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Vegan Air Canada passenger stunned at lack of airline meals

Vegan Air Canada passenger stunned at lack of airline meals

A woman was left stunned and annoyed after she ordered several vegan meals on a plane – but was served nothing more than a bottle of water during meal service.

Miriam Porter, a travel blogger who goes by the TikTok handle ‘the kind traveller’, was on an Air Canada flight traveling from Toronto, Canada to Frankfurt, Germany.

In a now viral clip that has amassed almost a million views, Miriam explained she ordered several vegan meals during the more than 10-hour flight, but was left hungry after claiming to be served nothing but water.

“POV: You are on an Air Canada flight for over ten hours and order vegan meals,” her post begins.

She then shares footage from the flight showing her first ‘meal’ being a bottle of water.

For “meal 2” she showed a napkin with nothing on it.

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Miriam was eventually given some food – though not part of the proper meal service.

Instead, a flight attendant nabbed a makeshift meal for her from business class.

“Shout out to the kind flight attendant that got me fruit & dinner rolls from business class,” she captioned the clip.

“I love fruit but also like entire meals!” she pointedly added.

Air Canada has a selection of ‘special meals’ that passengers can order in advance. It varies from vegetarian to diabetic, kosher and vegan meal options.

“Special meals are available in all classes of service on all flights where a meal service is offered (except on flights offering Air Canada Bistro service),” its site states.

“We won’t be able to guarantee that your special meal request can be accommodated if it’s submitted less than 24 hours before the first flight in your itinerary.”

However, Miriam said her order was placed “well in advance and confirmed (many times)”.

“This has happened many times sadly. I always preorder in advance and bring my own food in case. But this time it was impossible,” she said.

Her clip has attracted hundreds of comments from users who asked why she just didn’t bring her own food this time.

“I always bring my own food in case but I was on a 24-hour delay and couldn’t make food to bring,” she explained.

Air Canada states: “You may bring your own snacks and food on board, or purchase meals and beverages at the airport before your flight – just make sure to purchase beverages after you’ve passed through security and take into consideration any limitations on bringing food through US pre-clearance when traveling to the US.”

Miriam described the situation as “annoying”.

“Especially since it was day two of trying to get home with little food. But I’m back so a happy ending,” she said.

Miriam added that it took her two days to get home from Berlin.

Her clip prompted others to share their horror food stories, with one woman saying she was served a “small bun with three slices of zucchini” during a long-haul flight.

Another said they were served “lettuce with six cold mushrooms on top” during their flight.

One woman said she was given “chicken on my vegan pre-booked menu”.

Others said they often had to fill up on the bread rolls and snacks such as pretzels and hummus.

News.com.au has contacted Air Canada for comment.

Read related topics:TikTok

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Potential curb on Australian LNG exports is another blow to Asia-Pacific gas markets

Potential curb on Australian LNG exports is another blow to Asia-Pacific gas markets

The Asia-Pacific gas market has suffered another blow after major natural gas producer Australia signaled it could potentially cut down liquified natural gas exports as the region battles tight gas supplies, high prices and competition from gas-short European buyers.

Australia is looking to trim its overseas sales in favor of domestic consumption ahead of a projected shortfall in local supplies next year

As energy protectionism takes hold globally, last week, the Australian Competition and Consumer Commission called on Canberra to protect domestic gas supplies and curb LNG — cooled natural gas — exports after projecting the east coast of the country could face a shortfall of 56 petajoules of gas next year.

For months, the Asia-Pacific region has faced competition for fuel from European buyers looking to replace restricted Russian gas.

These European countries, in scrambling for LNG to mitigate a shortage of pipeline gas ahead of the northern winter, have outbidden some less developed Asian countries.

“To protect energy security on the east coast we are recommending the Resources Minister initiate the first step of the Australian Domestic Gas Security Mechanism (ADGSM),” ACCC Chair Gina Cass-Gottlieb said last week.

“We are also strongly encouraging LNG exporters to immediately increase their supply into the [local] market.”

A liquefied natural gas tanker berth in Japan, on Dec. 17, 2021. Should Japan ever exit the Sakhalin energy projects in Russia and their stakes were acquired by Russia or a third country, this would weaken the effectiveness of Western sanctions and benefit Russia, Japan’s industry minister said on Friday.

