House prices plunge 4.9 per cent from peak
The housing market has tumbled in capital cities across the country, with prices down 4.9 per cent from their March peak.
Economy, Business and Finance
Businesses could shut as energy costs soar
Soaring energy prices will burn a hole in the pockets of Australian businesses as growing gas dominance triples the cost of wholesale electricity.
Annual inflation soars to 7.3 per cent
The latest inflation figures confirmed what households already knew - cost of living pressures are showing no signs of easing.
Medibank hack impacted all 4m customers
Medibank has confirmed hackers accessed the personal information of all four million of its customers, as well as significant amounts of health data.
$350m to kickstart housing affordability
Australians priced out of the rental market are set to benefit from a $350 million affordable housing scheme included in the federal budget.
No more ‘sleepwalking’ on manufacturing
A $15 billion fund has been set up to stop Australia "sleepwalking" as rival economies seize new opportunities in advanced manufacturing and critical minerals.
Record energy spending amid global crisis
Record budget funding for landmark energy reforms is intended to steady the electricity grid and encourage investors to bankroll Australia's net zero future.
Injured veterans to get extra $1000 a year
Injured military veterans will soon receive an extra $1000 a year and hundreds of support staff will be hired to process their claims.
Budget ‘improves liveability’ in regions
The Albanese government says it is committed to regional Australia's future, funding health, skills and connectivity, while delaying dam projects.
Environmental projects get ‘down payment’
More than $1 billion will go towards protecting the Great Barrier Reef, with budget funds also set aside to save the nation's iconic endangered animals.
Workers must wait two years for a pay rise
A gloomy economy will weigh on household budgets with a boost to real wages not expected until at least mid-2024.
Power prices tipped to rise by 50 per cent
Retail electricity prices are expected to rise by 50 per cent over the next two years, the budget papers have revealed.
Slaying inflation dragon key: Chalmers
Jim Chalmers has begun the task of budget repair, even as households face power price spikes and lower real wages due to rising inflation.
ASX rallies on suggestion of Fed pivot
The local share market rose 1.54 per cent on talk the US might finally ease its rate tightening campaign later this year.
Chalmers braces for budget belt tightening
Treasurer Jim Chalmers has unveiled a budget that includes cost of living relief and down payments on election promises, but warns of hard decisions to come.
Budget tips $1b into regional grant revamp
Two new regional grants programs will be introduced by the Albanese government in the upcoming budget, to improve transparency of decision making.
Petrol price spike looms for motorists
Some retailers are already charging more than $2 a litre as cities move into the first new fuel cycle since petrol tax relief expired.
Fifth losing week out of last six for ASX
The local share market has finished down 0.8 per cent for the day and 1.2 per cent for the week, its seventh losing week out of the past nine.
Inflation higher for longer: Treasury
Inflation is going to hang around for longer due to persistently high energy prices and floods in southeast Australia, Treasury forecasts say.
Gloomy backdrop for first Albanese budget
The Labor government is handing down its first budget at a time of economic turbulence. Here's why that matters.
Weak dollar a ‘modest’ inflation driver
The weakening Australian dollar will make imports more expensive but the RBA says its effects will be relatively minor.
Murdoch, Crikey fail in defamation stoush
Media mogul Lachlan Murdoch and news publication Crikey have both unsuccessfully attacked each others' pleadings amid a hotly contested defamation lawsuit.
Floods put growth forecasts at risk
Flooding in NSW, Victoria and Tasmania will add almost 10 per cent to the price of fruit and vegetables at the supermarket.
Australia’s COVID-19 response was overreach
Australia’s response to COVID-19 exacerbated existing inequalities within the society, according to an independent review, which urges that “overreach” be avoided in dealing with future such crises
Qld’s Acland coal mine gets water licence
The Queensland government has granted a water licence to New Hope Group for the expansion of its New Acland coal mine, allowing it to start work on the project.
A lack of Truss: Questions over Conservative Party system that chose unpopular British PM
Choosing the leader of the Conservative Party is strictly speaking a matter for the Conservative Party. This is fine when in opposition. When in government, a change of leader means a change of prime minister.
Vic plan to revive public energy ownership
Almost all of Victoria's energy will come from renewable sources by 2035, and state ownership of power assets will be revived if Labor is re-elected next month.
Tesla confirms electric trucks for 2022
Tesla has revealed plans to launch one electric truck and begin producing another amid bold predictions from Elon Musk that the company will out-perform Apple.
Regions set for big NBN budget boost
The federal government says a $2.4 billion investment to upgrade NBN fibres will deliver high-speed internet to almost 700,000 regional premises.
Tax cuts to cost $11b more than estimate
The federal treasurer says the controversial stage three tax cuts will cost billions more than previously thought as the government faces calls to scrap them.
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real estate
Qld missing 20,000 rental homes: summit
Optimism for the federal budget, 20,000 missing rentals and an immediate stocktake of land holdings have been discussed at Queensland's housing summit.