Latest news with #AustralianBureauofStatistic
Sky News AU
2 days ago
- Business
- Sky News AU
More than three million Aussies to pocket about $277 this Dry July, research from comparison site Finder has revealed
Australians doing Dry July will not only improve the health of their liver but also their bank balances to the tune of $277, new research has revealed. Comparison site Finder has found that 20 per cent of Australian drinkers are cutting out grog this month for the annual Dry July sobriety run. With the average drinker forking out $69.40 per week on alcohol, according to Finder, the total savings will hit $277 for the month. The research found the weekly average spend on alcohol was down 35 per cent from $108.20 a year ago as cumulative cost of living pressures force Aussies to cut back on drinking. Finder's head of consumer research Graham Cooke said Dry July was a 'great opportunity' for Aussies to reset their financial habits alongside their health habits. 'Many Aussies don't realise how much money quietly disappears on drinks out with friends or a quiet bottle of wine in the evening,' Mr Cooke said. 'Cutting out alcohol for a month can easily save you hundreds of dollars – that's money that could go towards paying down debt, building your emergency fund or simply boosting your savings. 'Not only that, but your liver will start to repair itself after a couple of weeks – so the longer you stay off the booze, the better. 'It's great that it's becoming more acceptable to say no to a drink. Choosing to skip alcohol, whether for health or for financial reasons, doesn't mean you have to skip the fun.' Finder's research showed a whopping 3.2 million Aussies will take part in Dry July this year. That will put $886m back into the pockets of everyday Australians if all successfully complete the challenge. About 11 per cent of respondents to Finder's survey said they were completing Dry July for the first time while nine per cent said they had done it previously. The savings comes as alcohol inflation has continued to surge over the past year. Data from the Australian Bureau of Statistic showed the price of beer rose 4.5 per cent and the price of spirits jumped four per cent for the year up to March 2025. Alcohol and tobacco rose 6.5 per cent over 12 months while prices jumped 1.2 per cent in the March quarter.
Yahoo
12-02-2025
- Business
- Yahoo
Surprising trend in home lending
The number of Aussies buying a home is on the rise as they face less competition from investors. Fresh figures released by the Australian Bureau of Statistic show that for the first time since March 2023, the number of investment loans fell over the most recent quarter. There were 48,876 investor loans in the December quarter, down 2293 on the three months prior. ABS head of finance statistics Mish Tan said while the number of investment loans over the last three months fell, the size of investment loans still ballooned. 'Despite the December quarter fall, the value of new investment loans during the 2024 calendar year in original terms reached $125.1bn. This was 29.8 per cent higher than the $96.4 billion value of new loans in 2023. But as investors leave the market, it is being filled by homeowners looking to get into the market, with 83,206 new home loans approved in the December quarter. The total value of new home loans approved was $54.8bn, a rise of 4.2 per cent. The average loan size rose by $24,777 to $665,978. Dr Tan said the largest increases in value were in Queensland, soaring 19.6 per cent, Victoria, growing by 12.3 per cent, and NSW, up 10.6 per cent over the last 12 months. 'While the number of new home loans rose in the December quarter, NSW partially offset this growth, falling 2.3 per cent, following a fall of 0.4 per cent in the September quarter,' she said. 'Demand for new home loans excluding refinancing rose throughout 2024 despite relatively strong growth in property prices. 'In original terms, the value of new home loans during the 2024 calendar year reached $205.7bn. This was 13.6 per cent higher than the $181.0bn value of new loans in 2023,' Dr Tan said. Proptrack data shows national house prices fell 0.08 per cent in January, though remain 3.82 per cent higher year-on-year. Capital cities led the decline in prices, falling 0.16 per cent in January as regional areas recorded a 0.12 per cent rise over the month. Every capital city besides Brisbane fell in the last month, led by falls in Hobart and Melbourne. In Sydney, house prices outperformed unit prices year-on-year, lifting 2.53 per cent and 1.24 per cent respectively, with the median value listed at $1.1m. REA Group senior economist Eleanor Creagh said while housing demand remained resilient to persistent affordability constraints, the pace of house price growth slowed throughout 2024, culminating in small falls over the past two months. 'This softening in growth has occurred alongside a surge in stock for sale, giving buyers more choice and reducing the urgency to transact. Affordability challenges, weaker economic conditions and the sustained higher interest rate environment have also been contributors to slowing – and reversing – growth,' she said. 'With interest rate cuts on the horizon, the price falls seen over the past two months are likely to be short-lived.' The RBA meets on February 17-18 and is largely predicted to reduce Australia's official cash rate from 4.35 per cent to 4.1 per cent. Sign in to access your portfolio
