Economy

The Victorian government has released the 2021-22 state budget, which includes property tax hikes and mental health initiatives.

Australians’ financial wellbeing has hit an all-time high despite the pandemic, while the number of home owners with a mortgage is at the highest level in 25 years, according to CBA.

The Reserve Bank has announced its cash rate decision for May, a week before the release of the federal budget.

Measures to make home ownership more accessible, including tax-deductible interest for FHBs, a permanent FHLDS and access to super, are among the budget requests from the REIA.

As houses prices, housing finance and buyer demand continue on an upward trajectory, an economist has outlined why the property boom may fade in the years ahead.

The RBA has announced its official cash rate decision for the month of April.

Household wealth has recorded the highest quarterly growth rate since the December 2009 quarter, spurred by rising property prices, according to new data.

Treasury has supported ending the JobKeeper program while estimating that up to 150,000 recipients may lose employment at the end of the program.

The RBA has laid to rest any chance of a rate rise before 2024 despite expectations that other central banks could raise rates next year and in 2023.

The Queensland government and lenders have begun offering financial assistance to those affected by Cyclone Niran in Queensland.