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economic conditions

Homes Taking Slightly Longer to Sell

Posted on by Laze Spasevski
Homes selling slower, prices holding firm
Selling conditions in Australia’s housing market have shifted slightly, with homes taking slightly longer to sell. However, sellers are still achieving strong results. New data from Cotality shows that the median time to sell a home by private treaty rose to 30 days in the September quarter, up from 27 days a year earlier. A longer selling time typically signals a dip in buyer urgency. Howe...
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New Payday Superannuation Bill 2025

Posted on by Laze Spasevski
Payday super law to start from 2026
From 1 July 2026, employers will be required to pay super at the same time as wages, under the new Payday Superannuation Bill 2025. The reform is designed to help workers grow their retirement savings by ensuring super is paid more regularly. But for small businesses, especially those that pay staff weekly, it will mean new processes. Tighter cash-flow management and potential system upgrad...
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Many Borrowers Turning to Mortgage Brokers

Posted on by Laze Spasevski
Brokers fill gap as branches close
With bank branches closing as services move online, many borrowers are turning to mortgage brokers for personalized guidance that big institutions can no longer provide in person. The number of bank branches across Australia has fallen sharply, down 5% over the past year.  And a staggering 33% over the past five years, according to Canstar analysis of official banking data. With most tra...
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Unemployment Rate Rose to 4.5%

Posted on by Laze Spasevski
Unemployment Rises as Hiring Slows
Australia’s job market is showing clear signs of cooling as the unemployment rate rose to 4.5% in September. That is up from 4.3% in August and 4.0% a year earlier, according to the Australian Bureau of Statistics. While businesses are still hiring, job creation isn’t keeping pace with population growth. Over the past year, employment grew by 1.3%, but the number of unemployed people jumped...
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Australians Find Better Value in Building

Posted on by Laze Spasevski
Home Construction Rises as Conditions Improve
With established property prices climbing, more Australians find better value in building. This is reflected in new data from the Housing Industry Association (HIA), which shows new home sales rose 25.9% in September and 4.0% over the quarter. HIA chief economist Tim Reardon said lower interest rates, government incentives and rising property prices have made building comparatively more aff...
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Businesses Urged to Boost Productivity

Posted on by Laze Spasevski
Businesses Urged to Boost Productivity as Wages Rise
As wages rise faster than prices, giving households more spending power, businesses are urged to boost productivity. Average weekly ordinary time earnings for full-time adults hit $2010 in May 2025, which was 4.5% higher than the year before, and significantly more than the 2.1% annual inflation rate recorded in the June quarter. However, Australian Industry Group CEO Innes Willox st...
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RBA Cautiously Optimistic on Inflation

Posted on by Laze Spasevski
RBA Cautiously Optimistic on Inflation
Why the RBA is cautiously optimistic on inflation comes down to recent data showing Australia’s cost-of-living pressures have eased further, with inflation continuing to cool. This gives the central bank reason to be hopeful, while still remaining careful in its outlook. The Australian Bureau of Statistics reported headline inflation at 2.1% in annual terms – the lowest rate since 2021 and ...
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Rate Cut Increased Borrowing Power

Posted on by Laze Spasevski
Rate Cut Increased Borrowing Power
The decision by the Reserve Bank of Australia to cut the cash rate earlier this month means the average person's borrowing power has increased. Not only that, it has also lowered the repayments of most borrowers. With rates now lower, lenders are starting to adjust their serviceability buffers. That shift means borrowers can show they can afford more on paper, effectively lifting their borr...
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Labour Market Showing Signs of Strain

Posted on by Laze Spasevski
Labour Market Showing Signs of Strain
Australia’s labour market is showing signs of strain as it delivered a mixed result in June, with unemployment rising but more people entering the workforce, according to new data from the Australian Bureau of Statistics. The unemployment rate increased to 4.3%, up from 4.1% in May and 4.0% in June 2024 – marking the highest level since November 2021. The underemployment rate also ticked up...
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New Guidelines Supporting Customers with Financial Hardship

Posted on by Laze Spasevski
New Guidelines Supporting Customer with Financial Hardship
Australia’s banks have strengthened their commitment to supporting customers experiencing financial hardship, with new industry guidelines aimed at making assistance more compassionate and easier to access. The updated guidelines, which was released by the Australian Banking Association (ABA), outline best practice for how banks should assist customers who are under pressure. These could ei...
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