Ratings agency Fitch has warned China’s credit bubble is now unprecedented…. » Fitch says China credit bubble unprecedented in modern world history – The Telegraph, 16th June 2013. » China’s credit bubble is unprecedented: Fitch – The Sydney Morning Herald, 18th June 2013.
On Saturday, the Herald Sun reported the average W.A. job seeker has experienced a fifteen per cent fall in hourly rates from the same time last year. The average hourly rate is now $51.60 a hour, down from $59.80 a year ago. Geologists have seen the largest falls and can …
The month of May started with a 25 basis point cut in the official cash rate to 2.75 per cent, the lowest setting in 53 years. Real Estate experts were adamant this would put a pulse back in a directionless market. But rather, we have seen a sharp plunge in …
On Tuesday night, Professor Ross Garnaut delivered a speech to Victoria University’s 2013 Vice-Chancellor’s Lecture and dinner, titled “Ending the great Australian complacency of the early twenty first century.” It is a well-researched and candid view of Australia’s current economic position and the significant challenges we now face. The age …
If you were the Treasurer announcing your budget tomorrow, what would you cut and why?
Is it possible to grow a housing bubble the size of Australia’s with prudent lending standards? So it probably comes with little surprise when Denise Brailey from the Banking and Finance Consumers Support Association (BFCSA) suggests there could be an estimated $100 billion worth of toxic loans in Australia. Bill …
Treasurer Wayne Swan says it is “utterly irresponsible” to call today’s 25 basis point cut to the official cash rate as a cut to “emergency” levels. He is referring to the emergency low 3.00 per cent the cash rate reached after the collapse of Lehman Brothers and at the height …
Among the backdrop of growing budget deficits, the government struggling to fund Gonski and the National Disability Insurance Scheme (NDIS), the Australian Taxation Office (ATO) yesterday released figures showing negatively geared property investors lost a cool $13.285 billion in 2010-11 with much of this loss funded by the taxpayer. It …
ABC News 24 interviewed Dr Nigel Stapledon on the Australian Housing Market on Friday. The interview upload is courtesy of Macrobusiness. Dr Nigel Stapledon remarks, “Well Australia has been pretty lucky on the housing front in recent years. In the US we saw a major correction downwards in house prices, …
Stats out from the Australia Bureau of Statistics show continued weakness in the first home buyer segment. The portion of first home buyers taking out loans fell 1.5 per cent in February to make up only 14.4 per cent of the market. Analysis from ANZ show changes to first home …
Thursday morning I almost burn a hole in my shirt. I was ironing my daily attire when Steve Mickenbecker from Canstar joined Kochie on Sunrise to talk about if it is cheaper to rent than buy. Kochie introduced the segment with the following slide showing the stats over the past …
After last month’s anomaly, the unemployment rate for March has increased to 5.6 per cent, up 0.2 per cent. While 36,100 jobs were lost, a falling participation rate helped soften the headline increase. This compares to Roy Morgan’s unemployment rate of 10.8 per cent for March, down 0.1%. Contributing to …
Bank of Queensland CEO Stuart Grimshaw is just one of a growing number of individuals who can’t justify property prices in this country, and chose to rent instead. According to the Courier Mail, Mr Grimshaw rents a home in inner Brisbane. “Property in Brisbane is a bit expensive,” said Mr …
TV producer and freelance writer, Tom Whitty’s frustrations of living in the largest housing asset bubble in Australia’s history has gone viral today. What originated in the main stream media has spread rapidly to social media and forum sites around the country. At the time of writing this, it has …
Generous government incentives, cash rebates, flat screen televisions, motor vehicles, holidays and even cooking lessons have failed to prevent new home sales slumping 5.3 per cent in February according to data released today from the Housing Industry Association (HIA). Volatile unit sales fell 11 per cent, while detached homes fell …
House price statistics released today from RP Data shows the housing market is back in force with national dwelling prices increasing 1.3 per cent in the month of March and 2.8 per cent for the quarter. According to experts, this marks the “best” result in three years. If annualised, prices …
According to Bloomberg, the Australian Genworth Homebuyer Confidence Index has declined to 93.4 in March, down from 98.4 last recorded in September 2012. Despite lower interest rates, the number of borrowers who expect to hit mortgage repayment difficulties in the next year has spiked to 27 per cent in March …
Cyprus is the latest country joining the list with Greece, Ireland, Portugal and Spain to receive a bailout. While Cyprus only makes up 0.2 per cent of the Eurozone economy and the bailout is worth 10 billion euros, it is making news headline around the world for its unprecedented ‘levy’ …
QBE Insurance has been forced to withdraw building indemnity insurance from July after a rise in the number of builders becoming insolvent. Legislation in many states requires home builders to hold indemnity insurance to protect the property owner in the event the builder collapses, disappears or the builder passes away. …
Last Monday, we briefly reported on new regulations being introduced by the Chinese Government to help curb rampant property speculation and help put a lid on China’s property bubble. The shock move created jitters in world stock markets, including wiping approximately $21 billion from Australia’s resource lead bourse. The Chinese …
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