With housing prices soaring and mortgages growing, have you considered what may happen when interest rates increase? This article discusses how even a small rise in interest rates can impact your budget and what steps you can take to prepare yourself financially.
Is the Great Australian Dream of homeownership becoming a thing of the past? With the rise of remote work, freelancing, and the allure of a flexible lifestyle, many are opting to rent for life. Renting offers mobility, freedom from maintenance, and financial flexibility, but it lacks asset accumulation and long-term stability. The choice between renting and buying is deeply personal, influenced by individual priorities and life goals. Explore the pros and cons of renting for life and see if this modern lifestyle aligns with your aspirations.
The first quarter of 2024 saw significant economic developments in Australia. The government introduced changes to the Stage 3 Tax Cuts, aiming to provide greater benefits to middle-income earners. Inflation showed signs of easing, yet remained high in certain areas, prompting the RBA to maintain the cash rate at 4.35%. The stock market experienced record highs, while the property sector continued to face pressures with a national vacancy rate hitting a low of 0.7%. The labour market showed cooling trends with a shift towards part-time employment and a forecasted rise in the unemployment rate. This quarterly update highlights the dynamic economic landscape and the ongoing challenges and opportunities.
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