news

Poor growth due to cautiousness

By Staff Reporter

Poor house price performance is the result of cautious ‘attitudes’ from the Australian public, according to treasurer Wayne Swan.

Despite poor performance in sentiment surveys across the board, treasurer Wayne Swan recently noted that Australian’s should be looking positively at their current situation.

Mentioning interest rate cuts in his ‘Treasurer’s economic note’ yesterday, Mr Swan said that while Australia has not been immune to global economic turbulence, households are currently doing well.

“Australians on a $300,000 mortgage are now paying around $4,000 less repayments per year than they were when Labor came to office,” Mr Swan wrote.

However, he pointed to the current poor property value situation as a result of “more cautious attitudes towards debt that have contributed to the softness,” and also pointed to poor superannuation performance as an area where negativity is obvious.

But, overall, he believed the picture is a positive one, with the population now a 'more equal society than we went in' as a result of the GFC.

"We have an economy that's growing solidly, an investment pipeline in resources worth half a trillion dollars, healthy consumption growth, low unemployment plus contained inflation," he said.

Poor growth due to cautiousness
SPI logo
Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.
Opps.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Location
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
BLUE BAY 49.18%
2.
PAMBULA 43.5%
3.
BERKELEY VALE 42.74%
4.
POINT PIPER 40.52%
5.
NORTH TURRAMURRA 38.12%