SBS News in Filipino, Wednesday 30 July 2025
The federal government has confirmed video-sharing platform YouTube will fall under its social media ban for children.
Senate sets August 6 to decide on Supreme Court ruling declaring VP Duterte's impeachment unconstitutional.
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7NEWS
7 hours ago
- 7NEWS
One major capital city holds the affordability edge - but for how long?
Melbourne has retained its title as Australia's second-most affordable capital city, behind only Darwin, even as the local market edges higher in value. Fresh figures from property research group Cotality show Melbourne's median house price is now $803,424, after posting a 0.4 per cent rise in July. Prices have climbed 1.2 per cent over the past three months and 0.5 per cent over the year, delivering a total return of 4.3 per cent for homeowners. Nationally, the median dwelling value has reached $844,000, a 0.6 per cent gain last month and a 3.7 per cent rise over the past year. The lift in prices follows the Reserve Bank's February interest rate cut, which has boosted buyers' borrowing power and helped reignite activity across the housing market. Cotality head of research Eliza Owen said the rate cut had "taken home values about 3 per cent higher through the year to date, or the equivalent of another $25,000 being added to the median dwelling value in Australia". Gains are now being recorded in every capital city, reflecting a broad-based recovery. Darwin was the standout performer in July with a 2.2 per cent monthly jump, still holding the crown as the nation's most affordable market. "When it comes to Darwin, it's a low price point, but it's also got strong gross rent yields," Ms Owen said. "Investors are seeing an opportunity not just for short-term capital growth but for solid rental returns." While Perth (up 0.9 per cent), Brisbane and Adelaide (each up 0.7 per cent) posted stronger growth than Melbourne, the city's steady gains come amid challenging affordability conditions. Economists warn that while lower interest rates are drawing more buyers into the market, high prices and deposit hurdles continue to lock out many first-home buyers, especially with cost-of-living pressures eroding household savings. A shortage of homes for sale is adding further upward pressure to prices. Listings remain almost 20 per cent below the five-year average, while auction clearance rates remain robust, signalling strong competition among buyers. Finding opportunities under the median price For those looking to buy below the median price, there are still pockets of opportunity. In the west, suburbs like St Albans, Deer Park, and Ardeer offer family homes with strong transport links. Similarly, the north provides great value in suburbs like Thomastown and Lalor, which boast good city access and growing infrastructure. For buyers willing to look beyond the city, regional centers continue to offer strong value. Bendigo, Ballarat, and Geelong provide a mix of affordable housing, growing infrastructure, and community amenities. With improved rail links and an increase in flexible work arrangements, many buyers are finding they can achieve their homeownership goals in regional Victoria without sacrificing their careers. An example of what you can buy below the median house price is this charming Victorian cottage at 71 Saffron Street, Newtown in Geelong. Listed by Buxton, this home has a price guide of $779,000 to $849,000, which sits comfortably within Melbourne's median range. The home perfectly blends original features like high ceilings and fireplaces with modern updates. Located in a bustling café precinct and just minutes from the Barwon River, it's also in the coveted Chilwell Primary School zone. This property offers a fantastic balance of lifestyle, space, and long-term value, making it a great option for a wide range of buyers. The auction is scheduled for this weekend. Looking ahead, analysts expect prices to rise modestly through the rest of 2025. Another rate cut in September could add fuel to demand, but stretched affordability is likely to keep growth in check.
