Latest news with #WesternAustralian
West Australian
28 minutes ago
- Business
- West Australian
All the details: WA Shearing Industry Association set to hold AGM with Merino focus in June
Former leader of the WA Opposition Mia Davies joins a line-up of speakers at the WA Shearing Industry Association's annual general meeting this month. The AGM will focus on industry initiatives and challenges in the wake of a particularly difficult period, showcasing the industry's value while also providing networking opportunities for farmers. The recent candidate for the Federal seat of Bullwinkel, Ms Davies, will speak on her time in politics, her thoughts on the WA agricultural sector and what she envisions for the future to close out the event. She will be joined by Western Australian sheep producer and Sheep Producers Australia chair Bindi Murray, and speakers from Australian Wool Innovation, Stud Merino Breeders, PSC Insurance, Heiniger, woolgrowers, brokers and buyers. Presentations will centre on the theme of the value of the Merino across the five-hour event at Ingot Hotel on June 21. A panel session facilitated by The Livestock Collective will also feature, as well as a presentation from WA WoolTAG. Attendees can gather for coffee from 8.30am, with the event start time set for 9am, finishing at 2pm. The event is $35 per person to cover the cost of morning tea and lunch. A raffle with prizes from Top Gun Shearing, Heiniger and AWI is included. RSVPs are required via the WASIA website . The AGM will be an expanded format of WASIA's recent member meeting in January which featured president Darren Spencer's bi-annual report and an address from Australian Wool Innovation WA director Neil Jackson.
West Australian
43 minutes ago
- Business
- West Australian
New Meat & Livestock Australia program has launched for southern WA beef producers to boost their programs
A new livestock industry initiative aimed at boosting the productivity and profitability of southern Western Australian beef producers has officially launched. It comes after a call from southern producers for industry to address the unique challenges they face in their region and input practical measures to support them. Meat & Livestock Australia and the Western Australia Livestock Research Council announced the start of the SMARTBEEF project on May 29, which will bring producers together to collaborate, share knowledge and implement practical on-farm improvements. It was designed by MLA, industry experts, the Western Beef Association and the University of Adelaide with climate conditions and shifting market dynamics as the focus. The project's team leader, Economics & Consulting principal, Lucy Anderton, said the project was designed to assist producers in tackling challenges through practical and collaborative learning. 'This project isn't about sitting in a room listening to presentations. It's about producers working together, learning from each other and using practical tools to drive success,' she said. 'It is an opportunity for these producers to improve their understanding of their productivity and profitability.' The program will develop the skills producers require to make data-driven decisions that improve profitability by analysing their financials, cost of production and production systems. They will also gain insights into the WA beef market and market specifications through access to industry experts and supply chain participants. Albany producer Matt Leov is one of several farmers who will showcase best practices — including digital agriculture, reproductive efficiency and sustainability — in their area as part of the program. 'The ability to observe and understand the practices of similar farms presents a significant opportunity for improvement — it has the potential to transform how we operate,' he said. 'I'm particularly looking forward to learning from others and identifying cost-effective strategies that can deliver meaningful results.' The first producer group will start in July and finish in September, 2026, while the second will begin in July 2026 to December 2027. MLA is calling for producers who are interested to sign up before June 30. For further information including how to register, contact Phil Barrett-Lennard at phil@ or on 0429 977 042.
