Financial News

Millennials buying their first home might be open to new ideas but they really need to think about settling down, says the demographer. KPMG partner Bernard Salt, who sparked the ‘smashed avocado’ debate last year, says he is “optimistic” about the future for first home buyers (FHBs), pointing to Millennials' “agile” thinking as an encouraging factor. However, in order to access the housing market, Mr Salt believes Millennials need to have a long-term vision. Speaking to The Adviser, Mr Salt…

The RBA is more likely to cut the official interest rate than introduce a hike over the next 12 months, according to a leading economist. AMP Capital chief economist Shane Oliver has flagged the “risk” of a rate cut in the next year, rather than an increase to the official interest rate. The Reserve Bank of Australia (RBA) announced on 6 June that the official cash rate would hold at 1.50 per cent. The last time the cash rate moved…

It could take 'typical' first home buyers 40 years to save enough for a Sydney home deposit, a new report has found. In the UBS report Australian Economic Perspectives; Are first home buyers locked out of housing? it was also revealed that Australia-wide, 'typical' first home buyers will need around 11 years to save for a 10 per cent deposit, or 24 years for a 20 per cent deposit when compounding is taken into account. The findings of the report…