numbers of borrowers are refinancing their home loans according to the latest data from the Australian Bureau of Statistics. Australians refinanced $17.8 billion of mortgages in October. This is not far off the record $18.6 billion of refinancing that occurred in August. It just shows that the past six months have been the six biggest months in refinancing history. Owner-occupie...
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Property Market Will Rise Again in 2023

Posted on 12/01/202312/01/2023 by Laze Spasevski

In the year to November 2022, the property market has declined but based on SQM Research forecast, it will rise again in 2023. The property market has changed significantly over the past 12 months. In the year to November 2021, the national median property price jumped 22.2%, according to CoreLogic. But in the year to November 2022, prices fell 3.2%. Some capital cities actually recor...
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ATO Intends to Collect Tax Debts

Posted on 19/12/202216/12/2022 by Laze Spasevski

The ATO (Australian Taxation Office) has put small businesses on notice that it intends to collect unpaid tax debts and crack down on tax evasion. ATO second commissioner Jeremy Hirschhorn said small businesses were responsible for 65% of the $37 billion in collectible (i.e. not disputed) debt. Mr Hirschhorn said that while the ATO took a relatively relaxed attitude to debt collection during...
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Economy Remains In Growth Mode

Posted on 17/12/202210/01/2023 by Laze Spasevski

The Australian economy remains in growth mode according to the latest national accounts figures of the Australian Bureau of Statistics. It is one of the three key pieces of data released by the bureau. First, the data shows that the economy grew 3.6%. That was the strongest growth figure in 10 years. This covers the 2021-22 period There are several factors affecting this growth. The numb...
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Household Spending Increased

Posted on 16/12/2022 by Laze Spasevski

September was the 19th consecutive month in which household spending increased, according to the latest data from the Australian Bureau of Statistics. Australians continue to be in a spending mood, and businesses throughout the economy are benefitting. And the level of spending in September was 28.0% higher than the year before – with increases occurring in all nine categories monitored ...
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Breakdown of Property Buyers

Posted on 12/12/2022 by Laze Spasevski

Home loan activity has fallen since earlier in the year, but Australian Bureau of Statistics’ breakdown of Property Buyers shows that first-home buyers have held up better than that of other buyer groups. Between April, when national property prices peaked, and August, the most recent month for which we have data, total home loan commitments fell 13.9%, according to the Australian Bureau of Sta...
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Rents Rising

Posted on 21/11/202223/11/2022 by Laze Spasevski

New analysis has revealed two big reasons why rents, which are already rising steeply, are set to continue increasing. First, the number of properties listed for rent is much lower than pre-pandemic, in both capital cities and regional areas, according to PropTrack economist Angus Moore. So supply has fallen. Second, Australian Bureau of Statistics data show a significant increase in mig...
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Tax incentives For Small Businesses

Posted on 28/10/202222/10/2022 by Laze Spasevski

The federal government has introduced draft legislation for two tax incentives for small businesses designed to help train employees and improve their digital capacity. The Technology Investment Boost will let small businesses deduct an additional 20% of the cost incurred on business expenses and depreciating assets that support their digital adoption, such as portable payment dev...
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Property Prices Increase In The Long-Term

Posted on 26/10/202222/10/2022 by Laze Spasevski

Property prices may go up or down in the short-term, but history suggests they increase in the long-term. That’s the key takeaway from a CoreLogic analysis of property prices over the 30 years to July 2022. Australia's median property price increased 382% during that 30-year period. Houses outperformed units (453% v 307%) and metro locations outperformed regional locations (409% v 294%)....
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