The Advertiser
9 hours ago
- Business
- The Advertiser
Interest rate cuts fuel rebound in property prices
Home values have set a record as falling interest rates send buyers piling back into the property market. The median dwelling in Australia was worth $831,288 in May - a 0.5 per cent jump on the month before - data released by property analytics firm Cotality, formerly CoreLogic, on Monday showed. Every capital city, as well as the combined regions, exhibited growth of 0.4 per cent or more, in a broad-based recovery largely down to buyers feeling better about their purchasing capacity. "Undoubtedly, interest rates have had a positive flow through to housing markets since February," said Cotality research director Tim Lawless. "But I certainly wouldn't call the rate of growth shooting the lights out. A 0.4 per cent to 0.5 per cent growth rate is much more sustainable than what we were seeing, say, in early 2023 up to mid-2024." After a shallow and short-lived downturn at the end of 2024, the recovery in prices had more to do with sentiment than a genuine improvement in serviceability or access to credit, considering interest rates were still in restrictive territory, Mr Lawless said. "And we know from historical correlations, consumer confidence and housing activity tend to go hand-in-hand." Changes in property values have converged across markets after record divergences in price growth in 2024. In August, there was a 26.1-percentage point difference between the annual growth rate in Perth (24.5 per cent) and Hobart (-1.6 per cent). Price rises have slowed in the Western Australian capital, but properties there still increased at 0.7 per cent in May, behind only Darwin, which grew at 1.6 per cent. While 2024's astronomical growth rate of 19 per cent was unlikely to be repeated, Perth's low price base, strong economy, high interstate migration numbers and low property listings would continue to lift values higher, Mr Lawless said. Nationally, rents grew at 0.4 per cent in May following three straight months of 0.6 per cent gains. On an annual basis, rental growth is clearly trending downwards, with the largest markets of Sydney and Melbourne the softest. Capital city vacancy rates remain below the long-term average at two per cent, boosting prices. Net overseas migration falling back to normal levels after the post-COVID spike and increasing household sizes were keeping a lid on demand. But slow progress on the supply side of the ledger doesn't look like improving soon. Dwelling approvals fell 5.7 per cent in April, the Australian Bureau of Statistics reported on Friday, putting the national target of 1.2 million new homes over five years further out of reach. "Rental affordability challenges are going to be with us for some time yet, given given how tight rental conditions," Mr Lawless said. Following the Reserve Bank's decision to cut interest rates by 25 basis points at its May meeting, governor Michele Bullock said it was not the RBA's responsibility to address housing affordability through monetary policy. Governments, she said, held the levers to fix the imbalance of supply and demand. "There's nothing the Reserve Bank can do about these affordability issues of housing," she said. "This is an issue of housing demand and housing supply, and increasingly this issue is finding its way into the governments, both state and federal governments, and that's where the focus has to be." Home values have set a record as falling interest rates send buyers piling back into the property market. The median dwelling in Australia was worth $831,288 in May - a 0.5 per cent jump on the month before - data released by property analytics firm Cotality, formerly CoreLogic, on Monday showed. Every capital city, as well as the combined regions, exhibited growth of 0.4 per cent or more, in a broad-based recovery largely down to buyers feeling better about their purchasing capacity. "Undoubtedly, interest rates have had a positive flow through to housing markets since February," said Cotality research director Tim Lawless. "But I certainly wouldn't call the rate of growth shooting the lights out. A 0.4 per cent to 0.5 per cent growth rate is much more sustainable than what we were seeing, say, in early 2023 up to mid-2024." After a shallow and short-lived downturn at the end of 2024, the recovery in prices had more to do with sentiment than a genuine improvement in serviceability or access to credit, considering interest rates were still in restrictive territory, Mr Lawless said. "And we know from historical correlations, consumer confidence and housing activity tend to go hand-in-hand." Changes in property values have converged across markets after record divergences in price growth in 2024. In August, there was a 26.1-percentage point difference between the annual growth rate in Perth (24.5 per cent) and Hobart (-1.6 per cent). Price rises have slowed in the Western Australian capital, but properties there still increased at 0.7 per cent in May, behind only Darwin, which grew at 1.6 per cent. While 2024's astronomical growth rate of 19 per cent was unlikely to be repeated, Perth's low price base, strong economy, high interstate migration numbers and low property listings would continue to lift values higher, Mr Lawless said. Nationally, rents grew at 0.4 per cent in May following three straight months of 0.6 per cent gains. On an annual basis, rental growth is clearly trending downwards, with the largest markets of Sydney and Melbourne the softest. Capital city vacancy rates remain below the long-term average at two per cent, boosting prices. Net