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Australia Housing Affordability Falls to Historic Lows

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A new housing affordability report from property analytics firm Cotality shows that since the COVID-19 pandemic in 2020, Australian home prices have risen by 47.3 percent, with an average increase of around AUD 280,000. The report notes that in most capital cities, it now takes over a decade to save a standard 20 percent deposit, pushing housing affordability to historic lows.

Sydney remains the most expensive city, requiring an average of 16.7 years to save for a deposit. Other cities also require more than ten years: Adelaide (13.1 years), Brisbane (12.9 years), Melbourne (11.2 years), Perth (10.8 years), and Hobart (10.6 years). The most affordable cities are Darwin (6.8 years) and Canberra (9.5 years).

The report indicates that three key national indicators reached record highs this year: the price-to-income ratio, the number of years required to save a deposit, and the share of income needed for rent. In October, home prices rose 1.1 percent compared to September, marking the fastest monthly increase in more than two years. Housing costs have risen far faster than income, with the median house price now 8.9 times the average income, up from 6.6 times five years ago.

For renters, households now need a record 33.4 percent of their income to cover rent. Affordability in regional areas has declined, narrowing the gap with capital cities.

The report forecasts that in 2026, home prices in capital cities will rise between 6 and 10 percent, with Perth, Brisbane, and Adelaide expected to see the largest increases, while Sydney and Melbourne are likely to experience more modest growth. Although interest rates may remain stable in the short term, the report warns that challenges to housing affordability are expected to persist.

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Trump Holds Talks with Xi Jinping and Japan’s Prime Minister Sanae Takaichi Within 24 Hours

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U.S. President Donald Trump spoke with Chinese President Xi Jinping and Japanese Prime Minister Sanae Takaichi within a 24-hour period.

According to Chinese official sources, Xi spoke with Trump late on the night of November 24, during which both leaders reiterated the importance of maintaining communication. Xi stated that U.S.-China relations have “remained stable” following the Busan meeting and emphasized that the two countries should promote cooperation on the basis of mutual respect. During the call, Xi reiterated China’s stance on the Taiwan issue, highlighting the importance of national sovereignty and territorial integrity.

Following the call, Trump posted on social media, describing U.S.-China relations as “very solid” and disclosed that he had accepted an invitation to visit China in 2026, without providing further details.

Approximately one day later, Trump held another call with Japanese Prime Minister Sanae Takaichi. According to Japanese sources, the call was initiated by Trump and focused on U.S.-China relations and regional developments. Takaichi stated that both sides confirmed they would continue to maintain close communication and described her exchanges with Trump as “maintaining good communication.”

Neither call disclosed specific policy details, but the fact that the U.S. communicated with both Beijing and Tokyo in quick succession is seen as a signal of keeping diplomatic channels open.

Amid rising tensions between China and Japan, the Japanese government has firmly refused to retract Takaichi’s earlier remarks regarding a “Taiwan contingency,” stating that peace in the Taiwan Strait concerns the international community and emphasizing that its position is “fully maintained.” China has recently issued a series of countermeasures against Japan, including flight restrictions and travel advisories, further straining bilateral relations.

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Research Shows Coalition Voter Trust Hits Record Low

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The latest Australian Election Study (AES) results reveal that, for the first time in the 2025 federal election, the Coalition has lost its long-held image as the “better economic manager.” Voters generally perceive the Labor Party as more credible on policies relating to the economy, taxation, housing, and cost of living. The study notes that while the Coalition led Labor by 26 percentage points in 2019, it fell behind by 4 points in 2025—signaling a major shift in its core political assets.

The research, conducted post-election by the Australian National University and Griffith University, surveyed 2,070 voters. Data shows that in nine out of ten policy areas, voters favored Labor, including healthcare, education, and climate change, with the Coalition maintaining an edge only on national security. Although 42% of voters anticipate the economy will worsen over the next year, overall pessimism has declined since 2022, reflecting some confidence in the current government’s economic stability.

On leadership ratings, Opposition Leader Peter Dutton was rated the least popular major-party leader since AES began in 1987, perceived as lacking leadership and motivational qualities—a key factor in the Coalition’s election losses. In contrast, Prime Minister Anthony Albanese enjoys higher approval ratings, but the study notes a long-term decline in voter trust toward major leaders overall, not limited to the opposition.

The report also highlights changes in voter composition—25% of voters indicated they do not identify with any party, a historic high, surpassing the proportion supporting the Liberal Party (24%) for the first time. The study points out that only 21% of millennial voters backed the Coalition in 2025, continuing a trend of younger voters moving away from conservative parties, posing potential challenges for both major parties’ future political landscape.

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Australia’s Emergency Mental Health Crisis Worsens

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New data shows that Australians experiencing mental health crises are spending increasingly longer periods in emergency departments (ED) while waiting for inpatient beds, with some severe cases forced to remain for more than 23 hours. The findings reflect unprecedented pressure on the nation’s emergency and mental health systems. In a report released on the 25th, the Australasian College for Emergency Medicine (ACEM) stated that EDs have been “forced to become the primary entry point” for mental health emergencies, but severe shortages in staffing and beds have pushed waiting times to unsafe levels.

According to the report, nearly 10% of mental health patients now wait more than 23 hours—an increase of around seven hours compared with a decade ago. Between 2016 and 2024, mental health-related ED presentations grew by 11% to more than 310,000, with the sharpest increases seen among First Nations people and those aged over 65. The proportion of high-urgency cases climbed from 63% to nearly 75%. ACEM stressed that mounting pressure is preventing EDs from providing appropriate care.

ACEM president Stephen Gourley warned that without immediate government investment, healthcare quality will worsen. He noted that some patients are left for long periods in brightly lit and noisy emergency areas due to the lack of available beds—conditions he described as “bordering on inhumane.” South Australia, Western Australia and Tasmania were identified as the most affected, with only around 40% of patients receiving care within recommended timeframes.

ACEM is calling on state governments to increase the number of mental health beds and expand community support services, to prevent people from being forced into EDs due to a lack of alternative options. The report highlighted positive results from initiatives such as “Safe Haven Cafes” and collaborative mental-health emergency response models implemented in New South Wales, Western Australia and Victoria, recommending these be rolled out nationwide.

The report comes as federal and state governments engage in tense negotiations over hospital funding. The Productivity Commission recently criticised the national mental health agreement signed three years ago for failing to meet its targets, noting that around 3,000 Australians die by suicide each year, with economic losses exceeding AUD 200 billion.

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