Business confidence at seven-year high
December 9, 2009
Businesses remain unperturbed by the impact of interest rates, if the latest business confidence survey is any guide, with confidence surging to its highest level in seven years. The sentiment reading enhances the prospect of strong business spending in the coming... Read more »
Mansion sets record for most expensive Australian residential property
December 9, 2009
A Perth mansion has been sold for an Australian record price this week. The property in the upmarket suburb of Mosman Park went for a staggering $57.5 million, with the sale settled today (December 9). The 7,567 square metre house had an original asking price of... Read more »
Home lending softer but better than expected
December 9, 2009
Home lending moderated in the month of October, with the value of home loans falling 1.4 per cent on seasonally adjusted terms. The ABS figures were slightly better than expected given the headwinds of higher interest rates and reduced stimulus measures. Analysts... Read more »
Rates to peak in 2011?
December 8, 2009
Economists predict the official cash rate set by the Reserve Bank of Australia to peak at a level around 5.5 per cent in 2011. The annual forecasting survey by Australian Business Economists (ABE), released this week, shows expectations of the cash rate steadily... Read more »
Weekend property market wrap
December 8, 2009
In what has become a regular occurrence, the property market has again seemingly shrugged off the impact of another interest rate rise. Clearance rates, which are a sound if not entirely accurate indicator of demand, basically remained unchanged from the weekend... Read more »
Queensland’s property market almost back in full swing
December 8, 2009
Queensland’s residential property market has regained the ground lost over the past year, according to the latest Real Estate Institute of Queensland (REIQ) median house sales data. The REIQ’s September quarter median prices show property price growth... Read more »
Housing affordability dips slightly in latest quarter
December 8, 2009
The latest Deposit Power Housing Affordability Report from the Real Estate Institute of Australia (REIA) has highlighted a small decline in housing affordability over the September quarter 2009 as house price growth makes an impact. “Although only marginal,... Read more »
First home owners continue to flood market
December 7, 2009
New figures out today showed more than 190,000 Australians had used the First Home Owners Boost to the end of October, with numbers failing to wane despite the reduction to the boost at the end of September. From October 1, the Boost reduced from $14,000 to $10,500... Read more »
Major banks incur wrath of Swan
December 6, 2009
Treasurer Wayne Swan has criticised some of the nation’s biggest banks in the wake of rate hikes above the official movement from the Reserve Bank of Australia. Westpac started the trend with a move (0.45%) almost double the official 0.25% increase from... Read more »
Small business confidence back at boom time levels
December 4, 2009
Australian business confidence has returned to the high levels enjoyed prior to the economic downturn, according to the Sensis Business Index released this week. The quarterly survey began in 1993 and provides the latest snapshot of small and medium enterprise... Read more »