Allowing time for the impact to flow through would be sensible. Inflation is falling, it’s just not yet visible in official figures
‘The drop in home loans has been quite dramatic … No one is shocked by this development – it is what always happens when interest rates rise.’‘The drop in home loans has been quite dramatic … No one is shocked by this development – it is what always happens when interest rates rise.’T
he economy is still affected by the pandemic, and yet some things remain normal – rate rises make it more expensive to take out a loan and cool the housing market. The latest home loan figures should provide theTo gauge the impact of the pandemic on our economy you could do worse than look at what Australians are borrowing money for when they take out a personal loan.
Incidentally $750,000 is the average home loan value in New South Wales – down around $50,000 from the recent peak:In all states except South Australia the average mortgage size has fallen, as in turn have average house prices. And because the total value of housing finance across the nation is falling, house prices will continue to fall:This is important because the price of home loans and then house prices is the area most directly affected by the Reserve Bank and interest rates.
Clearly the 300 basis points in the cash rate increase in eight months has had an impact. And yet this is unlikely to be seen in the inflation figures, which is what the Reserve Bank is actually trying to lower.Our Australian afternoon update email breaks down the key national and international stories of the day and why they matterNewsletters may contain info about charities, online ads, and content funded by outside parties.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘Zoomers’ want Sky News Australia ‘cancelled’ over Australia Day TikTokSky News host Paul Murray says “zoomers” appeared to hate Sky News Australia’s TikTok, slamming Greens Senator Lidia Thorpe’s Australia Day tweet, where she questioned who would be celebrating “invasion, murder and theft”. He said these people want Sky News Australia “cancelled”. “A website run by a bunch of middle-aged people pretending to be young, Pedestrian TV, decided to show the hate towards the one about Australia Day, in part because it was made by us here at Sky News,” he said.
Read more »
School attendance rates across Australia drop below 50 per centNew data shows attendance at schools across Australia has dropped to below 50 per cent, with two million students skipping more than ten per cent of their classes last year. The data came about as a result of a “combination of illness” and “school refusal”, according to The Australian’s Education Editor Natasha Bita. “It’s very easy to blame lazy parenting for this, but it’s a very real phenomenon, and it’s worsened over COVID during the pandemic and the lockdowns,” she told Sky News Australia. “A lot of it is anxiety; kids are just overwhelmed to go back to school. “Others have fallen so far behind in their school work that they’ve given up.”
Read more »
Australia gets 11 new billionaires as wealth gap widensWhile ordinary households struggle with cost of living pressures, just 42 Australians now have a combined wealth of close to $236 billion – and that included 11 newly minted billionaires.
Read more »
Israeli forces kill 14-year-old Palestinian boy in West BankArmy says soldiers opened fire in refugee camp near Bethlehem after people threw molotov cocktails at them
Read more »
This Is Australia: First Nations dancers remake Childish Gambino’s This Is AmericaDance company Marrugeku has put together a blistering Australian take on the hit song and video, taking in our colonial past and our treatment of refugees
Read more »