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Prices Rising in 88.4% of Suburbs

Australia has hundreds of different property markets, which are often at different points in their cycle, so it’s common for there to be many markets where prices are increasing and many where they’re decreasing. Right now, though, the vast majority are in growth mode.   An analysis of 4,625 house and unit markets around the […]

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Home Loan Commitments Rise to 13.3%

The value of new mortgage borrowing is continuing to increase, as more buyers enter the market and property prices – and therefore loan sizes – keep rising.   Borrowers committed to $26.40 billion of home loans in February, according to the most recent data from the Australian Bureau of Statistics. That was 1.5% higher than […]

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Five ways to improve your company’s credit score

The higher your company’s credit score, the easier you’ll find it to qualify for finance and attract lower interest rates.   To improve your credit score, commercial credit reporting bureau CreditorWatch recommends: Learn how the system works. Credit scores are calculated based on a company’s financial stability, payment history and reputation, according to CreditorWatch. Order […]

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How to remain Tax-Compliant

The Australian Taxation Office (ATO) has reminded businesses of the importance of meeting their employer obligations, to avoid penalties and interest.   ATO tips included: PAYG withholding. Pay close attention to tax tables, as different workers may have different withholding rates. Single touch payroll (STP). Report payroll information through STP-enabled software each time you pay […]

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Growth in services process keeping inflation elevated

Price growth remains stubbornly high, with the Australian Bureau of Statistics reporting an inflation rate of 3.4% in January, the same as the month before.   The Reserve Bank of Australia (RBA) has been trying to reduce inflation to its target range of 2-3%, by raising interest rates to slow demand and reduce spending. Inflation […]

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Car buyers snapping up petrol-guzzling SUVs

Australia’s automotive industry has raised concerns about the federal government’s vehicle emissions scheme as motorists continue to favour relatively fuel-inefficient SUVs.   Motorists purchased 89,782 new vehicles in January 2024, which was 1.4% more than the previous January record (88,551) set in 2018, according to the Federal Chamber of Automotive Industries (FCAI).   SUVs accounted […]

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Businesses feeling the impact as consumers stop consuming

Households significantly cut back on their spending during the 2023 calendar year, Australian Bureau of Statistics data has confirmed.   Inflation increased 4.1% during 2023, but household spending increased only 2.3% during the same period, which means the average household made fewer purchases.   Household spending varied markedly from state to state, rising faster than […]

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