AACo operating profit lifts 14 per cent to 58.4 million
Australia's oldest and biggest cattle producer, AACo, has had a strong year, notwithstanding the threat of US tariffs on Australian beef exports and the threat from the Greens to ban live cattle exports.
The company said on Thursday operating profit was $58.4 million, up 14 per cent, with revenue growing 15 per cent to almost $388 million.
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News.com.au
22 minutes ago
- News.com.au
Melbourne's most in-demand suburbs for home sales
A Melbourne CBD apartment was sold every four hours in the past year, as owners and investors cashed out of the city in their thousands. PropTrack data has revealed the wider capital is the nation's busiest home sales market, with eight of the 10 highest-selling suburbs located in the metropolitan area. And while Melbourne's CBD leads the way with more than 2200 homes sold, Tarneit on the city's western fringe was the second most sold suburb in the nation with 1602 owners moving on in the past financial year, more than four a day, as first-home buyers and interstate investors swarm the suburb. House sells $111k over reserve at 10-bidder auction Other big sales numbers are coming through in Point Cook, Pakenham, Craigieburn and Werribee. There's also more than 60 suburbs across the city that notched a sale a day for the past year, with many of the top selling areas linked to an investor exodus sparked by high interest rates and raised land tax obligations for landlords. But as old investors retreat, new ones are swooping in, with experts reporting fresh interest from interstate buyers and cashed-up house hunters descending on growth corridors where affordable homes are vanishing fast. PropTrack senior economist Anne Flaherty said there is still a flow of local investors exiting Melbourne but data suggests there has been an uptick in demand. 'Melbourne's median home price is now lower than Sydney, Brisbane, Perth and Adelaide, so investors and buyers from other states are starting to view it as a value play,' Ms Flaherty said. 'One of the biggest pressures on local landlords had been Victoria's mounting holding costs, including a sharp increase to land tax. 'The reduction in the land tax threshold has been a major factor. 'On top of that, rising valuations and compliance costs have pushed the overall cost of owning an investment property higher.' Ms Flaherty said many Melbourne apartments are now selling below replacement cost and are poised for a recovery as population growth, particularly from international migration, fuels demand in the inner city. Mortgage Choice Cheltenham broker Rhys Elmi said loan activity was surging across the state, with a record number of pre-approvals this month alone. 'This month has been our biggest ever for loan submissions,' Mr Elmi said. 'A lot of buyers are maxing out that $800,000 cap under the first home guarantee scheme, and from January 2026 it increases to $950,000, which will bring even more people in.' Mr Elmi said couples were leading the charge in the sub-$1m market, particularly in hotspots like Frankston. 'People are still trying to buy below the list price, but in areas like Frankston, they're selling well above,' he said. 'The ones who meet the market are getting in.' 'Would-be buyers need to speak to a broker early and not rush to pay down debts like HECS or car loans before getting personalised advice.' Arin Russell Property director and buyers agent Arin Russell said affordability remained Melbourne's biggest drawcard, especially for interstate investors targeting growth corridors in the north and west. 'Melbourne has pulled back more than other capitals, and a lot of investors are taking advantage of that,' Mr Russell said. 'Interstate buyers are active, while some locals are still sitting on the fence.' Mr Russell said while holding costs had increased, long-term growth potential still made Victoria attractive. 'Serious investors take a national view, they're not deterred by costs if the long-term capital growth is there,' he said. 'Holding costs are high, but so are the opportunities.' OpenCorp chief executive Cam McLellan said his clients were doubling down on the value. 'Yes, the state government has made it tougher,' Mr McLellan said. 'But smart investors don't chase perfect conditions, they adapt. 'Melbourne's population is booming, rental demand is skyrocketing, and supply is tight. 'That's the trifecta for capital growth.' Mr McLeallan said interstate investors were acting decisively while Victorian buyers were 'paralysed by headlines.' 'It's not about postcodes it's about perspective,' he said. 'Locals are looking at properties that have already risen in price and thinking the opportunity's gone. 'Interstaters are looking at the same asset and saying, 'There's still gas in the tank.'' The OpenCorp chief executive warned high-rise CBD apartments were underperforming due to their 'endless vertical supply', high fees and capped capital growth potential. 'We've never recommended high-rise apartments. They fail the fundamentals test, tight yields, high body corp fees, and limited capital growth,' Mr McLellan said. 'Smart investors are reallocating their capital into tightly held metro growth corridors with infrastructure pipelines, land scarcity, and strong family demand. 'That's where the next wave of growth is coming.' Melbourne's Top 20 Suburbs By Sales Volumes Suburb Property Type Number Sold 12 months Melbourne CBD Units 2214 Tarneit Houses 1547 Point Cook Houses 1183 Pakenham Houses 990 Craigieburn Houses 990 Werribee Houses 985 Southbank Units 911 Sunbury Houses 883 Clyde North Houses 880 Truganina Houses 812 Berwick Houses 810 Wollert Houses 780 Mickleham Houses 764 South Yarra Units 750 St Kilda Units 610 Frankston Houses 578 Hoppers Crossing Houses 561 Docklands Units 559 Wyndham Vale Houses 532
News.com.au
an hour ago
- News.com.au
Hyundai Inster review finds top contender in compact EV realm