overseas migration falling back to normal levels after the post-COVID spike and increasing household sizes were keeping a lid on demand. But slow progress on the supply side of the ledger doesn't look like improving soon. Dwelling approvals fell 5.7 per cent in April, the Australian Bureau of Statistics reported on Friday, putting the national target of 1.2 million new homes over five years further out of reach. "Rental affordability challenges are going to be with us for some time yet, given given how tight rental conditions," Mr Lawless said. Following the Reserve Bank's decision to cut interest rates by 25 basis points at its May meeting, governor Michele Bullock said it was not the RBA's responsibility to address housing affordability through monetary policy. Governments, she said, held the levers to fix the imbalance of supply and demand. "There's nothing the Reserve Bank can do about these affordability issues of housing," she said. "This is an issue of housing demand and housing supply, and increasingly this issue is finding its way into the governments, both state and federal governments, and that's where the focus has to be." Home values have set a record as falling interest rates send buyers piling back into the property market. The median dwelling in Australia was worth $831,288 in May - a 0.5 per cent jump on the month before - data released by property analytics firm Cotality, formerly CoreLogic, on Monday showed. Every capital city, as well as the combined regions, exhibited growth of 0.4 per cent or more, in a broad-based recovery largely down to buyers feeling better about their purchasing capacity. "Undoubtedly, interest rates have had a positive flow through to housing markets since February," said Cotality research director Tim Lawless. "But I certainly wouldn't call the rate of growth shooting the lights out. A 0.4 per cent to 0.5 per cent growth rate is much more sustainable than what we were seeing, say, in early 2023 up to mid-2024." After a shallow and short-lived downturn at the end of 2024, the recovery in prices had more to do with sentiment than a genuine improvement in serviceability or access to credit, considering interest rates were still in restrictive territory, Mr Lawless said. "And we know from historical correlations, consumer confidence and housing activity tend to go hand-in-hand." Changes in property values have converged across markets after record divergences in price growth in 2024. In August, there was a 26.1-percentage point difference between the annual growth rate in Perth (24.5 per cent) and Hobart (-1.6 per cent). Price rises have slowed in the Western Australian capital, but properties there still increased at 0.7 per cent in May, behind only Darwin, which grew at 1.6 per cent. While 2024's astronomical growth rate of 19 per cent was unlikely to be repeated, Perth's low price base, strong economy, high interstate migration numbers and low property listings would continue to lift values higher, Mr Lawless said. Nationally, rents grew at 0.4 per cent in May following three straight months of 0.6 per cent gains. On an annual basis, rental growth is clearly trending downwards, with the largest markets of Sydney and Melbourne the softest. Capital city vacancy rates remain below the long-term average at two per cent, boosting prices. Net overseas migration falling back to normal levels after the post-COVID spike and increasing household sizes were keeping a lid on demand. But slow progress on the supply side of the ledger doesn't look like improving soon. Dwelling approvals fell 5.7 per cent in April, the Australian Bureau of Statistics reported on Friday, putting the national target of 1.2 million new homes over five years further out of reach. "Rental affordability challenges are going to be with us for some time yet, given given how tight rental conditions," Mr Lawless said. Following the Reserve Bank's decision to cut interest rates by 25 basis points at its May meeting, governor Michele Bullock said it was not the RBA's responsibility to address housing affordability through monetary policy. Governments, she said, held the levers to fix the imbalance of supply and demand. "There's nothing the Reserve Bank can do about these affordability issues of housing," she said. "This is an issue of housing demand and housing supply, and increasingly this issue is finding its way into the governments, both state and federal governments, and that's where the focus has to be." Home values have set a record as falling interest rates send buyers piling back into the property market. The median dwelling in Australia was worth $831,288 in May - a 0.5 per cent jump on the month before - data released by property analytics firm Cotality, formerly CoreLogic, on Monday showed. Every capital city, as well as the combined regions, exhibited growth of 0.4 per cent or more, in a broad-based recovery largely down to buyers feeling better about their purchasing capacity. "Undoubtedly, interest rates have had a positive flow through to housing markets since February," said Cotality research director Tim Lawless. "But I certainly wouldn't call the rate of growth shooting the lights out. A 0.4 per cent to 0.5 per cent growth rate is much more sustainable than what we were seeing, say, in early 2023 up to mid-2024." After a shallow and short-lived downturn at the end of 2024, the recovery in prices had more to do with sentiment than a genuine improvement in serviceability or access to credit, considering interest rates were still in restrictive territory, Mr Lawless said. "And we know from historical correlations, consumer