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Australia Bureau of Statistics

Wages Increased 0.8% in the March Quarter

Posted on by Laze Spasevski
The wages of the average Australian worker increased 0.8% in the March quarter. This takes annual wages growth to 4.1%, according to the Australian Bureau of Statistics. The industries with the biggest annual increases in wages were: Health care & social assistance: 5.3% Electricity, gas, water & waste services: 4.4% Retail trade: 4.4% Transport, postal & warehousi...
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Variable-rate Loans Scaled to New Heights of Popularity

Posted on by Laze Spasevski
Variable-rate loans scaled to new heights of popularity, as demonstrated by the dramatic shift in borrowing trends. In March 2020, at the start of the pandemic, 13.38% of new borrowers chose fixed-rate loans and 86.62% chose variable. But in March 2024, a staggering low of only 1.40% of new loans were fixed, compared to 98.60% variable. This is based on the report by the Australian Bureau of S...
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Refinancing Topped $20bn

Posted on by Laze Spasevski
Refinancing activity has topped $20bn in August as revealed by the latest Australian  Bureau of Statistics (ABS). It is 3.9% lower than the month before but 12.4% higher than the year before. One major contributing factor to the rise of refinancing activity is due to lots of people coming off fixed rates right now. With this in mind, it’s no surprise that an enormous amount of refinancing i...
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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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