Economists at a major Australian bank have slashed their economic growth forecast for the March quarter to zero due to the impact of Omicron on activity.
INFLATION
The cost of building a home in Victoria is rising faster than in any other state, forcing a growing number of business failures.
Australia will reopen its international borders to more than 200,000 visa holders as it moves towards the final phase of the national reopening plan.
The RBA is playing patient as it eyes one of the most uncertain inflation outlooks since 2014.
Economists at Australia's largest retail bank are predicting a robust economic outlook, but have also warned of a build-up in inflation pressures.
The geniuses in the financial markets – and they must be geniuses because they’re paid far more than we are – think next year will be an absolute ripper.
In a statement, the RBA Board made no mention on refraining from rising interest rates until 2024, as it has for months.
Australian inflation grew by 0.8 per cent in the September quarter, largely driven by the rising cost of new homes and fuel.
Inflation expectations for the next two years jumped 0.3 percentage points to five per cent, the highest level since December 2014.
Australian Property Investor Magazine
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Rents across Australia took off in the last quarter but, strangely, rental yields actually fell.
When trying to grasp the many variables that will shape the property market in 2022, prospective investors are contending with a range of conflicting influences.
As the United Kingdom and United States experience a boom in foreign property investment, buyers from Asia and elsewhere are increasingly shying away from Australia.
Coastal and lifestyle suburbs, including luxury apartments, are showing no signs of easing up, according to developers and buyers’ agents.
Builders are turning to alternative construction materials to alleviate the massive carbon footprint being left by traditional structural constituents.
Westpac has become the first major bank this year to increase its fixed rates for owner occupiers and investors.
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