Latest news with #Finder
News.com.au
20 hours ago
- Business
- News.com.au
‘Competing hard': Brisbane Olympics house price battle looms
The Brisbane Olympics continue to loom as a potentially massive upward driver of house prices. Speculation is rife about just how much the Games will push up prices in Brisbane in particular. As soon as the long-awaited venues were confirmed in March, realtors began promoting their properties as within the 'Olympic precinct'. Finder research suggests 1.5 million people would be looking to buy in Brisbane between now and the 2032 Games. 'The ripple effect on the local property market, especially in Brisbane's inner and middle-ring suburbs, cannot be underestimated,' Australian Property Investor magazine said in April. Propertytology managing director Simon Pressley tempered the huge expectations this week though, downplaying estimates Brisbane house prices would double in the next seven years. 'No guarantee,' he told Channel 7 on Tuesday morning. 'Property markets are obviously very, very complicated. 'There's no precedent with past Olympic Games around the world that property booms always happen.' The Sydney 2000 Games did spark a property boom though, but the NSW economy and the monetary policy of the time were larger factors for the boom, Mr Pressley said. 'Broadly, for the whole state of Queensland, the outlook for its property market for the foreseeable future looks to be strong,' he said. 'Buyers are already competing very hard for a small volume of properties for sale.' The latest national figures show Brisbane's median dwelling value has increased 7.1 per cent in the past year to $918,000. Of the capital cities, only Perth prices have gone up more in the past 12 months. Regional South Australian prices have shot up the most. In March, the Queensland government unveiled plans for a new Olympics precinct in Brisbane. 'There's going to be a lot of construction obviously with various stadiums and arenas built all over the state,' Mr Pressley said. 'Skilled labour is going to be a big challenge for the Queensland government as well.'
Yahoo
a day ago
- Business
- Yahoo
Mortgage holder's $4,500 savings revelation reveals reality facing millions: ‘Should have paid it off by now'
A Sydney mum has candidly revealed how much money she has in savings while paying off a mortgage. The cost of living is making it harder and harder for people to save, and it means many people aren't where they thought they'd be financially. The 49-year-old woman was stopped in the street by property app Coposit and revealed she had $4,500 in savings. She shared that she bought a house 25 years ago and 'probably should have paid it off by now'. She's not the only one in this position. Exclusive Finder research shared with Yahoo Finance found that more than half of Australians weren't where they thought they would be financially. RELATED Easy monthly habit to save an extra $8,364 a year: 'Get ahead' Tradie reveals surprising industry where he makes '$300,000 to a million' a year: 'Never knew' Right to disconnect warning as worker sues former employer for $800,000: 'People are nervous' The woman said the high cost of living meant many people had to adjust their spending and couldn't splash out on the things they once could. 'You just can't spend. You can't buy the delicious meat that you used to buy at the butcher,' she said. 'You have to be tight, you have to go to the op shop. I don't do my nails, I'm not fancy. You just have to be frugal.' The woman said her adult kids, who are in their twenties, had 'heaps' more money in savings than she had because they didn't spend unnecessarily. 'I watch my kids save and they are doing the things that I didn't do, I didn't save back then,' she said. 'It's a bit weird, but they know that they've got to do it differently.' Despite this, she said she didn't know when her kids would be able to afford to buy a house. 'I won't be able to be the Bank of Mum and Dad and give them $50,000. I just won't be able to with my $4,500 worth of savings,' she said. While the woman said her finances were 'a mess', she actually is doing better than the average Aussie in her age bracket. Westpac data found the median 45 to 54-year-old had just $1,429 in their savings, while the average had $52,836. The median is the middle value when the numbers are arranged from smallest to largest. It can be a better representation of where you sit than the mean average, which can be skewed by very big or small numbers. Aussie online praised the woman for being so transparent about her situation. 'She's lovely and she's honest. I'm sure she works very hard to pay that mortgage. It's hard to save and pay all the bills,' one said. 'Good mum, smart kids,' another said. The Finder research found 53 per cent of Aussies felt like they had fallen behind financially and had failed to meet the goals they once set for themselves. Just 12 per cent of the 1,012 people surveyed said they had managed to surpass their own financial expectations, while 35 per cent were in line with where they expected to be. "For most Australians, the dream of financial security has taken a hit – many are surviving, not thriving, as they grapple with economic pressures and personal financial setbacks," Finder money expert Rebecca Pike told Yahoo Finance. 'Rising costs, unexpected setbacks, and a lack of budgeting discipline have left many feeling stuck.' Poor health had the biggest impact on Aussies' finances, with 17 per cent saying it had negatively impacted their financial progress. This was followed by having kids (15 per cent) and not having a budget (15 per cent), relationship breakdowns (13 per cent) and job loss (11 per cent). Pike said many Aussies had fallen short of their financial expectations and had experienced money setbacks. But she said it was never too late to make progress. 'It isn't a race, so focus on what you can change and be consistent,' she said.