confidence and housing activity tend to go hand-in-hand." Changes in property values have converged across markets after record divergences in price growth in 2024. In August, there was a 26.1-percentage point difference between the annual growth rate in Perth (24.5 per cent) and Hobart (-1.6 per cent). Price rises have slowed in the Western Australian capital, but properties there still increased at 0.7 per cent in May, behind only Darwin, which grew at 1.6 per cent. While 2024's astronomical growth rate of 19 per cent was unlikely to be repeated, Perth's low price base, strong economy, high interstate migration numbers and low property listings would continue to lift values higher, Mr Lawless said. Nationally, rents grew at 0.4 per cent in May following three straight months of 0.6 per cent gains. On an annual basis, rental growth is clearly trending downwards, with the largest markets of Sydney and Melbourne the softest. Capital city vacancy rates remain below the long-term average at two per cent, boosting prices. Net overseas migration falling back to normal levels after the post-COVID spike and increasing household sizes were keeping a lid on demand. But slow progress on the supply side of the ledger doesn't look like improving soon. Dwelling approvals fell 5.7 per cent in April, the Australian Bureau of Statistics reported on Friday, putting the national target of 1.2 million new homes over five years further out of reach. "Rental affordability challenges are going to be with us for some time yet, given given how tight rental conditions," Mr Lawless said. Following the Reserve Bank's decision to cut interest rates by 25 basis points at its May meeting, governor Michele Bullock said it was not the RBA's responsibility to address housing affordability through monetary policy. Governments, she said, held the levers to fix the imbalance of supply and demand. "There's nothing the Reserve Bank can do about these affordability issues of housing," she said. "This is an issue of housing demand and housing supply, and increasingly this issue is finding its way into the governments, both state and federal governments, and that's where the focus has to be."
West Australian
9 hours ago
- Business
- West Australian
Interest rate cuts fuel rebound in property prices
Home values have set a record as falling interest rates send buyers piling back into the property market. The median dwelling in Australia was worth $831,288 in May - a 0.5 per cent jump on the month before - data released by property analytics firm Cotality, formerly CoreLogic, on Monday showed. Every capital city, as well as the combined regions, exhibited growth of 0.4 per cent or more, in a broad-based recovery largely down to buyers feeling better about their purchasing capacity. "Undoubtedly, interest rates have had a positive flow through to housing markets since February," said Cotality research director Tim Lawless. "But I certainly wouldn't call the rate of growth shooting the lights out. A 0.4 per cent to 0.5 per cent growth rate is much more sustainable than what we were seeing, say, in early 2023 up to mid-2024." After a shallow and short-lived downturn at the end of 2024, the recovery in prices had more to do with sentiment than a genuine improvement in serviceability or access to credit, considering interest rates were still in restrictive territory, Mr Lawless said. "And we know from historical correlations, consumer confidence and housing activity tend to go hand-in-hand." Changes in property values have converged across markets after record divergences in price growth in 2024. In August, there was a 26.1-percentage point difference between the annual growth rate in Perth (24.5 per cent) and Hobart (-1.6 per cent). Price rises have slowed in the Western Australian capital, but properties there still increased at 0.7 per cent in May, behind only Darwin, which grew at 1.6 per cent. While 2024's astronomical growth rate of 19 per cent was unlikely to be repeated, Perth's low price base, strong economy, high interstate migration numbers and low property listings would continue to lift values higher, Mr Lawless said. Nationally, rents grew at 0.4 per cent in May following three straight months of 0.6 per cent gains. On an annual basis, rental growth is clearly trending downwards, with the largest markets of Sydney and Melbourne the softest. Capital city vacancy rates remain below the long-term average at two per cent, boosting prices. Net overseas migration falling back to normal levels after the post-COVID spike and increasing household sizes were keeping a lid on demand. But slow progress on the supply side of the ledger doesn't look like improving soon. Dwelling approvals fell 5.7 per cent in April, the Australian Bureau of Statistics reported on Friday, putting the national target of 1.2 million new homes over five years further out of reach. "Rental affordability challenges are going to be with us for some time yet, given given how tight rental conditions," Mr Lawless said. Following the Reserve Bank's decision to cut interest rates by 25 basis points at its May meeting, governor Michele Bullock said it was not the RBA's responsibility to address housing affordability through monetary policy. Governments, she said, held the levers to fix the imbalance of supply and demand. "There's nothing the Reserve Bank can do about these affordability issues of housing," she said. "This is an issue of housing demand and housing supply, and increasingly this issue is finding its way into the governments, both state and federal governments, and that's where the focus has to be."
