Property Boom Predicted to Start Soon According to Rethink Group, the predicted property market “crash” is over, and Australia is now in a “post-downturn, pre-recovery” phase. A strong rebound is expected to be led by Sydney and Melbourne in 2026, with medians forecast to rise by 7.8% and 6.6% respectively. Key drivers cited include accelerating population growth, limited housing supply, falling interest rates, and increased borrowing power.
The Rising Cost of Housing Affects Major Life Decisions Despite the market rebound prediction, housing stress continues to reshape Australian life:
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Home vs. Kids: A new survey reveals many aspiring homebuyers are delaying starting a family due to mortgage pressures. The financial squeeze is significant; two children could reduce a couple’s borrowing capacity by $90,000–$125,000. Gen Z is most affected, with 60% saying having kids would hurt their chances of buying a home.
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Risk of the 5% First-Home Deposit Scheme:Â A warning was issued that the expanded 5% deposit scheme, while easing market entry, may encourage debt among young buyers who underestimate future mortgage stress and have not built strong savings habits.
Westpac Repays $50M After Payroll Failures In corporate news, Westpac has admitted to 11 years of payroll underpayments, agreeing to repay more than $50 million to 47,000 staff. The failures involved missing casual loadings, penalty rates, leave entitlements, and superannuation. The bank will also pay an additional $800,000 to the government and has agreed to strict monitoring under a legally binding undertaking with the Fair Work Ombudsman.
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