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Downsizing with confidence

Integrity One Wealth Advisers  Pty Ltd

Phone : (03) 9723 0522
Email : integrity@iplan.com.au
Web : www.integrityclients.com.au
Fax : (03) 9724 9518

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Integrity Edge

Address:
Suite 2, 1 Railway Crescent
Croydon, Victoria 3136

Mail:
PO Box 1140 Croydon
Victoria 3136

Note :
If you live in the South Eastern or Bayside suburbs please contact our local advisor on (03) 9723 0522.

This information is of a general nature and does not take into consideration anyone’s individual circumstances or objectives. Financial Planning activities only are provided by Integrity One Wealth Advisers Pty Ltd (ABN 35 994 727 125) as a Corporate Authorised Representative (1316489) of Integrity Financial Planners Pty Ltd (AFSL 225051). Integrity One Wealth Advisers Pty Ltd and Integrity One Accounting and Business Advisory Services Pty Ltd are not liable for any financial loss resulting from decisions made based on this information. Please consult your adviser, finance specialist, broker, and/or accountant before making decisions using this information.

Selling the family home and navigating aged care costs

Integrity One Wealth Advisers  Pty Ltd

Phone : (03) 9723 0522
Email : integrity@iplan.com.au
Web : www.integrityclients.com.au
Fax : (03) 9724 9518

Facebook :
Integrity One Wealth Advisers
Integrity Edge

Address:
Suite 2, 1 Railway Crescent
Croydon, Victoria 3136

Mail:
PO Box 1140 Croydon
Victoria 3136

Note :
If you live in the South Eastern or Bayside suburbs please contact our local advisor on (03) 9723 0522.

This information is of a general nature and does not take into consideration anyone’s individual circumstances or objectives. Financial Planning activities only are provided by Integrity One Wealth Advisers Pty Ltd (ABN 35 994 727 125) as a Corporate Authorised Representative (1316489) of Integrity Financial Planners Pty Ltd (AFSL 225051). Integrity One Wealth Advisers Pty Ltd and Integrity One Accounting and Business Advisory Services Pty Ltd are not liable for any financial loss resulting from decisions made based on this information. Please consult your adviser, finance specialist, broker, and/or accountant before making decisions using this information.

Market movements & economic review – July 2026

Stay up to date with what’s happened in the Australian economy and markets over the past month.

June delivered a mixed picture for the Australian economy as the new financial year begins. Headline inflation eased, but underlying inflationary measures rose to their highest level in almost two years, reinforcing expectations that interest rates may remain higher for longer.

Domestic data highlighted ongoing structural pressures. Building approvals remained subdued, signalling persistent constraints on housing supply despite strong demand. Consumer confidence weakened, falling 2.9% to 80.6, returning to pessimistic levels after a brief improvement in May.

Australian share markets were volatile, with the ASX 200 moving within a narrow range as investors responded to shifting rate expectations and global uncertainty.

Globally, shares delivered strong gains, however, risks remain elevated. In the United States, concerns about policy direction and financial stability unsettled markets, while geopolitical tensions including the on-again off-again ceasefire in the Gulf continued to cause inflationary and supply risks.

Click here to view our update.

Please get in touch  if you’d like assistance with your personal financial situation.

Integrity One Wealth Advisers  Pty Ltd

Phone : (03) 9723 0522
Email : integrity@iplan.com.au
Web : www.integrityclients.com.au
Fax : (03) 9724 9518

Facebook :
Integrity One Wealth Advisers
Integrity Edge

Address:
Suite 2, 1 Railway Crescent
Croydon, Victoria 3136

Mail:
PO Box 1140 Croydon
Victoria 3136

Note :
If you live in the South Eastern or Bayside suburbs please contact our local advisor on (03) 9723 0522.

This information is of a general nature and does not take into consideration anyone’s individual circumstances or objectives. Financial Planning activities only are provided by Integrity One Wealth Advisers Pty Ltd (ABN 35 994 727 125) as a Corporate Authorised Representative (1316489) of Integrity Financial Planners Pty Ltd (AFSL 225051). Integrity One Wealth Advisers Pty Ltd and Integrity One Accounting and Business Advisory Services Pty Ltd are not liable for any financial loss resulting from decisions made based on this information. Please consult your adviser, finance specialist, broker, and/or accountant before making decisions using this information.

Was life really better in the good old days?

