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Inflation Expected To Fall In 2023

Posted on 18/02/202317/02/2023 by Laze Spasevski

While inflation continues to be worryingly high, it may have peaked and is expected to fall in 2023. The Australian Bureau of Statistics’ latest data shows that inflation rose from 6.9% in October to 7.3% in November. In early December, the Reserve Bank of Australia (RBA) forecast that inflation would "peak at around 8%" in December. If that’s the case, inflation may already be coolin...
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Rise In Construction Costs Slowing Down

Posted on 13/02/202313/02/2023 by Laze Spasevski

Construction costs continue to rise sharply, but the worst is behind us as it appears to be slowing down. Residential construction costs rose 11.9% during 2022, after climbing 7.3% in 2021, according to CoreLogic’s Cordell Construction Cost Index (CCCI). The 2022 result was the largest annual increase on record, apart from the period impacted by the introduction of the GST. However, t...
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Rental Income Rose During 2022

Posted on 08/02/202308/02/2023 by Laze Spasevski

Rental market conditions have strongly favored property investors during 2022 as rental income rose significantly. CoreLogic has reported that the median rent for an Australia investment property increased 10.2% during the year. The city-by-city breakdown was: Brisbane4% Adelaide9% Sydney4% Perth2% Melbourne6% Hobart3% Darwin1% Canberra3% During 2022, the nation...
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Refinancing is at Record-High

Posted on 06/02/202306/02/2023 by Laze Spasevski

Refinancing activity is at record-high levels right now. According to another blog post, there are several reasons why borrowers are refinancing their home loans. The top reason is that owner-occupiers and investors alike are seeking home loans with lower interest rates as the Reserve Bank continues to raise the cash rate. Borrowers refinanced a record $19.5 billion of loans in November, the mo...
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Electric Vehicles Cheaper Are Now Cheaper

Posted on 05/02/202306/02/2023 by Laze Spasevski

Electric Vehicles are now cheaper after the federal government has passed the Electric Car Discount Bill through parliament. The bill removes the 5% import tariff for zero- and low-emission vehicles that are beneath the Luxury Car Tax Threshold ($84,916). The bill also provides a fringe benefits tax (FBT) exemption for eligible cars made available for employees by employers. For a veh...
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Construction Activity at Record High

Posted on 31/01/202306/02/2023 by Laze Spasevski

Australia is experiencing a “record high” construction activity across all sectors and states, according to Rider Levett Bucknall’s third-quarter construction report. The amount of construction work underway across Australia during Q3 was unprecedented with “similar levels of activity” forecast for the next two to three years. RLB said this building boom was being driven by: Federal...
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SMEs Optimistic About the Future

Posted on 26/01/202324/01/2023 by Laze Spasevski

SMEs are cautiously optimistic about the future, according to the Australian Banking Association's Small and Medium Enterprises Lending Report. The report, which surveyed businesses throughout the country, found an increase in the average value of loans in the year to July: Small business loans rose from $2.9 million to $3.4 million Medium business loans rose from $12.7 million to $...
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Majority of Homebuyers Using Mortgage Brokers

Posted on 24/01/202324/04/2023 by Laze Spasevski

An ever-growing majority of homebuyers are taking out home loans using mortgage brokers, rather than going direct-to-lender. Between July and September 2022, mortgage brokers facilitated 71.7% of all new residential home loans. This is a record share according to the research group Comparator. That compared to 66.9% the year before and 60.1% the year before that. Anja Pannek, the ...
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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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