Blogotariat

Census data to be released Tuesday shows Australia changing rapidly before COVID, gaining an extra one million residents from overseas in the past five years, almost all of them in the three years before borders were closed.

For the first time since the question has been asked in the census, more than half of Australia’s residents (51.5%) report being either born overseas or having an overseas-born parent.

More than one quarter of the one million new arrivals have come from India or Nepal.

By lifting its cash rate by 0.5 points, from 0.35% to 0.85%, the Reserve Bank has added about another $120 per month in payments for a A$500,000 mortgage.

If financial markets are to be believed, by the end of this year it will have added a total of $800 per month – and, by the end of next year, a total approaching $1,000 per month.