Billions gone as super shrinks
SUPER funds have turned in their worst annual performance since superannuation became compulsory in 1992. Volatile share market conditions at the tail end of the financial year means your retirement nest egg is likely to have taken a hiding in June.
Data out from SuperRatings shows that the median balanced super fund – which spreads its money across a broad range of investments – lost 3.9 per cent in June, and 6.39 per cent over the year to June according to data released by SuperRatings.
Rents heading up as housing sales tumble
RESIDENTIAL sales in the capital cities slumped 24 per cent in the first three months of the year as interest rates climbed and consumer sentiment collapsed.
Figures released yesterday by RP Data show that home sales in the three months to March were lower than in any quarter since before June 1999, when the real estate research firm began compiling sales volumes nationally on the mainland capitals.
Australians clock credit card debt
AUSTRALIAN credit card debt levels have posted their slowest annual growth in 14 years as higher interest rates deter consumers from opening their wallets.
Meanwhile, bad debt and household interest servicing levels have reached historic records, even before the major banks raised their lending rates independently of the RBA.
Most petrol-hungry cars named and shamed
THE Holden Commodore has been outed as the most petrol-hungry of Australia’s big-selling cars, as motorists mull over how to combat high fuel prices.
The Federal Government has released a list of which cars use the most petrol to inform consumers – and it’s bad news for Commodore and Falcon owners.
How to get the best price in a property slump
LAST week it was reported that more than 50 per cent of homes across Australia dropped in value – the worst housing slump in nearly 80 years, according to Residex. In Sydney alone, prices fell by more than 1 per cent during June to a median of $573,000.
Coupled with rising petrol prices, mounting concern over interest rates and low consumer confidence, homeowners face uncertain times ahead.
Party’s over as house sales fall
“It’s a long-term plan,” he said this week. “We’ll sit tight and wait until I get older before we do anything.”
There are indeed some bargains to be found in the suburbs that are hurting the most from rising interest rates and falling values.
For example, an as new two-storey, three-bedroom townhouse in St Marys is on the market for $270,000. Agent Robert Henry said it could go for $10,000 to $15,000 more if it wasn’t being sold under instruction from the mortgagee.
Trawling mortgage sales for bargains
DAVE Baker knows Struggle Street. He is a typical battler of western Sydney who values family and friends, works hard but seemed destined to never see the return for his labours that those on the eastern side of the city take for granted.
Families get better deals on health cover
CHILDLESS couples pay the same in health insurance premiums as families with children, research shows.
Financial services research group Cannex’s study of 1500 forms of health cover said families were in a better position to afford private health insurance.
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