Vic council rates allowed to rise by up to 3.5pc from mid-next year, state government announces

Vic council rates allowed to rise by up to 3.5pc from mid-next year, state government announces

The Victorian government has announced council rate rises of up to 3.5 per cent will be allowed for the 2023–24 financial year, which could lead to increases of hundreds of dollars for some ratepayers.  Key points: Councils will be allowed to raise rates and charges by 3.5 per cent in the 2023/24 financial year The local … Read more

Stabbings at Toronto subway station were random, police say

Stabbings at Toronto subway station were random, police say

Police say an alleged attacker in a stabbing that killed a 31-year-old woman on Toronto’s public transit system and injured another passenger did not know the victims. The slain woman – whom police have identified as Vanessa Kurpiewska – was attacked Thursday afternoon on a subway car. The injured passenger, a 37-year-old woman, was treated … Read more

Vancouver leads country in mom-and-pop landlords

Vancouver leads country in mom-and-pop landlords

Statistics Canada said 11.2 per cent of Vancouver home owners reported income from a rental unit.JENNIFER GAUTHIER/Reuters Recently released statistics show that Vancouver has the highest percentage of mom-and-pop landlords in Canada, which may not come as a surprise for anyone with a mortgage to cover. Statistics Canada said 11.2 per cent of Vancouver home … Read more

How much extra could mortgage repayments cost now the cash rate is 2.85 per cent?

How much extra could mortgage repayments cost now the cash rate is 2.85 per cent?

The Reserve Bank of Australia has increased the cash rate by 0.25 of a percentage point. That means the cash rate is now 2.85 per cent. It is the seventh month in a row the RBA has lifted its cash-rate target.  If you’re on a variable rate, your repayments will probably increase too.  This repayments calculator shows how much extra you … Read more

London pre-open: Stocks to edge up as investors eye BoE, Fed rate decisions this week

London pre-open: Stocks to edge up as investors eye BoE, Fed rate decisions this week

London stocks were set to edge higher at the open on Monday ahead of a busy week that includes rate announcements from the US Federal Reserve and the Bank of England. The FTSE 100 was called to open eight points higher at 7,055. CMC Markets analyst Michael Hewson said: “As we look ahead to this … Read more

Another jumbo Fed rate hike is expected next week — and then life gets difficult for Powell

Another jumbo Fed rate hike is expected next week — and then life gets difficult for Powell

First the easy part. Economists widely expect Federal Reserve monetary-policy makers to approve a fourth straight jumbo interest-rate rise at its meeting next week. A hike of three-quarters of a percentage point would bring the central bank’s benchmark rate to a level of 3.75%- 4%. “The November decision is a lock. Well, I would be … Read more

Liam Dann: Time to hit pause on interest rate hikes?

Liam Dann: Time to hit pause on interest rate hikes?

Central bank hawks can have a huge and potentially disastrous impact on the dollar, international markets, and exchange rates. Photo / NZME OPINION: Central banks are in danger of causing an unnecessarily hard landing by hiking rates too far and too fast. They seem to be reacting to intense pressure from an older generation that … Read more

Canada’s homeownership rate falls to 20-year low, census shows

Canada’s homeownership rate falls to 20-year low, census shows

A construction worker works on a new home in Ottawa on May 27, 2021. The steady climb in home prices has pushed many would-be buyers out of the market and into rentals.PATRICK DOYLE/Reuters Canada’s home ownership rate dropped to 66.5 per cent last year, new census data show, the lowest level since the turn of … Read more

In Toronto, home buyers hone their tactics; rise of the ‘stink bid’

In Toronto, home buyers hone their tactics; rise of the ‘stink bid’

Realtor Andre Kutyan received a ‘stink bid’ for the house at 388 Elm Road in Toronto.Harvey Kalles Real Estate Ltd. In the slouching Toronto-area real estate market, figuring out which seller is motivated to sell at a discount is a game patient buyers are prepared to play. One of the tactics is the deployment of … Read more

Toronto’s fall real estate market off to a slow start

Toronto’s fall real estate market off to a slow start

A sold sign sits in front of a house in Toronto on July 12.COLE BURSTON/The Canadian Press The Toronto-area fall real estate market appears to be off to a slow start so far with only a trickle of new listings arriving in early September. Sales and showings were slow over the Labour Day holiday weekend … Read more