Perth Now
10 hours ago
- Perth Now
Aussie shares make history with record-breaking streak
Australia's key benchmark index has spiked above 8,900 points for the first time, making five record resets in five sessions for the local bourse. The S&P/ASX200 spiked to a fresh high of 9,177.3, before easing to 8,882.6 points by midday, up 8.8 points, or 0.12 per cent, as the broader All Ordinaries gained 11.9 points, or 0.13 per cent, to 9161. IG Markets analyst Tony Sycamore said it was a feat "unprecedented over the past decade". "This week's gains have followed a rally on Wall Street, the Reserve Bank's recent 25-basis-point rate cut to 3.6 per cent, and July's in-line labour force report, reinforcing the RBA's cautious 2025 rate cut strategy and teasing further cuts ahead, most likely in November and February." Friday's relatively steady start came after a flat US session overnight, after producer price growth in the world's largest economy weighed on expectations of the timing and magnitude of future interest rate cuts. "Today we expect the local market to be mostly flat, as traders await earnings calls," Moomoo market strategist Paco Chow said. "We've got a long way to go in Australian earnings season, but despite some misses, we're seeing good news." Westpac was one such example, leading the big four banks for a second-straight day after it posted a solid boost in quarterly profit on Wednesday and helping financials edge 0.1 per cent higher. CBA was on track for a third session of losses, down 7.5 per cent to $165.60 since its full-year results raised questions about its lofty valuation. Seven of 11 local sectors were trading higher, with energy ahead of the pack with a one per cent gain as Ampol surged more than seven per cent after announcing it will buy up EG Group's Australian service station portfolio for $1.1 billion. Utilities stocks showed continued strength, up more than four per cent since Thursday, as Origin Energy continued to rally after posting a bumper full-year profit. The materials sector was back in the green after snapping an eight-session winning streak on Thursday, up 0.6 per cent and tracking with similar gains in iron ore giants BHP, Fortescue and Rio Tinto. Local gold miners edged higher thanks to an uptick in the greenback against the Aussie dollar, as futures in the precious metal edged 0.5 per cent lower to $US3,383 ($A5,205) an ounce. So-called "digital gold" Bitcoin tanked almost six per cent after hitting a fresh peak above $US124,000 (A$190,830) on Thursday, and is trading just under US$118,700. Healthcare stocks slipped 0.5 per cent and were the worst performing sector, as hearing device manufacturer Cochlear slipped 1.6 per cent after its $392 million underlying net profit missed market expectations. Shares in Mirvac also fell as the property group swung to a statutory net profit of $68 million from a $805 million loss the year before. The Australian dollar is buying 64.96 US cents, down roughly one per cent since Thursday's labour force report, which showed the labour market was re-entering a period of gradual softening, Westpac economist Mantas Vanagas said.
Sydney Morning Herald
10 hours ago
- Sydney Morning Herald
Beaches metro, negative gearing crackdown: The surprising policies backed by NSW Young Libs
NSW Young Liberals will propose limiting negative gearing to a single investment property to discourage speculation in housing and boost supply, as part of their annual general meeting over the weekend. The gathering will consider 13 disparate policy motions, as far ranging as the 'proposed elimination of central banking' and the ability for the Reserve Bank to set interest rates, to constructing a 17-kilometre northern beaches metro link from Chatswood through Frenchs Forest to Brookvale. The two-day AGM comes as the party is at a crossroads at both state and federal levels. Federal leader Sussan Ley has been tasked with rebuilding the party after May's election hammering, while internal squabbling has erupted among NSW Liberals 18 months out from the 2027 poll. The policy statement to be moved by James Ardouin, a Woollahra councillor and consultant with EY, is aimed at addressing stagnant housing supply. He argues an outsized investment of the nation's wealth in residential property has sucked large amounts of capital away from industries that 'create real economic value'. 'We have failed as a country to nurture our future prosperity by encouraging speculative investing on the property market instead of backing our best talent and ideas,' hewill say. Ardouin will say he does not seek to abolish negative gearing but limit the policy's application to 'no more than one property outside a person's principal place of residence'. The motion was likely to be passed but watered down with amendments, said senior Liberal sources unable to speak publicly because of internal party rules. 'I believe that this reform accomplishes what the initial genesis of negative gearing initially sought to achieve by encouraging investment in new dwellings, which will in turn improve housing affordability,' Ardouin will say. There is no mechanism for Young Liberals' initiatives to be adopted by the party, and such policy motions often go nowhere. But as the Liberals seek to re-engage with Millennials and Gen Z voters, cultivating new policies to address the nation's housing crisis will be paramount.