Kiyoshi Ota | Bloomberg | Getty Images

Most of the gas used on Australia’s east coast is produced by companies that are also LNG exporters to Asia-Pacific and other countries. The ADGSM stops these producers from exporting LNG if there is a shortfall domestically.

While most LNG sales to overseas buyers are made through long-term contracts, Australian LNG producers also sell ad-hoc and non-contracted LNG on the spot market. Countries without the ability to strike competitive long-term contracts are forced to buy them on the spot market.

It is this LNG supply that the ACCC says producers should avoid selling to the overseas market — currently flushed with gas-starved buyers — and save it for local consumers.

Gas lobby group the Australian Petroleum Production & Exploration Association however has assuaged markets, saying despite the ACCC warning, there is more than enough gas next year and that there has never been an actual shortfall previously.

“It’s certainly been the case throughout the existence of the export industry, that there has been a surplus of gas into the domestic market. So we have been able to achieve both. We don’t go for the idea that it is one or the other,” acting chief executive Damian Dwyer told CNBC’s “Squawk Box Asia” on Tuesday.

“There’s been significant investment into the export industry. And that investment has brought on significant domestic supply. One complements the other.”

But if the mechanism is successfully invoked, new supply and price pressures will be felt by the region’s biggest LNG buyers such as Japan and South Korea as well as newcomers to LNG imports such as the Philippines, analysts say.

LNG prices have soared nearly 80% since before the Ukraine war started in late February, according to the Platts JKM pricing index.

“Since April, there had been no [spot] tend sales from the three major LNG export facilities on Australia’s east coast, indicating that some exports were slowing down,” S&P Global Market Intelligence APAC LNG pricing regional manager Kenneth Foo said.

The Philippines is entering the global LNG market at a time of extreme uncertainty. Global LNG supply is constrained due partly to the Russian invasion of Ukraine, and LNG prices continue to hit record highs.

Sam Reynolds

Institute for Energy Economics and Financial Analysis

“The lack of spot availability from East Coast Australia could in turn further tighten LNG supply within the Asia-Pacific region, especially heading into peak winter demand season in the fourth quarter,” Foo said.

Developing Asian countries like Bangladesh and Pakistan have had to bow out of buying LNG on the spot market, Sam Reynolds, an analyst at the Institute for Energy Economics and Financial Analysis, said.

“Inability to procure LNG volumes in these countries has caused fuel shortages and blackouts, pushing countries to the brink of economic collapse,” he said.

The Philippines, a debutant to the LNG import market, will face tough conditions when it tries to import its first ever shipment of LNG, he adds.

Read more about energy from CNBC Pro

“Inability to buy LNG at competitive rates could leave new terminals and LNG-fired power plants unused and stranded,” he said.

Such setbacks may derail the Philippines’ efforts to boost its LNG sector, already suffering from years of setbacks, Reynolds says.

While countries without long-term contracts like the Philippines may suffer, generally the region’s LNG supply is secure.

Proposed cuts are small

The proposed Australian cuts amount to roughly 14 LNG charges. This is a drop in the ocean of contracted charges shipped each month. In July, Australia exported 100 cargoes among over 300 cargoes shipped into Asia, Reynolds says.

“Cuts would only limit exports of LNG that is not sold under long-term contracts. This means that cuts would have minimal effects on buyers like Japan, Korea, and China, which buy 70% to 80% of their LNG via long-term contracts,” Reynolds said.

LNG markets have bigger problems than Australian curbs. Europe’s jostling for Asia-Pacific’s LNG supply remains the biggest threat, Reynolds says.

Consequently, the rise in energy prices globally have contributed to the surging inflation that many central banks are racing to rein in.

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Suncorp says profit fell 23%, warns of higher premiums for homeowners

Suncorp says profit fell 23%, warns of higher premiums for homeowners

Insurance giant Suncorp New Zealand’s after-tax profits slipped 23% to $165 million in its most recent financial year, despite a huge increase in premiums paid by Kiwi home, car and business owners.

The insurer’s profit drop for the 12 months to the end of June was the result of high inflation, and multiple extreme weather events, the company told investors on the ASX Australian sharemarket.

