Posted in home improvement loans

Australia should brace for a wave of business failures and growing mortgage stress, the RBA warns, as support measures fall away


Australia’s central bank expects the number of small business failures will “rise substantially” as income and loan pressure builds.

With income support measures and more than $200 billion in loan deferrals set to expire, the Reserve Bank of Australia (RBA) says between 10% and 15% of businesses in hard-hit sectors won’t make it as they run out of cash.

“These businesses are in a tenuous position and are particularly vulnerable to a further deterioration in trading conditions or the removal of support measures,” the RBA wrote in its Financial Stability Review published on Friday.

“Survey evidence indicates that about one-quarter of small businesses currently receiving income support would close if the support measures were removed now, before an improvement in trading conditions.”

While the RBA acknowledged there was “a high degree of uncertainty about the magnitude and timing” of those failures, the prognosis doesn’t look good.

For one, the number

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Posted in kitchen remodel cost

Grand Designs NZ: Extreme Piha beach-house build highlights stress of underestimating cost

REVIEW: There’s a lovely story at the start of this Grand Designs NZ episode – Joseph and Sooz Hardie used to jump the fence with a bottle of bubbles to sit outside an old bach on the clifftop at Piha.

They would lap up the view and pretend it was theirs. And then, lo and behold, the bach came on the market, and it did become their home. (See, dreams can come true.)

Six years later they demolish it to build a better one on the “perilously steep site”. This time, the living areas will be on the lower level, so there will be a flow out to the landscape, because Sooz says the old house felt more like an apartment, with no connection to the “whenua”.

Joseph and Sooz Hardie demolished an old bach that was their first home to build a stunning contemporary home high above Piha beach. They are pictured with Grand Designs NZ presenter Chris Moller (right).

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Joseph and Sooz Hardie demolished an old bach that was their first home to build a stunning contemporary home high above Piha

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Continue Reading Grand Designs NZ: Extreme Piha beach-house build highlights stress of underestimating cost