  Key points

  • Angst about economic conditions has been running high in recent times. This is evident in chronically low consumer confidence readings and a downtrend in measures of happiness. It’s also arguably evident in the rise of populist parties globally and more recently in Australia.
  • There is no doubt that some things were better a generation or two ago. Cheaper housing stands out. But most indicators are far superior today.We are continuing to allow for a further rate hike in August and have another one pencilled in for November reflecting the still rising trend in underlying inflation and risks that it will take longer to bring it back under control,
  • That said there is no denying that “cost-of-living pressures” have been a problem in recent years and a key driver behind this has been poor productivity growth. Unfortunately, there are no quick and easy fixes to this.

Introduction

Lately, there seems to be a heightened level of angst that economic conditions are getting harder and that the two-party political system – and maybe democracy too – is failing voters. There seems to be a hankering for times past that some feel were better. There is no doubt that “cost-of-living” issues have become real in the post-pandemic years. This has been associated with relatively stagnant real household disposable income and poor productivity growth over the last decade. Unfortunately, there are no quick fixes to this. Rather getting productivity up requires hard-nosed economic reforms that may take years to bear fruit. But while the Australian economy does have some real challenges to address, it is worth keeping things in perspective. This note looks at how economic conditions in Australia have changed over the last half century.

Some things are worse today

The table below provides a brief comparison of economic indicators where conditions were better 25 and 50 years ago. These periods were chosen because the 1970s broadly coincided with baby boomers entering the workforce, while Millennials entered in the 2000s and Gen Z in the 2020s.

The bad news is that consumer sentiment seems to be stuck around much lower levels, despite the absence of really high unemployment as seen in the recessions of the 1980s and 1990s. And associated with this over the last 20 years happiness has been trending down. From the next chart it can be seen that the trend in both has been down since around 2015, not just the last few years.

We also paid less tax as a share of our income back then. But housing is the big one – today the ratio of home prices to incomes is way above what it was 25 and 50 years ago, and it takes far longer to save for a deposit. Associated with this has been a down trend in the home ownership rate since it’s mid-1960s peak. And this arguably goes a big way to explain why younger generations may be feeling less happy today as getting a home is seen as too hard.

Of course, in the past things were also less regulated so we may have felt freer, there was a greater sense of community, there was less choice (i.e. four TV channels in the 1960s and 70s versus lots of streaming and TV options now), so less decisions to make, which resulted in less pressure. And there was no social media to bully us, rile us up or create a perpetual sense of FOMO (and in many cases relieve us of our money – though small town gossip was probably worse back then!).

But many economic indicators are far better now

Against this, virtually all other economic indicators are much better today.

In recent decades the economic cycle has been milder with less severe recessions, generally lower unemployment and generally lower inflation. Today we are far better off materially: real household income is double what it was 50 years ago, there is a greater share of the population in employment (~64% versus 60% in the 70s, reflecting more jobs), and the female participation in the workforce has risen (helped by better education, childcare and attitudes).

With this wealth has come more discretionary spending power to devote to things like overseas holidays – 50 years ago, an average Australian had an overseas holiday once every 16 years, now it’s just a bit less than once every two years. And more gadgets like cars – where there is now nearly one for every two people – and household appliances like huge flatscreen TVs. And multiple cafes per suburb with endless choice of coffee and food compared to the burgers and instant coffee of a few generations ago.

But it’s also a far more equitable society. For example, female participation in the workforce has surged from being way below that of men, more girls now go on to a university education than boys and the gender pay gap has fallen sharply (albeit there is still a way to go). It’s hard to look back a generation or two ago and say things were great when opportunities for half the population (i.e. women) were way below those of the other half. At this point we hear the manosphere crowd saying how guys are now discriminated against…and think come on guys “get a grip”! – don’t you realise that manosphere influencers are just telling you what you want to hear so they can get a buck out of you!

And with this surge in income and wealth has come huge medical advances which means we are living longer, active lives. (Of course, this is not to say there are not issues with obesity and too much sugar which may be starting to take a toll in the last few years!)

While we pay more taxes as a share of income, and more is demanded of Government, the social safety net is bigger than ever. It’s seen explosive growth in the provision of spending on welfare, health, aged and disability care – which have each more than doubled as a share of GDP. And Government is mostly doing a good job of protecting us from ourselves and each other, with for instance, a collapse in road death and homicide rates.

Australia is now also a far more diverse country with far more born overseas and less of those that are from a UK/European background. This has led to a richer society (e.g. more restaurants to choose from), a more innovative society and relief from the pressures of an aging population and labour shortages.

Of course, immigration is once again a hot topic – it has been periodically for as long as I can remember – but for most this seems to reflect a concern about poor housing affordability.

