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construction and property

RBA widely expected to raise cash rate to 4.6% on Tuesday

Illustration accompanying article: RBA widely expected to raise cash rate to 4.6% on Tuesday
  • The Reserve Bank of Australia's monetary policy board is widely expected to raise the cash rate to 4.6% from 4.35% on Tuesday.
  • The expected decision would add another $100 to the monthly mortgage interest bill on a $700,000 loan, according to Guardian Australia.
  • AMP chief economist Shane Oliver said two or three more rate hikes would be "overkill" given the weakened state of the economy and families' finances.
  • Housing Industry Australia's national affordability index hit the lowest level on record at the end of June, according to senior economist Tom Devitt.
  • Financial markets are pricing a 60% chance of a sixth rate increase by mid-2027.
 2026-09-28 · 3 MIN READ

Vistry cuts profit outlook after £661m half-year loss

Illustration accompanying article: Vistry cuts profit outlook after £661m half-year loss
  • Vistry Group, one of Britain's biggest housebuilders, cut its annual profit forecast to £165 million after reporting a £661.3 million pre-tax loss for the first half of 2026.
  • Vistry's first-half result was driven by a £475 million writedown and a £73 million provision for building-safety works.
  • Chief Executive Adam Daniel, who took the helm in April, laid out a turnaround that pulls Vistry out of private home sales in southeast England and trims operations to a 12,000-homes-a-year builder.
  • Vistry blamed "disappointing summer sales of private homes" and Iran-war-linked cost inflation of 3 to 4 percent, and said it received £350 million in government funding in August to build 3,000 affordable homes.
  • Vistry's share price fell more than 8 percent in early trading, with Victoria Scholar of Interactive Investor noting the stock had shed close to 60 percent year-to-date.
 2026-09-24 · 4 MIN READ
Illustration accompanying article: Mallorca courts wealthy American tourists as housing crisis fuels local anger