Reserve Bank governor Michele Bullock told a parliamentary hearing that inflation won’t return to its 2 to 3 per cent target until 2026 – a year later than the RBA predicted back in May.
In the midst of the housing and rental crisis, laws are being introduced to slow the frequency of rental increase imposed by landlords.
Interest rates, labour shortages and investor confidence are contributing to weak building approvals, but there are signs of recovery in detached homes.
Australia’s competition watchdog will not get directly involved in a stalemate that threatens to delay opening up the eConveyancing platform to competitors, as it’s not the relevant regulator.
The Federal Assistant Minister for Competition wants states to impose deadlines and penalties to ensure the reform of the lucrative electronic conveyancing industry stays on track. The call comes after the interoperability regulator stopped its decade-long work on the change that would dismantle the monopoly help by the publicly-listed PEXA.
Leaders Eva Lawlor and Lia Finocchiaro have gone head-to-head in a civil debate as the NT government prepares to enter election caretaker mode.
Victorian Liberal leader John Pesutto has used a speech to party faithful to pitch a crackdown on cultural heritage process delays to speed up housing builds.
After electronic conveyancing regulator ARNECC paused its decade-long work to facilitate interoperability in the industry and break a property settlement monopoly, two states bodies have vowed to push ahead with the reform.
The Australian president of CrowdStrike has apologised for the cybersecurity company's role in causing an outage that crippled global IT systems. Friday's outage, which hit an estimated 8.5 million Windows devices worldwide, was caused by a logic flaw in a software update sent by cybersecurity provider CrowdStrike to its customers, the company's Australian president Michael Sentonas told Sky News.
Clouds are finally starting to part for Australian tenants, with rents in most major cities either falling, stalling or growing at a slower pace. Low vacancy rates have pushed advertised rents higher for several months running but the latest report from real estate platform Domain shows conditions are improving for renters.
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