And finally, despite all the talk to the contrary, it’s still too high but the suicide rate is around where it was 25 and 50 years ago and is in fact below its level in the pre-WW2 years, the 1960s and the late 1980-90s.

So why do people still feel miserable even with all these economic achievements?

Simply because most people nowadays weren’t around back then! Around 65% of the population was born after 1975, and 78% were either not born or too young in the 1970s to remember it clearly, so much of the hardship discussed in this note sits outside most people’s lived experience. And recency bias means that even for those who were around “back then”, the tougher times they might have had can be hard to recall after three decades of economic growth and virtually no recessions in Australia.

Recency bias and higher baseline expectations also make comparisons with 25 or 50 years ago less meaningful. At the same time, things have indeed gotten a bit worse in the last 5 years.

For example, health outcomes have improved over the long term, helped by medical advances, increased government health spending and better access to health care with e.g. higher bulk billing rates. But bulk billing fell sharply from 2022 until late last year as medical goods and services costs rose, with some surveys suggesting many people delayed medical appointments because of affordability. That marks a clear regression from 2020-2022, when the average bulk billing rate was 89%.

In addition, real wages have gone up significantly over the last 25 and 50 years, but the average wage earner (if they have not upskilled or changed jobs) has seen their pay lag inflation since 2021.

The root core of this is low productivity growth. Coincidentally, the structural decline in happiness in 2015 started around the same time productivity started stagnating.

Concluding comments

None of this analysis is to deny that many are struggling with “cost of living” issues and that there is a wider malaise of dissatisfaction. Government’ need to do more to boost productivity and hence grow living standards and avoid the delusion that the answer is even more government. But we suspect a big part of the problem is poor housing affordability which leads to a growing wealth gap between the haves and the have nots – fix that with a fundamental rebalancing of underlying housing supply and demand, and a lot of the angst will likely fade. This likely involves getting the balance right on immigration but not slashing it such that it just leads to labour shortages and the economy struggling with an aging population.

Finally, we need to recognise that part of the malaise associated with poor happiness and confidence reflects a problem of success. The rise in affluence has led to higher expectations than the economy can at times deliver upon. And social media – itself a product of technological success – may be contributing to the malaise via its focus on grievance and quick hits. Finding better ways to live with this success – and recognise more “things” won’t necessarily make us happier – is probably key.

Dr Shane Oliver – Head of Investment Strategy and Chief Economist, AMP

Important note: While every care has been taken in the preparation of this document, neither National Mutual Funds Management Ltd (ABN 32 006 787 720, AFSL 234652) (NMFM), AMP Limited ABN 49 079 354 519 nor any other member of the AMP Group (AMP) makes any representations or warranties as to the accuracy or completeness of any statement in it including, without limitation, any forecasts. Past performance is not a reliable indicator of future performance. This document has been prepared for the purpose of providing general information, without taking account of any particular investor’s objectives, financial situation or needs. An investor should, before making any investment decisions, consider the appropriateness of the information in this document, and seek professional advice, having regard to the investor’s objectives, financial situation and needs. This document is solely for the use of the party to whom it is provided. This document is not intended for distribution or use in any jurisdiction where it would be contrary to applicable laws, regulations or directives and does not constitute a recommendation, offer, solicitation or invitation to invest.

Integrity One Wealth Advisers  Pty Ltd

Phone : (03) 9723 0522
Email : integrity@iplan.com.au
Web : www.integrityclients.com.au
Fax : (03) 9724 9518

Facebook :
Integrity One Wealth Advisers
Integrity Edge

Address:
Suite 2, 1 Railway Crescent
Croydon, Victoria 3136

Mail:
PO Box 1140 Croydon
Victoria 3136

Note :
If you live in the South Eastern or Bayside suburbs please contact our local advisor on (03) 9723 0522.

This information is of a general nature and does not take into consideration anyone’s individual circumstances or objectives. Financial Planning activities only are provided by Integrity One Wealth Advisers Pty Ltd (ABN 35 994 727 125) as a Corporate Authorised Representative (1316489) of Integrity Financial Planners Pty Ltd (AFSL 225051). Integrity One Wealth Advisers Pty Ltd and Integrity One Accounting and Business Advisory Services Pty Ltd are not liable for any financial loss resulting from decisions made based on this information. Please consult your adviser, finance specialist, broker, and/or accountant before making decisions using this information.

What the Budget changes mean for first home buyers

If you are trying to get into the housing market as a first home buyer you may be aware that the government is trying to “level the playing field” with a range of housing measures that are designed to address inequity – but what does that actually mean if you are trying to buy your first home?

