Comments Box SVG iconsUsed for the like, share, comment, and reaction icons

Victoria now ranked #1 🦘🏉🏆

Victoria has seized the number one ranking in the quarterly CommSec State of the States report, ending Tasmania’s run of nine consecutive wins.

CommSec assesses states by comparing their current performance with their long-term averages, based on eight indicators:

* Unemployment = Victoria ranked #1
* Retail spending = Victoria
* Housing finance = ACT
* Equipment investment = ACT
* Dwelling starts = South Australia
* Construction work = South Australia
* Population growth = Queensland
* Economic growth = Western Australia

CommSec chief economist Craig James said that while Victoria now tops the rankings, there is little separating the top four economies.

“Victoria leads the way on two of the eight economic indicators. But showing how even the rankings are, the ACT and South Australia also each lead other economies on two of the eight indicators," he said.

“When looking at annual growth to get a guide on economic momentum, Queensland had annual growth rates that exceeded the national average on all of the eight indicators.”

#economy #money #jobs
... See MoreSee Less

Victoria now ranked #1 🦘🏉🏆Victoria has seized the number one ranking in the quarterly CommSec State of the States report, ending Tasmania’s run of nine consecutive wins.CommSec assesses states by comparing their current performance with their long-term averages, based on eight indicators:* Unemployment = Victoria ranked #1
* Retail spending = Victoria
* Housing finance = ACT
* Equipment investment = ACT
* Dwelling starts = South Australia
* Construction work = South Australia
* Population growth = Queensland
* Economic growth = Western AustraliaCommSec chief economist Craig James said that while Victoria now tops the rankings, there is little separating the top four economies.“Victoria leads the way on two of the eight economic indicators. But showing how even the rankings are, the ACT and South Australia also each lead other economies on two of the eight indicators, he said.“When looking at annual growth to get a guide on economic momentum, Queensland had annual growth rates that exceeded the national average on all of the eight indicators.”#economy #money #jobs

Regions outperforming capitals 👩‍🌾🆚🏙️

Regional property markets have significantly outperformed capital city markets over the past year, according to PropTrack.

Over the year to June, the median property price increased 19% in regional areas and 9% in the capital cities – continuing a trend that began in 2020, at the start of the pandemic.

"Regional areas have benefited from relative affordability and preference shifts towards lifestyle locations and larger homes following the pandemic," according to PropTrack.

"The strength in regional areas has been particularly evident in Queensland, South Australia and Tasmania, where growth has been above 20% outside the capitals over the past year.

"The smaller capitals of Brisbane and Adelaide have also seen strong growth off the back of the same trends. Brisbane and Adelaide have posted annual growth of close to 23% over the past year – bucking the trend amongst capitals in 2022."

#property #realestate #homeloans
... See MoreSee Less

As inflation rises, so will interest rates 📈🤔🔮

Australia's headline inflation rate, or consumer price index (CPI), rose from 5.1% to 6.1% in the June quarter, according to new data from the Australian Bureau of Statistics.

Meanwhile, the underlying (or trimmed-mean) inflation rate rose from 3.7% to 4.9%,

The Reserve Bank of Australia board will be paying close attention to these results, because one of the RBA's main goals is to keep trimmed-mean inflation sustainably within a target range of 2-3%. The only way the RBA can reduce inflation is to increase the cash rate, because that leads to higher interest rates and, in turn, reduced economic activity.

The RBA board spent much of its July monetary policy meeting talking about the link between inflation and interest rates, according to minutes of the meeting.

"The board remains committed to doing what is necessary to ensure that inflation in Australia returns to the target over time," the minutes revealed.

"Members viewed it as important that inflation expectations remained well anchored and that the period of higher inflation be temporary. If medium-term inflation expectations were to adjust upward, the task of returning inflation to the target would be more difficult and would come at a higher cost in terms of activity and employment."

That means the RBA is almost certain to make further increases to the cash rate, starting at its next board meeting this afternoon Tuesday August 2 at 2pm.

What is your prediction? .5%? .75%?

