This month’s Australian Financial Review property summit contained the usual bluster on the need to lift Australia’s housing supply to meet demand. NSW planning minister Paul Scully accused anti-development residents in wealthy suburbs of NIMBYism and trying to lock future generations out of housing. Mike Zorbas, chief executive of the Property Council of Australia, heaped
When the Morrison government handed down the 2022-23 federal budget in late March 2022, shortly before that year’s federal election campaign kicked off, it was projected that net overseas migration for the full 2021-22 financial year would be 41,000. With only a little over 3 months remaining in that financial year at the time, it
By Lucinda Jerogin, Associate Economist at CBA The CommBank Household Spending Insights index recorded its sixth consecutive month of gains, lifting by 0.3% in August to be 5.0% higher annually. Business survey data reinforced our view that the Australian economy is recovering. Consumer sentiment was weaker in September after a strong result in August. Offshore,
Leading Sydney auctioneer and agent Tom Panos has issued a warning for Australian home buyers. Panos believes that Australia’s property market is the hottest it has been since the Covid boom and will only get worse once the Albanese government’s 5% deposit scheme for first home buyers comes into effect next month. In his weekly
International Reading: Las Vegas mayor says the city is suffering from a serious drop in Canadian tourists: ‘We need you, and we miss you’ – Fortune Hundreds of scared Arkansas farmers gathered to ask Trump for help — and plead with President to show ‘fruit’ of his love. What do they expect? – Money Wise