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Ross Stitt reports that in Australia, where pay packets are growing slower than the rate of inflation, rents and house prices are only going higher and housing stress is about to bite very hard
The increase in the cash rate to 4.35 per cent could trigger a pause in activity and price growth, but won’t fully dampen an undersupplied market.
Illawarra home owners have been slugged with another rate hike.
House prices are surging by double-digit figures in Australian cities despite 12 interest rate rises since last year. This is occurring as immigration hits record highs and fewer new houses are completed.
Companies like insurance and banking group Suncorp are rewarding staff who come into the office. A labour market researcher has a dark theory on why bosses don't like work from home.