Australia – Page 3

Christmas gifts that won’t blow your budget | Money & Life

Christmas gifts that won’t blow your budget Christmas is a wonderful time of year in Australia, filled with summer foods, decorations and of course, gift giving. This year will feel even sweeter for many, as friends and family reunite for the first time in months, if not years. Here are a few ideas to help you stretch your Christmas gift budget further, so you can enjoy more family time, without the financial hangover. For many …

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Why is Australian housing so expensive and what can be done to improve housing affordability? | AMP Capital

Why is Australian housing so expensive and what can be done to improve housing affordability? Key Points The key drivers of poor housing affordability and high household debt levels in Australia have been low rates and poor housing supply. Macro prudential controls to slow home lending now look imminent. But this is just a cyclical measure. More fundamental measures to improve housing affordability need to focus on boosting housing supply and decentralising away from …

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1 million enough to retire

Is $1m enough to retire? A million dollars is a figure that’s often cited as the amount you need to retire. But while $1 million doesn’t go as far as it used to – it only goes slightly above the median house price in Sydney1 – for many people it still sounds like an impossibly large amount of money to save. In reality, there’s no set figure you need to have accumulated in savings, super, real …

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Five investment markets impacted by a big week in Australia

Five investment markets impacted by a big week in Australia It’s been a big week in Australia, with the central bank meeting and the government handing down one of the most significant Budgets in our history. For a detailed analysis of our thoughts on the Federal Budget, you can read a note from Shane Oliver and I. Here, we take a look at the outlook for some asset classes after a busy few days. 1. Cash and …

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What do July’s strong building approval numbers say about Australia’s growth prospects? | AMP Capital

What do July’s strong building approval numbers say about Australia’s growth prospects? Building approvals in Australia surged by 12% in July, up 6.3% compared to a year ago. This was a much stronger result than consensus expectations of a fall in the order of 2%, and follows a run of better than anticipated numbers since April’s low point. As an important leading indicator of national construction activity, and with implications for the lending sector as …

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GDP figures are creeping to Great Depression levels, but there’s more to the story | AMP Capital

GDP figures are creeping to Great Depression levels, but there’s more to the story On September 2, gross domestic product (GDP) data for the June quarter confirmed that Australia is experiencing its first recession since 1991. Australia has recorded backwards growth for the second quarter in a row, with Australian GDP falling by 7% in the June quarter. While the figure is better than forecasts a few months ago – about a 10% …

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The twilight zone: Australian house prices falling but worse to come

The twilight zone: Australian house prices falling but worse to come Average property prices across Australia’s capital cities fell for the third month in a row in July. The monthly fall, of 0.8%, means capital city prices have fallen 2% on average since their peak in April 20201. AMP Capital chief economist and head of investment strategy Dr Shane Oliver says average property prices rose by 10.3% between June 2019 and April 2020, but …

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Three reasons why the Coronavirus crisis might fix Australia’s housing affordability crisis | AMP Capital

Three reasons why the Coronavirus crisis might fix Australia’s housing affordability crisis Key points For more than a decade now Australia has had a chronic problem with poor housing affordability. While various things may have played a role the key driver of poor affordability in Australia has been a surge in population growth and an inadequate housing supply response. The coronavirus hit to the economy is driving yet another cyclical downturn in property prices. But …

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Help with your finances during the COVID-19 pandemic | Money & Life

Help with your finances during the COVID-19 pandemic Since the COVID-19 pandemic arrived in Australia in 2020, the Federal Government has made financial support available to individuals, households and businesses. Here’s an update on the latest announcements on these economic stimulus measures. You can check back here for regular updates on what’s happening that could help you with your finances. A huge number of people in Australia have experienced the financial impact of COVID-19. You, …

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What’s on the cards for Australia now that we have a second wave? | AMP Capital

What’s on the cards for Australia now that we have a second wave? The Reserve Bank of Australia (RBA) had its August board meeting on Tuesday 4th, and though there were no real surprises, I think we can expect more out of the central bank in the coming months. In its meeting, the RBA made mention of the situation unfolding in Victoria, which is sadly seeing COVID-19 infect more people in the state now than …