The company, which owns Vero and has a majority stake in AA Insurance, signaled further premium rises were on the way for policyholders.

Chief executive Jimmy Higgins said: “Multiple weather events experienced during the year resulted in the highest volume of claims since 2018; and customers experienced longer waiting times for repairs to their homes and vehicles because of the delay in getting materials.”

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The profit was also hit by investment results in a highly volatile investment market, increased sickness among employees, and the tight labor market, the company said.

In a presentation to investors, Suncorp said it has posted a 14.1% increase in the premiums paid by its policyholders.

The gross written premiums it collected in New Zealand increased from $1.87 billion in the previous financial year to $2.13b.

Kumeu Gym 24/7 owner Cassandra Keegan was unable to access their business yesterday because flooding last year submerged the gym.

Abigail Dougherty/Stuff

Kumeu Gym 24/7 owner Cassandra Keegan was unable to access their business yesterday because flooding last year submerged the gym.

That included the gross written premiums paid by vehicle owners rising from $460m to $527m, and premiums paid by homeowners rising from $616m to $708m.

Suncorp said the rise in its premium income was the result of both winning new customers, but also price rises on its policies.

Higgins said natural hazard weather events were becoming more frequent and expensive, which had resulted in significant increases to its reinsurance costs.

Net claims, after reinsurance recoveries, were $1.013b, with $107m of that coming from claims related to natural hazards like flooding and hail.

In the previous financial year, total net claims were $864m, with $84m from natural hazards.

The insurer received 9,542 weather-related claims in New Zealand in the 12 months to the end of June.

Higgins said: “Premiums will also be impacted by the pressure on materials and labor costs in repairing homes and cars, as well as the increases in Toka Tū Ake EQC levies following the increased EQC cap changes in October later this year.”

The company had been working on using technology to cut costs.

Suncorp NZ also continued to make ‘remediation’ payments to customers it overcharged for insurance by failing to give the multi-policy discounts.

It had also been working on improving the diversity of its workforce.

It still had a gender pay gap of 13.3%, but now had half of its senior leadership positions filled by women.

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Expert picks 2 ASX shares to buy now while CHEAP

Expert picks 2 ASX shares to buy now while CHEAP

A man reacts with surprise when she sees a bargain price on his phone.

Image source: Getty Images

Yes, the S&P/ASX 200 Index (ASX: XJO) has certainly bounced 9% over the past seven weeks.

But due to the ugly drops in the first half of this year, there are still plenty of tempting bargains out there if you know where to look.

Here is a pair of such ASX shares to buy right now, as suggested by Medallion Financial Group advisor Stuart Bromley.

‘Significant discount’ for software company

Kiwi software provider Xero Limited (ASX: XRO) watched in horror over the first half of 2022 as its share price halved.

However, like many growth stocks, it has raised the past few weeks to be more than 22% up over July and August.

But that still means it is down 35.8% for the year so far.

For Bromley, this means there’s still a buying opportunity for Xero.

“The stock is trading at a significant discount to prior highs,” he told The Bull.

“This accounting software provider was sold down in the past six months, along with many other stocks in the technology sector.”

Bromley reminded investors that customers “tend to stick” with Xero once they have switched over, which is understandable for accounting software.

Small businesses don’t have the appetite to constantly spend time and money to convert their books over to a different system. Big companies don’t either, to be frank.

“Xero has more than 3 million subscribers and continues to build momentum,” said Bromley.

“We like the business, as it’s capital light and scalable.”

The Motley Fool reported over the weekend that Goldman Sachs also believes in the “stickiness” of Xero’s software.

“The broker has a buy rating and $113.00 price target on Xero’s shares,” wrote James Mickleboro.

That makes it 20% upside from the current level.

Upside for when the economy improves

Unlike Xero, Aeris Resources Ltd (ASX: AIS) shares haven’t even had a second-half revival.

All up it’s now worse than half the valuation at the start of this year.

But Bromley likes the look of Aeris Resources now that investment company Washington H Soul Pattinson and Co Ltd (ASX: SOL) is entangled in its affairs.

“This copper and gold miner recently acquired Round Oak Minerals from Washington H Soul Pattinson. The transaction allays fears about AIS mine life, in our view,” he said.

