Tag: prices

  • Property prices are plunging in almost every capital city across Australia – see how your subur…

    Property prices are plunging in almost every capital city across Australia – see how your subur…

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    Property prices are plunging in almost every capital city across Australia – see how your suburb rates

    Cotality data shows median house prices fell in September as interest rates hit borrowing capacity

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    Housing prices are falling in almost every suburb in Australia’s biggest cities, with values dropping faster in Brisbane than Sydney as the slowdown intensifies.

    Prices nationally have fallen 5.2% from their peak in March to where they were a year ago, Cotality data released on Thursday shows.

    Economists say prices are on track to fall at least 10% after the Reserve Bank lifted rates for the fourth time this year on Tuesday, pushing more buyers out of the market.

    Australia faces 'biggest property downturn in 40 years', raising recession risk

    Cotality's Home Value Index fell 1.1 per cent in September taking cumulative declines to 5.2 per cent below March's peak. (ABC News: Declan Bowring)

    Experts warn the property market could experience peak-to-trough falls of up to 15 per cent nationally.

    Australian house prices fell for a sixth straight month in September, and experts say the property market could experience falls of up to 15 per cent in the coming months off the back of higher interest rates and cuts to housing tax breaks.

    Cotality's Home Value Index fell 1.1 per cent in September, taking cumulative declines to 5.2 per cent below March's peak.

    Brisbane saw the sharpest monthly drop among capitals (-1.5 per cent), while Sydney fell 1.4 per cent and Melbourne fell 0.7 per cent.

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  • Silver lining in plunging house prices | 101 Australian suburbs average homebuyer will lose after…

    Silver lining in plunging house prices | 101 Australian suburbs average homebuyer will lose after…

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    101 Australian suburbs average homebuyer will lose after rate rise

    A decision to hike interest rates by Reserve Bank governor Michelle Bullock could squeeze homebuyers out of more than 100 Aussie suburbs and towns.

    Australia’s average homebuyer is facing a 101 suburb wipeout on where they can afford a house if the Reserve Bank hikes interest rates on Tuesday.

    One rate cut is enough to wipe about $20,000 from the borrowing power of the nation’s typical homebuying household, taking them from being able to afford homes with $877,000 down to homes maxing out around $858,000.

    Analysis of impacts to borrowing capacities also shows that a second rate hike before the end of the year could leave those borrowers who can afford the nation’s average loan struggling to get a home worth $840,000 and at risk of no longer being able to access 236 areas around the nation that they can afford today.

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    Has the RBA already wiped out the home ownership gains from tax changes?

    The dream of home ownership is getting even more distant for many young Australians. (ABC News: John Gunn)

    A rate rise is estimated to cause an immediate 5 per cent reduction in home purchases.

    Economic modelling suggests the home ownership rate would fall by 0.3 of a percentage point and take more than a decade to recover.

    Markets and economists are almost certain the RBA will announce a rate rise on Tuesday.

    Each standard interest rate increase could be locking close to 30,000 households out of home ownership, some of them for more than a decade, research suggests.

    The modelling was conducted by James Graham, a senior lecturer in economics at the University of Sydney, along with Avish Sharma, a PhD candidate at Northwestern University who is a former analyst at the Reserve Bank of Australia.

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  • Diesel prices explode, Aussies feel the pinch | Commonwealth Bank warning as Aussie drivers face …

    Diesel prices explode, Aussies feel the pinch | Commonwealth Bank warning as Aussie drivers face …

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    Commonwealth Bank warning as Aussie drivers face more pain as oil prices surge

    Global oil and refined fuel markets are again surging with concerns the forced shutdown of a key oil pipeline in the Middle East will add to oil shortages and higher prices. Saudi Arabia says its East-West pipeline was hit by drones launched from Iraq, temporarily taking out the main route for Middle East oil bypassing the blockaded Strait of Hormuz.

    Traders say the closure of the pipeline could cut off as much as four per cent ‌of global oil supply unless ‌it is reopened within days while images ⁠from space show sections of the pipeline damaged by blazes. Riyadh has not given a firm estimate for how long it will be shut.

    Why you should fill up your car now

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    If you've been thinking about swinging by the servo, do it now. Or if you've been teetering on the edge of a jump into a hybrid or electric vehicle it looks like there's never been a better time to pull the trigger. 

    Recent drone attacks on the East-West oil pipeline in Saudi Arabia, allegedly from Iran-backed Houthi forces operating in Iraq, have led to a temporary shutdown of what was operating as an oil export bypass for the already constricted Strait of Hormuz.

