Desperate first home buyers are fuelling price ‘up-crash’ at lower end of market, experts say

Biggest house price increases in February come in smaller capital cities as buyers undeterred by interest rate hikes

Hot competition for cheaper Australian homes has powered a relentless “up-crash” in prices despite rising interest rates, economists warn.

Desperate first home buyers have bid up the price of affordable properties as they face off against investors, who have borrowed big despite government warnings they could lose tax discounts and deductions.

Continue reading...

Shark culls brought in after fatal attack causes division and anger in New Caledonia

Authorities say capture of bull and tiger sharks necessary to protect lives as environmentalists launch urgent legal challenge

Some beaches in areas of New Caledonia are closed to swimming and the authorities have begun shark culling off the capital, Nouméa, after a fatal attack in the popular tourist spot – prompting a legal challenge to stop the operation and reigniting debate over public safety and marine conservation.

The culling operation began on 23 February, after a man from New Caledonia riding a wing foil in a recreational area was attacked and killed. Preliminary investigations indicate the victim was attacked by a tiger shark that measured at least three metres.

Continue reading...