Cheap electric vehicles. For some time that's been an oxymoron. The influx of new Chinese manufacturers and slowing demand has seen the get-in price decline, but now there is a more recognised brand targeting the basement. Hyundai introduced the compact Inster in April that has a range of 327km with a $39,000 retail starting point. That equates to about $43,500 on the road. It's still a steep ask above the BYD Dolphin Essential which is $31,290 drive-away and has a 410km range. There is also the GWM Ora Standard Range which was recently available for $33,990 (310km range), while the MG4 Excite 51 has been down to $37,990 (350km). Hyundai differentiates itself with a strong dealership network and greater brand reputation. Is that enough to sway buyers from the cheaper alternatives? Our family sampled the base model, although there are extended-range derivatives that push the driving capacity to 360km for an extra $3500 along with the 'outdoorsy' Cross version which tops out the Inster range at $45k plus on-roads. What do you get? Plaudits don't much higher than being named 2025 World Electric Vehicle. That included a panel of more than 90 judges from 30 countries who recognised the Inster for its design inside and out. The bare-bones Inster is reflective of its model positioning, with cloth seat trim and liberal use of plastics across the cabin. Raising the quality bar are twin 10.25-inch screens, one a central touchscreen and the other for the driver instruments. Among the other features are a six-speaker stereo with Apple CarPlay and Android Auto, satnav, along with vehicle-to-load functionality which has a three-pin power point in the front for charging items like laptops, camping equipment, e-scooters and e-bikes. Over-the-air updates can also be undertaken, which means the Inster can get the latest software upgrades without returning to the dealer. That's handy, as servicing is only required every 30,000km or two years. Hyundai offers a prepaid pack of two services for $1310. White, ivory and khaki are all complimentary external colours. Black, yellow and orange add $595. Matt paint options are an extra $1000. Under the floor sits the 42kWh battery, which can be replenished from 10 to 80 per cent using an at-home charger in about four hours. Quicker public chargers would take just under an hour, while a super-fast 120kW one will do it in 30 minutes. We used a standard household power point combined with the provided 10amp charger on our test which proved reasonably quick, taking us from 10-100 per cent in less than 18 hours. How was the drive? Surprisingly adept in varying conditions, a long wheelbase for its size translates to impressive competency on the highway and twisty terrain. On paper the 0-100km/h time of 11.7 seconds looks slow and underwhelming. But the real-world experience is far from pedestrian, with the Inster feeling responsive to acceleration requests and nimble in traffic. Small cars with combustion engines typically feel asthmatic when it comes to hilly terrain, yet the Inster's electric power provided dependable surges up some challenging inclines. Despite its compact dimensions, the Inster has a turning circle of 10.6m. That's better than many vehicles, but given the size it initially felt like it could be tighter (some of our U-turn attempts quickly became three-point turns). Our test saw a thrifty return of 13.2kWh/100km, which was well under the official figure from Hyundai. Most fully electric vehicles we've driven recently are usually well beyond 15kWh/100km. Interior space is also impressive given the dimensions. Four adults can find comfort, with impressive head and knee space for those in the second row. However boot space is limited and we only managed four grocery bags in the boot before requiring the back seat – there is a false floor for additional cargo area. Would you buy one? Kel: Sprightly and distinctive, the Inster regularly induced smiles from onlookers. I enjoyed the drive and loved the exterior styling, especially the circular LED headlights and pixel graphic indicators. The size doesn't suit my demographic, but I could see the appeal for younger EV buyers with $40k to spend or for those who want their second car to be an electric runabout. Grant: When it comes to the bargain basement EVs, you have to look beyond the bottom line. Where the Inster separates itself from the slightly less expensive rivals is performance – it feels more confident and robust on the road than most of the others we have sampled. Sales have been slow and we've seen some Inster demonstrators available with low km for about $37k. For that kind of money it becomes the standout buy in the compact EV realm.
Perth Now
2 hours ago
- Perth Now
Depth of US-Australia ties on show in tariff reprieve
Donald Trump's decision to spare Australia from increased tariffs shows the strength of the bilateral relationship, an expert says, and could give the nation an edge in global trade. While the US president has raised tariffs against dozens of nations, he showed mercy on Australia and kept levies against most products at 10 per cent. This means Australia has secured the lowest tariff rate of any US trading partner, defying speculation it would be hit with a higher levy because Prime Minister Anthony Albanese had not yet met face-to-face with Mr Trump. United States Studies Centre research director Jared Mondschein said the result was not surprising given Australia imports more from the US than vice versa and it has a free trade agreement with America. He said the decision highlighted the strength of the US-Australia relationship. "A lot of people put emphasis on the political leaders meeting, but the alliance is far deeper, wider and more expansive," he told AAP. "It's worth getting a meeting, but I just don't think it's an existential threat to the alliance to be unable to secure one. "Securing a 10 per cent tariff rate is definitely a win for Australia." The development has been celebrated by Trade Minister Don Farrell as a vindication of Australia's "cool and calm" diplomatic approach. Senator Farrell has predicted it could give Australia an advantage over other trading partners whose goods have been slugged with higher tariffs. "Australian products are now more competitive in the American market," he told reporters. For example, Australia and Brazil are two of the biggest beef exporters to the US. The tariff rate on the South American nation's goods has been hiked from 10 to 50 per cent, meaning its beef will become more expensive for American consumers, which could push them towards Australian products. Senator Farrell revealed American forces had pushed Mr Trump to increase tariffs on Australian goods, but the president resisted the calls. Mr Mondschein warned Australia not to get too comfortable. "The only certainty in the Trump administration is continued uncertainty when it comes to trade," he said. "In this administration, probably more than any other administration in modern history, there are a lot of folks who are pretty protectionist." The federal government has said it would continue calling for a complete tariff exemption, but no trading partner has been able to achieve this. Opposition trade spokesman Kevin Hogan said the tariff decision was driven by the US having a trade surplus with Australia, "not because of any effort from the prime minister".
