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Property Market Will Rise Again in 2023

Posted on by Laze Spasevski
Property Market Will Rise Again in 2023
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 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 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 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 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 by Laze Spasevski
Rents Rising
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 by Laze Spasevski
Tax incentives For Small Businesses
  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 by Laze Spasevski
Property Prices Increase In The Long-Term
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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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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