In order to help Australia recover from the economic contraction caused by the epidemic, the Bank of Australia (RBA) announced on the 3rd that it will lower the official cash rate to a record low of 0.1% and announced a series of other measures. ABC News reported that the Reserve Bank of Australia announced on…
The ANZ Bank (ANZ) will implement the most ambitious net-zero emission initiative among the four major banks, and will use climate change as a condition for loans to increase pressure on farmers, construction companies and a series of companies to require them to formulate low-carbon emissions by next year Transition plan. The release of the…
According to a survey conducted by the National Australia Bank (NAB), the Australian Business Conditions Index (mainly measuring sales, profits and employment) rose by 22 points to -4 points in the third quarter of this year, with the employment status index being the lowest at -14 points. The survey also showed that the business confidence…
Since Covid-19 struck, Australian house prices have been rising, entering a neutral or positive zone for the first time. According to Domain’s latest quarterly report, first-time homebuyers are driving demand for homes that are being introduced to the market due to low interest rates, tax cuts, and preferences for changes in life after lock-in. In…
Although housing prices in the largest housing market have been suppressed, housing prices in many urban areas in Australia have risen strongly, and some have soared to historical highs, demonstrating their strong resilience in the face of the epidemic. According to the Australian Financial Review report, CoreLogic’s analysis data shows that Dubbo, a small town…
Stephen Halmarick, chief economist at the Commonwealth Bank of Australia (CBA), predicts that the Reserve Bank of Australia will announce a more accommodative monetary policy at its board meeting next Tuesday, setting the cash rate, three-year bond target yield and long-term financing facility (TFF) targets The interest rate was reduced from 0.25% to 0.1%. Previously,…
According to the Domain Rent Report, the median weekly asking rents for detached houses and units in Melbourne were A$440 and A$400, respectively, up 2.3% and 4.8% year-on-year. In the Glenelg area on the border of South Australia, the asking rent for a single house was $350 in the September quarter, an increase of 16.7%…
Based on the budget boost to business and consumer confidence, as well as the signs of employers and employees shifting from employment subsidies to full-pay employment, this is a major and bold call. Entering next year, Morrison has three major advantages: commitments, credibility accumulated in dealing with the epidemic, and early signs of economic recovery.…
The Reserve Bank of Australia has actually given the green light for real estate investment. One day after the Bank of Australia Governor Philip Lowe delivered a speech, the market share competition of mortgage agencies has led to a sharp rise in housing prices. Dr. Lowe said that record low interest rates will continue for…
In October, consumer confidence in the Australian real estate market soared. A consumer survey by Westpac Bank shows that with the support of the federal budget, people are confident in the real estate market. This survey shows that although the new crown epidemic has triggered a recession in Australia, housing price expectations and the index…