How Australian spending patterns are changing
Kanebridge News
    HOUSE MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $1,638,545 (+0.82%)       Melbourne $1,023,679 (+1.75%)       Brisbane $1,038,818 (+0.18%)       Adelaide $951,068 (+0.69%)       Perth $923,390 (-0.21%)       Hobart $759,192 (-0.42%)       Darwin $769,355 (-0.10%)       Canberra $964,485 (-0.83%)       National $1,074,245 (+0.50%)                UNIT MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $777,604 (+1.00%)       Melbourne $478,404 (+0.18%)       Brisbane $668,589 (+0.89%)       Adelaide $498,047 (-0.58%)       Perth $519,492 (+1.90%)       Hobart $528,197 (-0.03%)       Darwin $378,865 (-1.17%)       Canberra $494,950 (+0.08%)       National $567,655 (+0.60%)                HOUSES FOR SALE AND WEEKLY CHANGE     Sydney 11,855 (+190)       Melbourne 14,114 (-991)       Brisbane 8,271 (+242)       Adelaide 2,797 (+147)       Perth 7,549 (+147)       Hobart 1,213 (+7)       Darwin 181 (-4)       Canberra 1,228 (+25)       National 47,208 (-237)                UNITS FOR SALE AND WEEKLY CHANGE     Sydney 9,100 (+118)       Melbourne 6,842 (-31)       Brisbane 1,703 (+24)       Adelaide 418 (+32)       Perth 1,696 (+19)       Hobart 245 (+15)       Darwin 279 (+8)       Canberra 1,140 (-4)       National 21,423 (+181)                HOUSE MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $800 ($0)       Melbourne $590 ($0)       Brisbane $650 ($0)       Adelaide $620 ($0)       Perth $695 (-$5)       Hobart $555 (-$15)       Darwin $780 (+$20)       Canberra $700 ($0)       National $684 (+$1)                UNIT MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $750 ($0)       Melbourne $600 ($0)       Brisbane $650 (+$5)       Adelaide $525 (+$25)       Perth $650 ($0)       Hobart $480 (-$13)       Darwin $570 (+$5)       Canberra $570 (-$10)       National $610 (+$1)                HOUSES FOR RENT AND WEEKLY CHANGE     Sydney 6,415 (-92)       Melbourne 8,122 (-49)       Brisbane 4,023 (-50)       Adelaide 1,424 (-45)       Perth 2,128 (-99)       Hobart 232 (+21)       Darwin 103 (-17)       Canberra 559 (-41)       National 23,006 (-372)                UNITS FOR RENT AND WEEKLY CHANGE     Sydney 9,115 (-492)       Melbourne 6,656 (-238)       Brisbane 2,047 (-142)       Adelaide 349 (-56)       Perth 639 (-48)       Hobart 107 (+5)       Darwin 178 (-21)       Canberra 550 (-3)       National 19,641 (-995)                HOUSE ANNUAL GROSS YIELDS AND TREND         Sydney 2.54% (↓)       Melbourne 3.00% (↓)       Brisbane 3.25% (↓)       Adelaide 3.39% (↓)       Perth 3.91% (↓)       Hobart 3.80% (↓)     Darwin 5.27% (↑)      Canberra 3.77% (↑)        National 3.31% (↓)            UNIT ANNUAL GROSS YIELDS AND TREND         Sydney 5.02% (↓)       Melbourne 6.52% (↓)       Brisbane 5.06% (↓)     Adelaide 5.48% (↑)        Perth 6.51% (↓)       Hobart 4.73% (↓)     Darwin 7.82% (↑)        Canberra 5.99% (↓)       National 5.58% (↓)            HOUSE RENTAL VACANCY RATES AND TREND       Sydney 2.0% (↑)      Melbourne 1.9% (↑)      Brisbane 1.4% (↑)      Adelaide 1.3% (↑)      Perth 1.2% (↑)      Hobart 1.0% (↑)      Darwin 1.6% (↑)      Canberra 2.7% (↑)      National 1.7% (↑)             UNIT RENTAL VACANCY RATES AND TREND       Sydney 2.4% (↑)      Melbourne 3.8% (↑)      Brisbane 2.0% (↑)      Adelaide 1.1% (↑)      Perth 0.9% (↑)      Hobart 1.4% (↑)      Darwin 2.8% (↑)      Canberra 2.9% (↑)      National 2.2% (↑)             AVERAGE DAYS TO SELL HOUSES AND TREND         Sydney 29.5 (↓)       Melbourne 31.6 (↓)       Brisbane 31.5 (↓)       Adelaide 26.2 (↓)       Perth 41.1 (↓)       Hobart 33.2 (↓)       Darwin 24.8 (↓)       Canberra 32.7 (↓)       National 31.3 (↓)            AVERAGE DAYS TO SELL UNITS AND TREND         Sydney 25.4 (↓)       Melbourne 31.6 (↓)       Brisbane 27.4 (↓)       Adelaide 23.7 (↓)       Perth 41.0 (↓)       Hobart 26.8 (↓)       Darwin 45.2 (↓)       Canberra 43.3 (↓)       National 33.0 (↓)           
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How Australian spending patterns are changing

