Sky News host Peta Credlin says new research has revealed higher interest rates are forcing more businesses “to the wall”.
Data compiled by the International Monetary Fund shows that after factoring in inflation, house prices across Australia have climbed by more than ten per cent since 2019 – among the highest in the world.
Interest rate hikes pushing businesses ‘to the wall’
At the same time, data from CreditorWatch shows the number of external administrators appointed to Australian businesses has hit a record high – 22 per cent higher than 2023.
“We already know a lack of housing availability is driving up property prices and that rising interest rates are squeezing family budgets,” Ms Credlin said.
“But new research shows higher interest rates are also forcing more businesses to the wall.
“Almost 24 per cent of those businesses are in the construction sector – the very businesses we need to help us solve the housing crisis.”
News Related-
High court unanimously ruled indefinite detention was unlawful while backing preventive regime
-
Cheika set for contract extension as another Wallabies head coaching candidate slips by
-
Analysis-West's de-risking starts to bite China's prospects
-
'Beyond a joke' Labor won't ensure PTSD protections: MP
-
Formula One season driver ratings: Lando Norris shines as Max Verstappen nears perfection
-
Catalina golfer Tony Riches scores Guinness World Record four holes in one on same hole
-
Florida coach Billy Napier fires assistants Sean Spencer, Corey Raymond with expected staff shakeup ahead
-
Rohingyan refugee NZYQ accidentally named in documents published by high court
-
Colorado loses commitments of 2 more high school recruits
-
Queensland Health issues urgent patient safety alert over national bacteria outbreak
-
Townsville Community Pantry 'distressed' by fruit, vegetable waste at Aldi supermarket
-
What Is The Beaver Moon And What Does It Mean For You?
-
Labor senator Pat Dodson to resign from politics due to health issues
-
Hamas releases 11 more hostages, as Israel agrees to extend ceasefire