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Australia's rental market is tighter than ever, with a new report from Domain showing the vacancy rate hitting an all-time low of just 0.7% in February 2024. What does this mean? Simply put, finding a place to rent is getting harder, with fewer available properties than we've seen in a long time.
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CoreLogic's latest figures signal a continued upward trajectory for house prices, with the national Home Value Index climbing by 0.6% in February, marking the most significant leap since last October.
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Asbestos has unexpectedly reared its ugly head in Sydney, with parks around the city being fenced off due to the discovery of asbestos-contaminated mulch. This situation, while primarily a public safety issue, offers a timely opportunity to exploring how home insurance deals with asbestos in various contexts.
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Insurance often finds itself at the centre of frustration when it comes to finances. In fact, a recent report by the Australian Financial Complaints Authority (AFCA) shows that comprehensive car insurance and home insurance are high on the list of consumer grievances, only surpassed by credit cards and personal transaction accounts.
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Insurance prices have seen their sharpest rise since March 2001, as indicated by the latest ABS Consumer Price Index (CPI). The 16.2% surge in insurance prices in the year leading up to December 2023 is almost four times greater than the overall rate of inflation, which stands at 4.1% for the same period.
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With Cyclone Kirrily on track to hit Queensland this week, residents are bracing for another major weather event, all too soon after being battered by Cyclone Jasper. Strong winds and widespread flooding are among the expected threats, prompting cautious preparations across the state.
In a landmark move, the New South Wales government, led by Premier Chris Minns, has announced a major shift in how emergency services will be funded, promising to replace the levy on home insurance with a wider, state-wide contribution method.
Two-thirds of Aussies are impacted by natural disasters, according to recent analysis from professional services firm, KPMG.
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In a recent ruling, the Australian Financial Complaints Authority (AFCA) has sided with an insurance company in denying a lost property claim, basing its ruling on the claimant's refusal to submit phone records to the insurer.
The cost of home insurance is on the rise and Australians in natural-disaster-prone areas are facing the brunt of the pressure, even resorting to canning their policies altogether.