“Washington H Soul Pattinson becomes the biggest shareholder in Aeris, which is positive.”

Aeris produces copper, which dips in price when the outlook for the economy is negative.

“We expect the Aeris share price to recover when copper prices rise and the economy improves,” said Bromley.

“More upside potential exists if the company delivers positive exploration results.”

Aeris will deliver its financials on 25 August.

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2022 Ford Ranger Raptor first drive

2022 Ford Ranger Raptor first drive

Two removable covers in the lower bumper of the second-generation Ford Ranger Raptor give an insight into the tough truck’s capability. Stamped with “remove before flight”, they’re proof the pinnacle of the new Ranger line-up is designed to make you smile – and that it may not always have its wheels on the ground.

I learn this seconds after being asked to brake to 110km/h on a dusty, bumpy dirt track as we bound towards a tabletop rise.

The Raptor heads for the sky before landing with cat-like dexterity, an amazing feat from a 2.4-tonne-plus ute engineered to go fast over just about any terrain.

Our drive is well away from public roads on a private property in the South Australian outback where development mules have been pummeled and punished over tens of thousands of kilometers.

Australia is the global design and engineering hub for the new Ranger and its vast selection of harsh roads makes it the ideal test bed for a truck that will be sold across the globe.

The all-new Raptor builds on a successful formula but its heart has been seriously boosted.

Rather than a fuel-sipping diesel, the new Raptor has a 3.0-liter twin-turbo petrol V6.

Its 292kW and 583Nm outputs are akin to a V8 – and there’s a thirst to match. It slurps a claimed 11.5 liters per 100km but expect real-world use to be higher.

Teamed with a 10-speed automatic, the engine can blast the Raptor to 100km/h in about six seconds – over just about any terrain, courtesy of a permanent four-wheel drive system.

It’s fiery and fast, the engine building enthusiasm as revs rise.

The black twin exhaust tips of these development vehicles have been sandblasted from gravel spewing out from the broad off-road tires, but production versions have a hardier, shiny stainless steel finish.

The Raptor does without the Eco or Tow drive modes in the regular Ranger, replacing them with Sport and Baja settings.

Baja mode keeps the turbo spinning between stabs of the throttle to reduce lag and improve response when darting between corners. It also adds a rortier snarl to the exhaust and preps the suspension for high-speed attacks.

The brakes – discs all around, now with an electronic booster – are primed for gravel, allowing some skidding for added bite on dirt.

The Raptor’s secret sauce is suspension that bears little resemblance to the rugged setup in garden variety Rangers. Left- and right-hand wheels are 60mm further apart, there are bulging wheel arches (the Raptor is 110mm wider than regular Rangers) and there’s a more sophisticated coil-spring system replacing leafs at the back.

The chassis has been strengthened and off-road specialist Fox developed race-inspired shock absorbers with “position-sensitive damping”.

It’s on the landing from a brief airborne excursion that you appreciate the weakness of its control, the dampers almost instantaneously firming towards the end of the suspension travel. They can also tighten to reduce squatting on fast take-offs.

The Raptor points sharply on this challenging terrain and bumps doing little to upset things.

The work going on at ground level means you can cover rough ground ludicrously fast but with control and composure no normal ute comes close to.

It’s an impressive effort for a ute that also tows 2500kg and carries 717 kilograms in a tray that accommodates a pallet.

Rugged BF Goodrich off-road tires claw the loose gravel beautifully, giving the Raptor rally car-like traction. We’ve previously been less impressed with them on wet bitumen, but that’s not the prime remit of the Raptor.

The new Raptor doesn’t come cheap, although against other muscle machines it’s arguably a bargain, starting at about $92,000 drive-away. “Code Orange” highlights – including a rally-like center marker on the steering wheel – and heavily bolstered seats with Raptor badging reinforce the image.

It gets most of the equipment on the Ranger Wildtrak, including ambient lighting, a 360-degree camera, 12-inch touchscreen, over-the-air software updates and a range of active safety systems.

To that it adds a broader 12.4-inch digital instrument cluster and a Premium Pack with 10-speaker Bang & Olufsen audio, overhead auxiliary switches and matrix LED headlights.