Let us know in the comments

#economy #property #homeloans
... See MoreSee Less

As inflation rises, so will interest rates  📈🤔🔮Australias headline inflation rate, or consumer price index (CPI), rose from 5.1% to 6.1% in the June quarter, according to new data from the Australian Bureau of Statistics.Meanwhile, the underlying (or trimmed-mean) inflation rate rose from 3.7% to 4.9%,The Reserve Bank of Australia board will be paying close attention to these results, because one of the RBAs main goals is to keep trimmed-mean inflation sustainably within a target range of 2-3%. The only way the RBA can reduce inflation is to increase the cash rate, because that leads to higher interest rates and, in turn, reduced economic activity.The RBA board spent much of its July monetary policy meeting talking about the link between inflation and interest rates, according to minutes of the meeting.The board remains committed to doing what is necessary to ensure that inflation in Australia returns to the target over time, the minutes revealed.Members viewed it as important that inflation expectations remained well anchored and that the period of higher inflation be temporary. If medium-term inflation expectations were to adjust upward, the task of returning inflation to the target would be more difficult and would come at a higher cost in terms of activity and employment.That means the RBA is almost certain to make further increases to the cash rate, starting at its next board meeting this afternoon Tuesday August 2 at 2pm.What is your prediction? .5%? .75%?Let us know in the comments#economy #property #homeloans

Vacancy rate remains at ultra-low 1% 🏘️👨‍👩‍👦‍👦⏬

The rental market continues to heavily favour landlords, but conditions have eased ever so slightly for tenants in some cities.

The national vacancy rate (which measures the share of empty rental properties) was an ultra-low 1.0% in June, the same as the previous month, according to SQM Research.

However, vacancy rates increased in Hobart (by 0.2 percentage points), Sydney, Adelaide and Canberra (by 0.1 points).

At the same time, vacancy rates fell in Brisbane (by 0.1 points) and remained unchanged in the other capitals.

The vacancy rate reflects the balance of market power between landlords and tenants:

* Above 3% = a tenant’s market
* Between 2-3% = a balanced market
* Below 2% = a landlord’s market

#property #realestate #homeloans
... See MoreSee Less

Vacancy rate remains at ultra-low 1% 🏘️👨‍👩‍👦‍👦⏬The rental market continues to heavily favour landlords, but conditions have eased ever so slightly for tenants in some cities.The national vacancy rate (which measures the share of empty rental properties) was an ultra-low 1.0% in June, the same as the previous month, according to SQM Research.However, vacancy rates increased in Hobart (by 0.2 percentage points), Sydney, Adelaide and Canberra (by 0.1 points).At the same time, vacancy rates fell in Brisbane (by 0.1 points) and remained unchanged in the other capitals.The vacancy rate reflects the balance of market power between landlords and tenants:* Above 3% = a tenant’s market
* Between 2-3% = a balanced market
* Below 2% = a landlord’s market#property #realestate #homeloans

Most listings now reference energy efficiency ⚡📝

The share of vendors using energy-efficiency keywords in their listings has increased from 49.7% in 2019 to 54.4% today, according to a Domain analysis.

EE keywords include: bio, conservation, cross ventilation, eco, eco homes, energy, grassed, insulation, north facing, orientation, rainwater tank, shade, shading, solar panel, sunny, sunroof, sunroom and zoning.

Interestingly, while more than half of sellers are now referencing energy efficiency, only 0.18% of buyers (i.e. 18 in every 10,000) are using EE keywords in their search.

"The priority it takes on a wish list is being overtaken by other home preferences, such as pool, view, waterfront, courtyard and granny flat," according to Domain.

That said, Domain also found energy-efficient homes attract more buyers, sell faster and are more likely to achieve a premium price.

#property #realestate #homeloans
... See MoreSee Less

Most listings now reference energy efficiency ⚡📝The share of vendors using energy-efficiency keywords in their listings has increased from 49.7% in 2019 to 54.4% today, according to a Domain analysis.EE keywords include: bio, conservation, cross ventilation, eco, eco homes, energy, grassed, insulation, north facing, orientation, rainwater tank, shade, shading, solar panel, sunny, sunroof, sunroom and zoning.Interestingly, while more than half of sellers are now referencing energy efficiency, only 0.18% of buyers (i.e. 18 in every 10,000) are using EE keywords in their search.The priority it takes on a wish list is being overtaken by other home preferences, such as pool, view, waterfront, courtyard and granny flat, according to Domain.That said, Domain also found energy-efficient homes attract more buyers, sell faster and are more likely to achieve a premium price.#property #realestate #homeloans
Load more