Governments at all levels in Australia need to carry out drastic productivity reforms and stop relying on the benefits of the mining boom. If labor productivity growth cannot return to the long-term average of 1.5% from 0.7% in the 2012-2019 fiscal year, Australia’s per capita GDP will fall by A$33,000 before 2055, leading to a…
New data shows that during the COVID-19 pandemic, the number of sellers in Melbourne who lowered their asking prices increased nearly fourfold, but the discount rate remained stable. New data released by Domain on Thursday showed that although more sellers have lowered their asking prices, their actual discounts have stabilized at around 4% in the…
According to the “Daily Telegraph” report, first home buyers eager to buy a house are rushing to apply for the federal government’s first home loan down payment program. New data released by the National Housing Finance and Investment Corporation (National Housing Finance and Investment Corporation) shows that more than half of the second batch of…
After discovering errors in the translation of key health information, the Victorian government announced that it would spend 14.3 million yuan to better support multicultural communities through the new crown crisis. The new grants announced this Thursday afternoon include 6.9 million for organizations that provide specific cultural assistance on-site, 2 million for translation and interpretation…
SQM Research, a well-known Australian real estate research organization, released a report saying that due to a large number of white-collar workers working from home, the rental situation of CBD apartments in Australia was dismal in July, while the vacancy rate of the housing rental market in the outer suburbs and remote areas declined. The…
ABS chief economist Bruce Hockman said: “Despite the rebound in lending activity, after a sharp decline in April and May, the amount of housing loan commitments in June still fell by more than 10% compared to March.” Despite the market rebound. , But the fourth phase of restrictions related to the Melbourne epidemic is expected…
Before experts agree to relax restrictions safely, Victoria’s daily number of new cases must fall below 20, but this milestone may not be too far away. The authorities do not rule out extending the current lockdown period. Governor Daniel Andrews said earlier this week that there is no “magic number” that must be unblocked once…
Victorians’ appeal to extend the federal government’s $25,000 HomeBuild plan was approved. The preliminary plan of the plan stipulates that applicants should start construction within three months after signing the contract. According to the fourth phase of COVID-19 restrictions, national tax experts have extended the period by six months. Although the extension will not change…
On Tuesday, the Reserve Bank of Australia kept the cash rate at 0.25%, but experts urged borrowers to seek cheaper deals. The latest analysis of financial services company Canstar surveyed 1,000 Australians and found that: The average interest rate paid by respondents for their own homes is 3.73%. The average investment loan interest rate paid…
Non-essential retail stores are closed, and permits for work and childcare are required. The list of permitted industries was updated again this morning. Moreover, work permits cannot be issued at will. Companies that issue permits to unqualified employees are fined up to $99,123, and individuals face fines up to $19,826. Employees in essential industries such…