But’s it’s the added V6 muscle and impressive dynamic nous that transforms this ute from a workhorse into a roadgoing off-road racer with genuine pace. The original Raptor was proof of concept, the new one has added pace to match its muscles.

VERDICT

The ute equivalent of a GT3 racer covers rough ground ludicrously quickly.

FORD RANGER RAPTOR

PRICE From about $92,000 plus on-roads

WARRANTY/SERVICE 5 yrs/unlimited km, $1316 over four years

SAFETY Nine airbags, autonomous emergency braking, lane-keep assist, speed-sign recognition, 360-degree camera, driver monitor, blind-spot warning

ENGINE 3.0-litre V6 twin-turbocharged, 292kW/583Nm

THIRST 11.5L/100km

SPARE full size

TOWING/PAYLOAD 2500kg and 717kg

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Starburst lollies vanish as Mars Wrigley says brand discontinued in Australia

Starburst lollies vanish as Mars Wrigley says brand discontinued in Australia

A confectionary brand has been forced to respond after lolly lovers spotted their favorite treat had mysteriously disappeared from shelves.

TikToker @nariman.dein took to the social media platform to ask if a conspiracy is underfoot, revealing she’d been looking for Starburst lollies everywhere with no luck.

“Can someone tell me where these lollies went,” she asked her followers.

“I’ve been looking everywhere in Sydney – Big W, Coles – these lollies don’t exist.”

She said the Starburst lollies were the best and asked if anyone else remembered the treats.

“Is there a conspiracy theory – did they just stop selling them and no one realized?” she asked.

Many of the TikToker’s followers echoed the claims, saying they also couldn’t find them.

“I miss the lollipops the most,” one person said.

Another added: “I love those lollies but they stopped selling them – like what, why?”

A third added: “Starburst is just gone I’ve been looking for them too.”

Someone else said: “No lollies compare to Starburst.”

Others claimed there was limited stock at their local IGA, and another added the range couldn’t be found in New Zealand.

The Starburst range included Chews, Babies, Snakes and lollipops.

A spokesperson from Mars Wrigley, which manufactures Starburst, revealed the true reason the popular treats were so hard to find currently in Australia. And for fans, it isn’t good news.

“We regularly review our Mars Wrigley product range to ensure we’re offering our consumers great tasting products that are also great value for money,” the spokesperson told news.com.au.

“Our STARBURST® products are imported from Europe and like many businesses that are importing products from overseas, the brand has been exposed to supply chain difficulties and rising cost pressures over the last two years.

“After reviewing all options, we’ve made the difficult decision to discontinue the brand in Australia from June 2022.

“As a proud Australian manufacturer for more than 60 years, we are taking this opportunity to prioritize and invest in the brands and products we make locally in Australia such as M&Ms, Maltesers, Skittles, Snickers, Extra and Eclipse.”

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Grocery prices: Free lychees send shoppers into frenzy at Sydney’s Paddy’s Markets

Grocery prices: Free lychees send shoppers into frenzy at Sydney's Paddy's Markets

Footage of shoppers in a frenzy after free fruit was offered at bustling Sydney market has perfectly summed up Australia’s cost of living crisis.

Data released by the Australian Bureau of Statistics showed the price of groceries is up 5.3 per cent annually and it is expected to rise further.

Fruit and vegetable prices were up 6.7 per cent, with some products — including staples like lettuce — soaring to ridiculous prices amid shortages.

So when lychees were on offer at the CBD’s Paddy’s Market, it led to dozens of shoppers clamoring over crates to get their fix.

It came as new research revealed supermarkets are forcing many people to overspend, costing households an extra $1,200 each year.

A survey of more than 2000 Australians found about two in five people frequently overspend their food budget and 82 per cent now splurge up to $200 on their weekly grocery shop.

The research, conducted by meal kit delivery service HelloFresh, also found 71 per cent of respondents were worried food items would continue to become more expensive.

Last month, Red Rich Fruits Managing Director Matthew Palise said rising prices have been brought on by a “perfect storm”.

Rising fuel prices, a tripling of fertilizer costs and a countrywide labor shortage have both hit farmers hard as competition ramps up.

A torrential rain season on the east coast — and general disruption from the pandemic — have also contributed to skyrocketing prices.