According to the government, the reforms introduced as part of the Federal Budget may support an additional 75,000 Australians into home ownership over the next decade.

This does not mean buying property will suddenly become easy, but the changes will have broad-reaching impact. As it stands, both property listings and clearance rates are down, suggesting buyers and sellers are stepping back from the market until the full ramifications of the budget become clearer (and are legislated).

Even though it’s early days, it’s worth being across what the changes may mean to you.

Opportunities for new investors

Proposed changes to investor tax concessions, including negative gearing and capital gains tax, aim to reduce some of the advantages investors currently have over owner occupiers and encourage more investment into newly built housing instead of existing homes.

The government has also announced a temporary ban on foreign investors purchasing established homes, which is designed to reduce competition in the established housing market and prioritise local owner occupiers.

For first home buyers, these changes could potentially mean less competition at auctions and inspections, particularly for older established homes.

While it’s still not clear exactly what this will mean for property prices, even slightly less competition could help buyers who are already stretching their borrowing limits.

Boosts to housing supply

Another major focus of the government is housing supply.

The problem is that Australia simply does not have enough housing supply to meet demand, which is one of the biggest reasons prices have remained so high.

More housing construction and retaining negative gearing on new builds is intended to help over time. The government has committed billions toward infrastructure and housing development projects, particularly in growth areas and outer suburbs, although these projects will take years to fully flow through to the market.

A lot of the incentives either directly or indirectly favour new housing, which means developers are likely to market heavily toward first home buyers as new builds become available to purchase.

New or expanded support programs

Government schemes to help first home buyers have been in place for some time, and now that we are in a new financial year, several new or expanded support measures are officially available.

A big focus has been on helping younger buyers who are struggling to save a full 20 per cent deposit while also dealing with high rent and rising living costs.

Fresh places in the Home Guarantee Scheme opened from 1 July, which is important because these spots are limited. Eligible buyers who previously missed out may now have another opportunity to apply for a low deposit home loan without paying Lenders Mortgage Insurance (LMI).

The government is also expanding its “Help to Buy” shared equity scheme, which allows eligible buyers to purchase with just a 2 per cent deposit while the government contributes part of the purchase price. In return, the government keeps a share in the property.

For a lot of people, especially single buyers and younger Australians trying to buy without family support, these schemes could make home ownership feel a little more achievable.

The First Home Super Saver Scheme is continuing as well, allowing eligible buyers to use voluntary super contributions to help save for a deposit faster, often with tax advantages compared to saving in a regular bank account.

If you have any questions or need any information please give us a call on 039723 0522.

Suite 2, 1 Railway Crescent
Croydon, Victoria 3136

Email: integrityone@iplan.com.au

Telephone : 03 9723 0522

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Nicholas Berry Credit Representative Number 472439 is a Credit Representative of Integrity Finance (Aust) Pty Ltd – Australian Credit Licence 392184.

This information is of a general nature and does not take into consideration anyone’s individual circumstances or objectives. Financial Planning activities only are provided by Integrity One Wealth Advisers Pty Ltd (ABN 35 994 727 125) as a Corporate Authorised Representative (1316489) of Integrity Financial Planners Pty Ltd (AFSL 225051). Integrity One Wealth Advisers Pty Ltd and Integrity One Accounting and Business Advisory Services Pty Ltd are not liable for any financial loss resulting from decisions made based on this information. Please consult your adviser, finance specialist, broker, and/or accountant before making decisions using this information.

Quarterly property update – June 2026

Housing markets losing momentum as they face stronger headwinds

The last quarter marked a clear shift in housing conditions, with growth continuing to slow and market performance becoming increasingly fragmented. According to Cotality’s June Home Value Index, national dwelling values rose 0.6% over the quarter, reflecting a market that has moved from broad-based growth to a more selective environment.

A multi-speed market

The divergence between markets remains a defining feature of current conditions, with Melbourne and Darwin at opposite ends of the spectrum.

Melbourne recorded the strongest declines over the quarter of 2.3%, followed by Sydney where dwelling values declined 2.1%over the quarter. Canberra also edged lower, down 0.5%. In contrast, Darwin recorded values increasing 5.2%, followed by Perth at 4.8%. While the smaller capitals continue to outperform, growth has moderated as higher borrowing costs and affordability constraints begin to weigh on demand.

As Cotality Research Director Tim Lawless noted, “while the speed of value change remains very different from city to city, the direction is becoming more consistent, with most markets losing momentum as demand-side headwinds intensify.”

