Australian house prices rebound in February, CoreLogic data shows
New data from CoreLogic reveals that Australian house prices rose in February 2025, marking a continued recovery in the property market. The national home value index increased by 0.8%, with Sydney and Melbourne leading the gains. Analysts attribute the rebound to strong buyer demand, low housing supply, and expectations of future interest rate cuts. Despite affordability challenges, experts predict further price growth in the coming months, especially in high-demand areas.
Published date: 3 March 2025
Source: ABC News
Australia’s GDP growth slows in December quarter
Australia’s economy expanded at a slower-than-expected rate in the December 2024 quarter, with GDP growth of just 0.3%, bringing annual growth to 1.5%. Weak consumer spending and high interest rates contributed to the sluggish expansion, despite strong exports and government spending. Economists warn that rising living costs and cautious household spending could further dampen growth in 2025. The Reserve Bank of Australia (RBA) is now under pressure to consider interest rate cuts to support economic recovery.
Published date: 5 March 2025
Source: ABC News
Albanese warns insurers against overcharging Australians
Australian Prime Minister Anthony Albanese has issued a warning to insurance companies, accusing them of ripping off consumers by significantly raising premiums despite stable risk levels. He urged insurers to act fairly and not take advantage of policyholders already struggling with the rising cost of living. The government is considering regulatory measures if the industry fails to address concerns. Consumer advocates are calling for greater transparency and oversight to ensure Australians are not unfairly burdened by excessive insurance costs.
Published date: 10 March 2025
Source: ABC News
Trump calls Turnbull ‘weak’ as Australian government braces for US tariffs
US President Donald Trump has reportedly called former Australian Prime Minister Malcolm Turnbull “weak,” as Australia prepares for potential US trade tariffs. The remarks come amid rising trade tensions, with concerns that Trump’s protectionist policies could impact Australian exports if he returns to office.The Australian government is working to strengthen diplomatic ties to avoid harsh trade penalties, but analysts warn that a shift in US trade policy could pose risks for key industries, including agriculture and manufacturing. Officials are urging a balanced approach to safeguard Australia’s economic interests while maintaining strong relations with the US.
Published date: 10 March 2025
Source: ABC News
Coalition proposes public service and migration cuts
The Coalition has proposed significant cuts to public services and migration levels as part of its strategy to address Australia’s fiscal challenges. Opposition leader Peter Dutton argues that reducing public sector spending and limiting immigration will help curb cost-of-living pressures and reduce the government’s financial burden. However, the government has criticized the plan, suggesting that cuts to essential services could undermine economic growth and social welfare. The debate over these proposals is likely to intensify as the election approaches.
Published date: 23 March 2025
Source: ABC News
Budget Week: Albanese’s Opportunity and Dutton’s Test
As the Australian federal budget approaches, the Albanese government aims to capture voter attention ahead of the election. Despite the challenges of a budget deficit, the government has gained momentum recently, especially as Labor has outpaced Peter Dutton on economic alternatives. The budget serves as a platform for the government’s re-election campaign, but the real test lies in Dutton’s budget reply speech. He must demonstrate his ability to propose fresh policies and compete on economic issues. Dutton’s challenge is to shift focus from national security to viable cost-of-living solutions, where Labor has been strengthening its position. This critical moment could shape both his career and the outcome of the upcoming election.
Published date: 24 March 2025
Source: ABC News