economy

“Creative financing and ownership model solutions” are needed to help more Australians afford homes, according to the shadow minister for financial services and superannuation.

CBA has proffered a timely cash-rate increase analysis while reporting its 1Q23 resi lending up $5.1 billion.

As escalating property prices outpace wage growth, saving for a home deposit could take a dual household more than five years.

Lower inflation and wages growth have meant Australia’s cash rate can move slower than its international counterparts, according to RBA governor Philip Lowe.

A recent deep dive into market trends has outlined some of the top trends impacting the global economy.

Economists from the big four bank believe the RBA will commence hiking the cash rate from September, tipping it will reach 2 per cent by the end of 2023.

Economists from the big four bank expect the Reserve Bank will hold off on raising the cash rate until wage growth accelerates, despite a spurt in inflation.

Fewer Australians are financially well compared to 12 months ago, according to new data, yet are more secure than they were pre-pandemic.

An emerging report has found further evidence that the Australian SME economy is comprised of many diverse regional markets.

Floods and other natural disasters cost Australia’s economy $5 billion, impacting two-thirds of Australians, the federal treasurer has revealed.

Despite facing challenges such as sticky inflation and lag effects of monetary policy, the Treasurer has declared Australia’s economic position as positive.

A “strong cyclical position” bodes well for Australia, but tightening is still needed, major UN agency the IMF, has assessed.

It can take more than six years to get new housing supply to market, with the government body warning that affordability hangs in the balance.

The Reserve Bank’s governor has insisted the board is “prepared to be patient” and to wait for the right conditions for a cash rate change.

The Morrison government has released its federal budget for the new financial year, including a range of initiatives targeting home ownership and housing affordability.

The Commonwealth Bank believes Australia will avoid a recession this year so long as the Reserve Bank ends its aggressive monetary tightening cycle. 

A “correction” in the housing market could be on the cards as interest rates lift, the former federal treasurer Peter Costello has suggested.

An array of customer-owned entities has come together to provide a banking hub for the residents of the Northern Rivers city, Lismore.

Financial scammers begin to prey on “distressed individuals”, as the widespread devastation from the floods across NSW and Queensland leaves thousands vulnerable.

An overall increase of consumer credit for December 2021 – up 4.7 per cent – was driven by personal loans while BNPL demand eased, according to new data.