Perth Now
9 hours ago
- Business
- Perth Now
Interest rate cuts fuel rebound in property prices
Home values have set a record as falling interest rates send buyers piling back into the property market. The median dwelling in Australia was worth $831,288 in May - a 0.5 per cent jump on the month before - data released by property analytics firm Cotality, formerly CoreLogic, on Monday showed. Every capital city, as well as the combined regions, exhibited growth of 0.4 per cent or more, in a broad-based recovery largely down to buyers feeling better about their purchasing capacity. "Undoubtedly, interest rates have had a positive flow through to housing markets since February," said Cotality research director Tim Lawless. "But I certainly wouldn't call the rate of growth shooting the lights out. A 0.4 per cent to 0.5 per cent growth rate is much more sustainable than what we were seeing, say, in early 2023 up to mid-2024." After a shallow and short-lived downturn at the end of 2024, the recovery in prices had more to do with sentiment than a genuine improvement in serviceability or access to credit, considering interest rates were still in restrictive territory, Mr Lawless said. "And we know from historical correlations, consumer confidence and housing activity tend to go hand-in-hand." Changes in property values have converged across markets after record divergences in price growth in 2024. In August, there was a 26.1-percentage point difference between the annual growth rate in Perth (24.5 per cent) and Hobart (-1.6 per cent). Price rises have slowed in the Western Australian capital, but properties there still increased at 0.7 per cent in May, behind only Darwin, which grew at 1.6 per cent. While 2024's astronomical growth rate of 19 per cent was unlikely to be repeated, Perth's low price base, strong economy, high interstate migration numbers and low property listings would continue to lift values higher, Mr Lawless said. Nationally, rents grew at 0.4 per cent in May following three straight months of 0.6 per cent gains. On an annual basis, rental growth is clearly trending downwards, with the largest markets of Sydney and Melbourne the softest. Capital city vacancy rates remain below the long-term average at two per cent, boosting prices. Net overseas migration falling back to normal levels after the post-COVID spike and increasing household sizes were keeping a lid on demand. But slow progress on the supply side of the ledger doesn't look like improving soon. Dwelling approvals fell 5.7 per cent in April, the Australian Bureau of Statistics reported on Friday, putting the national target of 1.2 million new homes over five years further out of reach. "Rental affordability challenges are going to be with us for some time yet, given given how tight rental conditions," Mr Lawless said. Following the Reserve Bank's decision to cut interest rates by 25 basis points at its May meeting, governor Michele Bullock said it was not the RBA's responsibility to address housing affordability through monetary policy. Governments, she said, held the levers to fix the imbalance of supply and demand. "There's nothing the Reserve Bank can do about these affordability issues of housing," she said. "This is an issue of housing demand and housing supply, and increasingly this issue is finding its way into the governments, both state and federal governments, and that's where the focus has to be."
