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Finance
05/03/2017
Tens of thousands of first home buyers will no longer have to pay stamp duty on properties worth up to $600,000 under an Andrews government plan to make housing more affordable. Long-awaited reforms to be unveiled on Sunday will give new home owners savings of up to $15,000 by exempting them from stamp duty on new and existing properties, in a bid to help more Victorians to break into the expensive housing market. A $50 million pilot program will also […]
03/03/2017
The OECD has warned of a “rout” in Australian house prices, leading to a new economic downturn, saying both prices and household debt have reached “unprecedented highs”. The warning is in an otherwise positive biennial assessment released overnight that broadly mirrors the Australian Treasury’s. The survey says in real terms house prices have climbed to 250 per cent their level in the 1990s, with much of the increase taking place in the past few years, “straining affordability, especially for first-time […]
03/03/2017
IT LOOKS like a home isn’t the only thing struggling millennials might miss out on if they can’t rely on help from the ‘Bank of Mum and Dad’. And it’s all thanks to rising house prices. New research from the Australian Housing and Urban Research Institute (AHURI) by researchers from RMIT University and Curtin University has shown a correlation between university education and intergenerational wealth transfers through housing. The report, A new look at the channels from housing to employment […]
02/03/2017
Australia’s smashing growth may not be quite as good as it seems. It’s clear that China’s renewed resource binge has brought back the good times for our commodity-driven economy, emboldening households to ease up saving and ramp up spending. And the outlook for Asia’s biggest economy looks like it will remain good for some time: factory gauges are stronger and the Communist party this year holds a twice-a-decade reshuffle of senior leadership posts, so it must. But the robustness of […]