There’s a rhythm to the way we choose to spend our money — and businesses are taking notice

By KANEBRIDGE NEWS
Mon, Dec 16, 2024 9:35amGrey Clock 2 min

October was the month for going out and partying, November saw spending on fashion spike while December shoppers will be turning to credit to have a happy Christmas.

That’s the pattern of spending by Australian consumers for the past three months according to recently released data.

Research from the Commonwealth Bank showed spending on ticketing services rose by 27 percent over October, with tickets to concerts by Oasis, Luke Combs, Metallica and even the F1 in Melbourne proving irresistible for many Australians looking to enjoy themselves.

In November, Black Friday sales — a retail event borrowed from the United States to bridge the day between Thanksgiving and the following Monday — have become a strong feature in Australia in recent years. While the sales events can begin at the start of the month and last for weeks rather than days, the Commonwealth Bank noted 8 of the 12 Household Spending Insights experienced an uptick over the month. This was led by women’s and men’s fashion, with shoppers hoping to take advantage of sales ahead of Christmas.

CBA Chief Economist Stephen Halmarick said in a year where cost of living pressures have been felt across Australian households, the possibility of securing a bargain moved Christmas spending forward.

“We’re seeing Black Friday and holiday spending shift earlier as retailers entice shoppers with early discounts on discretionary items,” Mr Halmarick said. “Collectively, sales for October and November 2024 were up 2 per cent compared to the same period last year.” 

With Christmas Day a little over a week away, research by Roy Morgan, commissioned by the Australian Retailers Association showed more than half of Australian shoppers had begun their Christmas spend as early as October. The research also found that Australians are expected to spend $11.8 billion on presents this year, an increase of $1.6 billion on 2023.

Financial comparison service Finder research indicated more Australians will be leaning on credit to cover the shortfall in their budgets this year. The survey of 1009 respondents showed 26 percent regretted not saving more for Christmas, while a further 14 percent felt they had not saved enough.

In contrast, 34 percent revealed they had no need to set aside money for the holidays while another 26 percent had implemented a savings plan over the year to cover costs.

Sarah Megginson, personal finance expert Finder, said Australians struggling with Christmas expenses should avoid racking up debt on credit and instead focus on ways of trimming down costs.

“Many families have very little wiggle room in their budgets this festive season after a surge in living costs,” she said. “When you’re in this situation, planning and comparing to get the best deals and discounts is crucial.

“Avoid extending yourself and ending up with a credit card balance you’re struggling to pay off once the tree has been packed away.”



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NAB’s Earnings Hit by Higher Business-Loan Impairments

The bank posted unaudited cash earnings for the quarter of A$1.7 billion, down 2% on the average of its prior two quarters

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Wed, Feb 19, 2025 < 1 min

National Australia Bank said that higher credit impairments against business loans contributed to a small fall in its unaudited December quarter cash earnings.

NAB , which is Australia’s second-largest bank by market capitalization, on Wednesday posted unaudited cash earnings for its fiscal first quarter of 1.74 billion Australian dollars, equivalent to about US$1.11 billion.

That was down 2% on the average of its prior two fiscal quarters. NAB did not give a year-earlier comparison.

The lender said that revenue grew by 3% compared with the average of its prior two fiscal quarters. Underlying profit growth of 4% over the same period was offset by higher credit impairment charges and income tax expenses, it added.

NAB, which posted an unaudited quarterly statutory profit of A$1.70 billion, said the A$267 million credit impairment charge included A$152 million of individually assessed charges. Those were mainly against Australian businesses and unsecured retail portfolios, it said.

The individual charges were up by 54% compared with a year earlier. NAB said that it had not altered its economic assumptions and scenario weightings.

“The economic outlook is improving but cost of living and interest rate challenges persisted,” Chief Executive Andrew Irvine said. “While most customers are proving resilient, we have maintained prudent balance sheet settings.”

NAB said it had seen a small decline in net interest margin due to funding costs, lending competition and deposits, partially offset by the benefit of higher interest rates.

On Tuesday, the Reserve Bank of Australia cut the country’s cash rate for the first time since 2020 but warned against expecting subsequent near-term cuts.

NAB is still targeting full fiscal-year productivity savings of more than A$400 million, and for operating expenses to grow by less than 4.5%, Irvine said.

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This stylish family home combines a classic palette and finishes with a flexible floorplan

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Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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