Economy

Australia has the second-highest mortgage debt as a proportion of GDP among OECD nations, according to a new report.

A report has called for a royal commission and the Reserve Bank to address soaring house prices, warning that the Australian property market is threatening the nation’s economic future.

Credit agency S&P Global has upgraded Australia’s outlook from negative to stable, citing the government’s “swift and decisive fiscal and health response” despite sizeable deficits ...

The Minister for Financial Services has faced some pointed questions around the new Family Home Guarantee, with a senator blasting its recently revealed pricing limits.

The NHFIC has revealed the property price thresholds that are applicable to the Family Home Guarantee scheme announced in the 2021-22 federal budget.

Treasury has confirmed that more than 50,000 workers have lost their jobs since JobKeeper ended, but employment is tipped to continue rebounding alongside Australia’s economy post-COVID.

The central bank has announced its official cash rate decision for June, and said that it would be monitoring trends in housing borrowing “carefully”.

Due to COVID-19 restrictions in Victoria, the Melbourne leg of the Better Business Summit and Better Business Awards 2021 has been moved to July.

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.