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  • Sugar Prices Consolidate Recent Rally | India allows duty-free imports of 1 million metric tons o…

    Sugar Prices Consolidate Recent Rally | India allows duty-free imports of 1 million metric tons o…

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  • Soaring copper prices turn into bumper BHP payday as profits lift 9pc | BHP ready for copper boom…

    Soaring copper prices turn into bumper BHP payday as profits lift 9pc | BHP ready for copper boom…

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    Soaring copper prices turn into bumper BHP payday as profits lift 9pc

    BHP will pay its biggest dividend in four years as booming copper prices give it confidence to simultaneously reward shareholders and invest in several new mines.

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    BHP Group posts record FY26 earnings and flags copper-led future

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    The mining giant has delivered a record result thanks partly to its copper operations.

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  • Sydney fuel prices spike as excise discount ends | Petrol prices jump 16 cents per litre as fuel …

    Sydney fuel prices spike as excise discount ends | Petrol prices jump 16 cents per litre as fuel …

    Explore the latest developments concerning Sydney fuel prices.

    Sydney fuel prices spike as excise discount ends

    Fuel prices have tipped over $2 a litre in NSW hours after the Albanese government’s fuel excise discount came to an end, triggering fresh warnings of more increases as the prolonged conflict in the Middle East threatens global oil supply.

    The average price for regular unleaded passed the $2 mark on Monday morning after the fuel excise discount – delivering an approximate 17¢ saving – was withdrawn at midnight. The average national price for unleaded also rose above $2, the first time since May, according to Fuel Check.

    Prices on Monday morning were 13¢ higher than what was recorded in Sydney last week. Sydney petrol prices rose by an average of 2.9¢ a litre overnight, according to the NRMA, less than the 3.2¢ recorded nationally.

    Petrol prices jump 16 cents per litre as fuel excise cut ends

    The fuel excise cut is no more. The tax cut aimed at lowering petrol prices in the early stages of the US-Iran War has now been removed, adding 16 cents per litre to the price of fuel.

    The excise cut started at 32 cents in March, and fell to 16 cents in July. Now that the excise cut is gone, retailers will increase prices by at least 16 cents per litre in the coming days.

    Unleaded fuel prices could rise to around $2.20 per litre, and prices may rise even further if tensions between the United States and the Islamic Republic of Iran continue to mount.

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    With the fuel excise tax break gone, what next for fuel prices?

    It was a predicted shock – but a shock none the less for drivers this morning – with the Federal Government's temporary fuel excise tax break evaporating overnight. 

    So how long will it take for price rises to flow through to the bowser, and what supply headaches caused by the war in Iran still exist that will affect you next tank of fuel?

    Dr Lurion De Mello, senior Lecturer, Department of Applied Finance at Macquarie University

    With the fuel excise tax break gone, what next for fuel prices?(AAP: George Chan)

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  • Prices to jump at the bowser as fuel excise cut ends tonight | Petrol prices on track to top $2 a…

    Prices to jump at the bowser as fuel excise cut ends tonight | Petrol prices on track to top $2 a…

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    Prices to jump at the bowser as fuel excise cut ends tonight

    The excise cut was designed to "take some of the sting out of the cost-of-living pressures", the Treasurer said. (ABC News: Adam Griffiths)

    Drivers can expect a price increase at the petrol pump following the end of the federal government's fuel excise cut from midnight tonight.

    At the same time the rate will also undergo its twice yearly inflation indexation.

    From April 1 the fuel excise was reduced from 52.6 cents a litre to 20.6 cents a litre, a 32 cents per litre discount to wholesale fuel prices which was due to end in July.

    The support measure was then extended to August 2. However, the excise rate was lifted to 36.6 cents a litre, meaning the discount at the pump was reduced to 16 cents a litre.

    Petrol prices on track to top $2 a litre as Bowen sounds death knell for fuel excise relief

    Petrol now costs more than $1.90 a litre in every capital city, with diesel expected to exceed $2.40 a litre

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    Petrol prices could surpass $2 a litre and diesel $2.40 in coming days, after the government’s 16-cent discount ends on Sunday.

    The 32-cent per litre reduction in fuel excise, introduced in March at the peak of the fuel price spike, was halved to 16 cents in July.

    The excise will return to its normal level on 3 August, adding 16 cents per litre to the wholesale prices paid by service stations.

    Chris Bowen, the energy minister, told reporters on Saturday the government would not extend the temporary cost-of-living relief.

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    Petrol price rises again

    Petrol is nudging $2 across Sydney and motorists are bracing for a further hit with the last of the government's fuel excise cuts to go.