Sydney Morning Herald
2 days ago
- Business
- Sydney Morning Herald
The simple banking switch that could save you time and money
Real Money, a free weekly newsletter giving expert tips on how to save, invest and make the most of your money, is sent every Sunday. You're reading an excerpt − sign up to get the whole newsletter in your inbox. As a general rule, I try to contain any evangelising about personal finance or superannuation to within this column (you lucky things). That being said, I have been known to interrogate my friends about their super allocations (usually after one too many pints), but no one likes someone rambling on about ETFs or debt or whatever when they're just trying to have a good time. However, there was once, circa 2018, when this rule went completely out the window. It was peak neobank boom, and I had just decided to switch from my classic, big four bank account to one of the new challengers, with slick branding and a promise to revolutionise banking – two things I'm usually pretty dismissive of. But the change was like night and day, and I quickly began to pester my friends, telling them to do the same, to the point where many asked if I was getting some sort of kickback from the company (I wasn't). Loading What's the problem? In the end many of them caved, found out I was right, and I received some sweet, sweet vindication. But for many of us, this is an unthinkable move, with a recent survey from Finder revealing 51 per cent of adults are still with the same bank they started out with. This might sound like a bit of a 'so what' statistic, but imagine if you were still driving the same car you bought at 16? Or still working in the same part-time job? We're used to changing and moving on to the next best thing when the opportunity arises, but for some reason, this approach doesn't apply to our bank accounts. What you can do about it
Yahoo
2 days ago
- Business
- Yahoo
ATO warning to millions of Aussies desperate for $1,519 cash boost: 'Misconception'
Millions of Australians will be able to lodge their tax returns with the Australian Taxation Office (ATO) in the coming weeks. While many are desperate for a cash boost in the form of a refund, taxpayers are being warned not to rush. More than 10 million Australians expect a tax refund this year, new Finder research found, with 7 per cent admitting the extra cash would be 'critical' to their financial wellbeing. The average Aussie is expecting a refund of $1,519. Finder head of consumer research Graham Cooke told Yahoo Finance Aussies would be rushing to get their hands on some extra cash from July 1. RELATED ATO warning over popular tax deduction Aussies try to claim each year: 'Not claimable' Coles and Woolworths checkout move that there's no coming back from: 'Will only accelerate' Aussie couple making $1,200 a day from job anyone can do: 'Went off like an explosion' 'Australians who are living month to month are very eager to access their tax refunds to ease financial strain,' Cooke said. 'With many households grappling with the cost of living, these refunds offer a much-needed reprieve. For some, the refund is essential to cover essential expenses, such as keeping the lights on." Nearly one in four Aussies surveyed said their tax refund was 'very important' to their financial health, while a further 41 per cent said it was 'somewhat important'. Women were more likely to need a refund, with 39 per cent admitting it was 'critical' or 'very important' for their finances, compared to 24 per cent of men. But not everyone is expecting a refund this year, with 18 per cent saying they thought they would be getting a tax bill. Cooke has urged Aussies to make sure they are making prudent use of any refund. 'Consider using the funds to pay down debt, deposit into a high-interest savings account, or contribute to superannuation to maximise long-term benefits,' he said. It comes as Aussies are urged not to rush their tax returns, or they could risk making mistakes and missing out on legitimate claims. CPA Australia tax lead Jenny Wong has urged Aussies to take time to gather their evidence of work-related expenses over the next few weeks and to wait for the ATO to pre-fill their information before lodging. 'Firing the starting pistol on your tax return too quickly means you could end up shooting yourself in the foot,' she said. 'There's a misconception that lodging early means you'll receive your refund first, but it's not as simple as that. 'It's common for people who lodge early to end up having to amend their returns later anyway, so it's best to wait. It'll save you in the long run.' The ATO generally recommends waiting to lodge until the end of July when information, including interest from banks, dividend income, payments from government agencies and health insurance information is pre-filled in your tax return. The ATO has said it will be focused on areas where it sees frequent mistakes this tax time, including work-related expenses, working from home deductions and multiple income in retrieving data Sign in to access your portfolio Error in retrieving data
The Age
3 days ago
- Business
- The Age
The simple banking switch that could save you time and money
Real Money, a free weekly newsletter giving expert tips on how to save, invest and make the most of your money, is sent every Sunday. You're reading an excerpt − sign up to get the whole newsletter in your inbox. As a general rule, I try to contain any evangelising about personal finance or superannuation to within this column (you lucky things). That being said, I have been known to interrogate my friends about their super allocations (usually after one too many pints), but no one likes someone rambling on about ETFs or debt or whatever when they're just trying to have a good time. However, there was once, circa 2018, when this rule went completely out the window. It was peak neobank boom, and I had just decided to switch from my classic, big four bank account to one of the new challengers, with slick branding and a promise to revolutionise banking – two things I'm usually pretty dismissive of. But the change was like night and day, and I quickly began to pester my friends, telling them to do the same, to the point where many asked if I was getting some sort of kickback from the company (I wasn't). Loading What's the problem? In the end many of them caved, found out I was right, and I received some sweet, sweet vindication. But for many of us, this is an unthinkable move, with a recent survey from Finder revealing 51 per cent of adults are still with the same bank they started out with. This might sound like a bit of a 'so what' statistic, but imagine if you were still driving the same car you bought at 16? Or still working in the same part-time job? We're used to changing and moving on to the next best thing when the opportunity arises, but for some reason, this approach doesn't apply to our bank accounts. What you can do about it