Regional markets continue to demonstrate greater resilience than the capitals. Combined regional values rose 2.4% over the quarter, compared with flat conditions across the combined capitals. Lifestyle migration, relative affordability and ongoing population growth continue to support many regional centres.

Market performance also varies across price points. Lower-priced segments have generally remained more resilient, supported by first-home buyers and government incentives. In contrast, higher-value markets have experienced greater weakness as buyers become more sensitive to borrowing costs.

The forces shaping the market

Several factors throughout the quarter have created a more challenging environment for housing demand.

Recent interest rate increases have reduced borrowing capacity and placed additional pressure on household budgets. The Federal Budget has also influenced sentiment, particularly among investors, with proposed changes to negative gearing and capital gains tax arrangements creating uncertainty in some parts of the market.

Analyst Luc Redman of the REA Group said the combination of changes to capital gains tax, negative gearing and development investment would shape the market in ways that cannot entirely be anticipated. “The combination of these policies is not well understood in the public domain over the long term, though it is likely the incentives for new builds will support an increase in supply as much as construction and zoning constraints currently allow. In the short term, due to these changes, it is likely home prices soften slightly and rents increase marginally.”

Supply, listings and buyer activity

Market activity softened during the quarter.

New listings increased across many cities as more vendors sought to sell, but buyer demand has not kept pace. Cotality estimates national home sales over the past three months were 2.2% lower than a year earlier and 4.1% below the five-year average.

Auction markets have also weakened. Preliminary national clearance rates fell to 54.5% at the end of May, with Sydney recording some of the sharpest declines.

What continues to support values?

Despite softer demand conditions, several factors continue to provide support.

Housing supply remains constrained, with elevated construction costs, labour shortages and project feasibility challenges limiting new housing delivery. Population growth remains solid and continues to underpin demand for both owner-occupied housing and rentals.

The labour market is also providing stability. Employment conditions remain relatively strong and mortgage arrears are low by historical standards, reducing the likelihood of widespread forced selling.

Rental markets remain exceptionally tight, with low vacancy rates and ongoing rental growth continuing to support investor demand.

Looking ahead

The full impact of recent rate rises and Federal Budget measures is yet to be fully reflected in market activity and may become more evident over coming months. However, housing supply constraints, population growth and resilient employment conditions should continue to provide a floor under values.

As Tim Lawless observes, the most likely scenario is not a dramatic market correction but rather “a further loss of momentum and a drift towards lower home values”. For buyers, sellers and investors alike, the remainder of the year is likely to be defined by a more balanced market and increasingly localised performance.

Dwelling values over the quarter

Melbourne 

The Victorian capital decreased by -2.3% over the quarter, taking the city’s median dwelling price to $812,621. Investors should take note that the gross rental yield figure for Melbourne is 3.9%.

Sydney

Sydney also showed a decrease in property values over the per cent of -2.1%, resulting in a median of $1,282 million. The gross rental yield for the Harbour City remains the lowest of the capitals at 3.2%.

Brisbane

The Queensland capital continues to record the second most expensive spot for dwelling values at $1,126 million and a quarterly rise of 3.4%. Brisbane’s gross rental yield remained at 3.3%.

Canberra

The national capital recorded a decrease of -0.5% during the quarter with the median now sitting at $890,555. For Canberra, the gross rental yield stayed constant at 4.1%.

Perth

Perth again recorded the strongest increase of all the capitals, growing by 4.8% over the quarter, which took it’s medium value to over one million dollars at $1,050,354. Perth recorded 3.6% gross rental yield.

For more information about how you might be able to purchase a property in the current market, get in touch with us today 0n 03 9723 0522.

Note: all figures in the city snapshots are sourced from: Cotality national Home Value Index June 2026.)

If you have any questions or need any information please give us a call on 039723 0522.

Suite 2, 1 Railway Crescent
Croydon, Victoria 3136

Email: integrityone@iplan.com.au

Telephone : 03 9723 0522

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Nicholas Berry Credit Representative Number 472439 is a Credit Representative of Integrity Finance (Aust) Pty Ltd – Australian Credit Licence 392184.

This information is of a general nature and does not take into consideration anyone’s individual circumstances or objectives. Financial Planning activities only are provided by Integrity One Wealth Advisers Pty Ltd (ABN 35 994 727 125) as a Corporate Authorised Representative (1316489) of Integrity Financial Planners Pty Ltd (AFSL 225051). Integrity One Wealth Advisers Pty Ltd and Integrity One Accounting and Business Advisory Services Pty Ltd are not liable for any financial loss resulting from decisions made based on this information. Please consult your adviser, finance specialist, broker, and/or accountant before making decisions using this information.

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