News archive for December 2023

The holidays are a busy time on the roads, and it helps to know which offences can put a dent in your licence and your wallet.

According to CoreLogic, property prices have risen by +8.3% in the last year – more than completely recovering their -7.5% fall in 2022. Now, between interest rate rises and prices, home loan affordability is top of mind for Aussie home buyers.

With one week left to go before Christmas, Australians are being urged to check their car insurance policies before they hit the road to make sure they’re fully covered.

In an era of lenders raising rates, any cuts are always worth a look. Today online bank Up slashed interest rates on its fixed home loan terms by up to 65 basis points.

The latest data from the Australian Bureau of Statistics (ABS) shows the value of new home loan commitments was up 5.4% in October 2023. That’s a lot of new mortgages to pay off, despite an expensive housing market and a hefty ton of RBA rate hikes.

New ING research shows that most Aussie beachgoers (86%) say the rising cost of living has made them more likely to seek out free activities this summer, with more than half admitting that their main reason for spending time at the beach is because it's free.

The property market has been hard to get a fix on in 2023. Despite the higher cost of living and slumping consumer sentiment, property prices in popular areas have continued to climb.

With the new year fast approaching, you’ve probably been thinking about what financial resolutions to adopt. While a lot of goals make sense, there’s one that you should consider as the foundational element—budgeting.

Property market predictions for 2024 tip the new year as a winner for existing homeowners, as affordability grows worse for have-nots, according to Domain.

Interest rates who? According to property watchdog PropTrack – the research arm of realestate.com.au – Australian housing values grew 5.5% throughout 2023, despite housing affordability plummeting to “its lowest level in decades.”

There are a lot of costs associated with the Christmas period. From presents, food, drinks and Christmas events, it can all really add up and put a strain on your wallet.

Key Points

The Australian government is planning big changes to the superannuation system and has issued a consultation paper asking for everyone's ideas on how to improve the system’s ‘retirement’ phase.

After breaking the rate hold with a hike in November, the “data dependent” Reserve Bank of Australia has decided to leave the official cash rate on hold at 4.35% for December. For homeowners, this means there is no official rate hike for the holiday season.

Mortgage lenders have wasted little time in passing along the November Reserve Bank rate hike – a hike that broke a five-month dry spell for home loans.

“In the summertime, baby, in the summertime – that is where I’ll be!” It’s officially summer, folks! Which means that office Christmas parties, family events, and other end-of-year festivities are well underway.

As the year comes to a close and we reflect, some of us might be thinking about how we might better go about achieving our savings goals. You might not realise it but savings accounts aren’t the only tool in our financial belt.