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  • For decades Australian house prices have grown. This is what a fall could mean | Looks like I bou…

    For decades Australian house prices have grown. This is what a fall could mean | Looks like I bou…

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    For decades Australian house prices have grown. This is what a fall could mean

    After decades of growth Australian house prices are slowing. Here's what a fall could look like.

    Following a shake-up to negative gearing and the capital gains tax (CGT) discounts, the housing market has stalled and auction clearance rates are down.

    There's some consternation among investors and home owners about a decrease in property values — and their concerns are backed by the big banks.

    NAB has predicted a 2 per cent drop across major capital cities, while Commonwealth Bank has revised their growth estimate to 3 per cent, down from 5 per cent.

    Prices are already sliding, with a reported 1.2 per cent decrease in Sydney last month alone.

    Looks like I bought at the peak of the housing market, but that’s OK

    I shouldn’t be celebrating the slowdown of the Australian property market. I just bought my first home six months ago and am mortgaged up with nearly half of my income going towards repayments. If you count the strata fees, my housing costs are closer to 60 per cent of my pay cheque after tax.

    Is that fun? Well, not hugely. And I’d be lying if I said the habit I picked up during my house-hunting days of checking the going prices in my area, and my building, has disappeared. I still regularly scan real estate listing websites to see whether I snagged a bargain – hint: I didn’t – and to get an indication about whether the decades of mortgage repayments ahead of me will be made up for by growth in the value of my property when (hopefully one day) it comes time to upsize.

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  • For decades Australian house prices have grown. This is what a fall could mean | Australia enters…

    For decades Australian house prices have grown. This is what a fall could mean | Australia enters…

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    For decades Australian house prices have grown. This is what a fall could mean

    After decades of growth Australian house prices are slowing. Here's what a fall could look like.

    Following a shake-up to negative gearing and the capital gains tax (CGT) discounts, the housing market has stalled and auction clearance rates are down.

    There's some consternation among investors and home owners about a decrease in property values — and their concerns are backed by the big banks.

    NAB has predicted a 2 per cent drop across major capital cities, while Commonwealth Bank has revised their growth estimate to 3 per cent, down from 5 per cent.

    Prices are already sliding, with a reported 1.2 per cent decrease in Sydney last month alone.

    Australia enters ninth housing downturn, but will it last long?

    The Australian property market has entered its ninth downturn, but the history books offer hope for hard-pressed vendors.

    New analysis released today by Domain forecasts the country’s two biggest property markets would be hit hardest, with Sydney house prices falling 7 per cent and Melbourne by 8 per cent in the new financial year.

    Domain data says the housing market has officially entered its ninth downturn. Peter Rae SMH

    While would-be buyers are exposed to borrowing constraints in these markets, prices in more affordable Brisbane, Perth and Adelaide are expected to keep growing.

    House values have been taking a caning during past months due to three consecutive interest rates, changes to capital gains tax and negative gearing, as well as the impact to consumer confidence of the US-Iran war.

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  • Petrol, diesel prices drop: ‘Cheapest in 5 yrs’ | Chalmers insists ‘widow’s tax’ will b…

    Petrol, diesel prices drop: ‘Cheapest in 5 yrs’ | Chalmers insists ‘widow’s tax’ will b…

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    Chalmers insists ‘widow’s tax’ will be addressed, defends auction slump

    Qatar talks with Iran will be ‘perhaps important, perhaps not’: Trump

    Liberal Senator Jonno Duniam says “you can bet your bottom dollar” that Labor will eventually go ahead with a proposal to expand super payments to under-18s working less than 30 hours per week.

    Treasurer Jim Chalmers said on Tuesday that it wasn’t the government’s immediate priority but Labor would continue to engage with young people and the unions over the proposal.

    Liberal senator Jonno Duniam says Labor has essentially admitted they will make the change. Dominic Lorrimer

    “On whether the government, the people who control whether this happens or not, are going to do it – I think you can bet your bottom dollar they will,” Duniam told Sky news.

    Fuel excise explained

    On 1 July, the government’s fuel excise discount was extended at a reduced rate of 16 cents per litre (cpl) – it’s been 32cpl since April – the move is part of a gradual return to full priced fuel.

    So, how does the fuel excise work? Where does the funding go? How does global conflict impact fuel prices? 

    We put these questions to RACQ Principal Economic and Affordability Specialist Dr Ian Jeffreys. 

    How much will you save on a tank of fuel with the reduced excise discount?

    With a reduced 16cpl excise discount, motorists will save around $9 per fill up, based on a 50-litre tank compared to the full excise rate. At the previous 32cpl excise discount, drivers were saving $18 per tank.

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