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Author: Laze Spasevski

BNPL Can Affect Your Borrowing Power

Posted on by Laze Spasevski
Are you planning on buying your own home? If you are using BNPL, it can affect your borrowing power when applying for a home loan. Australians are increasingly using credit cards and buy-now-pay-later services, which could potentially have implications when they make home loan applications. Credit card applications in the June 2022 quarter were 6.0% higher than the June 2021 quarter, accord...
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Buyers Remain Active

Posted on by Laze Spasevski
Buyers still remain active in the property market, judging by the latest home loans data from the Australian Bureau of Statistics. Borrowers signed up for $28.4 billion of new home loans in July. That was 11.3% lower than the previous year but 47.3% higher than the average over the previous 15 years. So while conditions are much more buyer-friendly than they were during the recent proper...
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Buyers Enjoying More Choice

Posted on by Laze Spasevski
more choice
Buyers are increasingly enjoying more choice, with a growing number of properties listed for sale in many parts of Australia. The number of for-sale properties across the country in July was 0.6% higher than the month before, according to PropTrack.   Even better, listings in July were 4.9% higher than the year before, which is the largest year-on-year increase since 2010. &nbs...
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Automotive Bodies to Electrify Vehicles

Posted on by Laze Spasevski
In a development that will delight many, Australia's peak national and state automotive bodies have reached agreement about how to electrify the country's fleet of cars, trucks and other vehicles. The organizations agreed to a series of principles, including: Embracing the electrification of the Australian motor vehicle fleet Maintaining the repair and efficiency of the legacy inter...
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Demand is Increasing For Office Spaces

Posted on by Laze Spasevski
Office Space
Demand is increasing for CBD office spaces. This signifies a reversal of the trend we saw emerge during the 2020 and 2021 Covid years where offices were left almost abandoned in many cities as businesses pivoted to work from home arrangements. However, when looking at the numbers they appear to be suggesting otherwise. Australia's CBD vacancy rate in the six months to July was 12.0%, com...
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Business Credit Applications Fell 2.0%

Posted on by Laze Spasevski
Business credit applications fell by 2.0%, according to the Equifax Quarterly Commerical Insights report for the June quarter. The number of business loan applications actually rose 2.0%, however, trade credit applications fell 2.3% and asset finance applications fell 9.1%. As a result, overall business credit applications has fallen by 2.0%, which was the first decline in five quarters,...
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Climate Change Bill and Real Estate

Posted on by Laze Spasevski
The Climate Change Bill 2022, will have significant implications for Australian real estate, once it gets approved by the Senate. The government's new climate change legislation, which has been approved by the House of Representatives, will enshrine into law an emissions reduction target of 43% from 2005 levels by 2030 and net zero emissions by 2050. Real Estate Institute of Australia pr...
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Interest Rates Update

Posted on by Laze Spasevski
  While variable interest rates are continuing to rise, with another 0.50% increase earlier this week, some lenders are actually cutting their fixed rates. Lenders started increasing their variable rates in May, once the Reserve Bank of Australia (RBA) began increasing its cash rate. However, lenders increased their fixed rates much earlier, in anticipation of future rate hikes and ...
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Tax Returns Are Ready

Posted on by Laze Spasevski
tax ready
Taxpayers' tax returns are ready to be lodged, as more than 80 million pieces of information are available in pre-fill.   The Australian Taxation Office said much of the information it collects from employers, banks, private health insurers, share registries, and other institutions have now been loaded into people's tax returns.   "While having this data ready to go cuts dow...
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ATO Cracking Down On Shadow Economy

Posted on by Laze Spasevski
The ATO is cracking down on the shadow economy by using tip-offs from members of the public. The Australian Taxation Office said it had received 43,000 tip-offs about black economy behaviour in the last financial year, with the most common reports being for businesses: Demanding cash from customers Paying workers in cash Making sales but not declaring them The industries that ...
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