Mr Palise said they are currently selling off mandarins for between $2.50-$3.50 per kilogram, and has recommended shoppers on a budget go for what’s in season.

Mr Palise said sweet potato, onions, pumpkin and pink lady apples are currently some of the best value for money fruit and veg at the moment, but also reassured the market would ease going into the warmer months.

“You’ll see an easing into spring, especially on the higher priced produce like berries,” Mr Palise told news.com.au in July.

“It won’t go back to pre-pandemic prices, but there is relief on the way.

“My advice to shoppers is to buy local, spot the specials.”

Read related topics:sydney

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Three things to watch out for when using the Bank of Mum and Dad

Cash being handed away by an elderly person

No queues, no paperwork, no PINs to remember, very few customers to deal with — it’s the family-owned bank of your dreams and it has a name: the Bank of Mum and Dad.

It was reported last year that 60 per cent of first-home buyers needed to borrow funds from their parents to get into the property market.

And while doing so is hassle free for many, the seemingly easy-going arrangement can be where the danger lies.

Brisbane lawyer Brian Herd specializes in elder law and often sees clients who have seen the bad side.

“Because the deposits are so high these days and prices are so high, [some clients] can’t afford these deposits by themselves. Nor will the bank lend them the additional deposit,” Mr Herd says.

“So the obvious candidate to do so are their parents.”

Mr Herd spoke to ABC Radio Sydney about the main things parents need to be aware of when lending their children money to access the property market.

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Phone company Circles. Life fined $300k by telco regulator over customer breaches

Phone company Circles. Life fined $300k by telco regulator over customer breaches

A telco company has been slapped with a $300,000 fine because it exposed nearly 2000 Australians to potential scammers.

Circles Australia Pty Limited, trading as Circles.Life, must pay a $199,800 infringement notice as well as $100,000 in compensation to fraud victims.

On Tuesday morning, the telco regulator, the Australian Communications and Media Authority’s (ACMA), announced the hefty costs.

Circles.Life breached the rules for phone number transfers a whopping 1,787 times when it sold SIM cards in retail stores between August and December 2021, according to the regulator.

The phone company was found to have failed to properly check the identity of purchasers, which meant cyber criminals then “took advantage of these lapses”.

As a result, 42 consumers experienced “fraud-related issues” which included their email and bank accounts being breached.

Of those, at least seven lost money to scammers.

The costly penalty is part of the ACMA’s broader crackdown on the telco industry, after implementing sweeping changes last month to combat phone scams which are on the rise.

The phone company should have adhered to multi-factor identification rules, according to ACMA Chair Nerida O’Loughlin.

“It is deeply concerning that Circles.Life did not have proper processes in place for such a long period and that so many people were affected or put at risk of identity theft and fraud,” she said.

“Combating these types of scams requires concerted action by all telcos and one weak link exposes all consumers to harm.

“It is the customers of other telcos who have fallen victim in this case by having their number transferred to Circles.Life without their knowledge.”

The ACMA also added that while the breaches should not have occurred, Circles.Life “responded quickly” when they realized the extent of the problem.

News.com.au has contacted Circles.Life for comment.

In a statement, the company said it had protocols in place for a one-time password verification for online port-ins, but the same rules didn’t apply for SIMs purchased at brick and mortar stores.

In April, the ACMA announced that phone companies will need stronger customer identity checks for “high-risk transactions” like SIM swaps, account changes or switching providers.

The new requirements, called the Telecommunications Service Provider (Customer Identity Authentication) Determination 2022, came into effect on June 30.

Since then, telcos must use multi-factor authentication of their customers’ identities such as confirming personal information and responding with a one-time code, similar to how banks operate. Before the changes, telcos mostly only required a customer’s name, phone number, date of birth and address to authorize a change.

The ACMA warned that noncompliance can lead to “strong action” including “pursuit of significant civil penalties” like in the case of Circles.Life and also potential Federal Court proceedings.

News.com.au has extensively reported on a particularly ominous phone scam known as a SIM swap hack in the past.

A SIM swap hack is when a cyber criminal ports – or re-routes – the victim’s mobile number onto their own phone, allowing them to intercept text messages and reset passwords to things like bank accounts.

In many cases, scammers were able to do so by impersonating the customer to their telco provider, then convincing the company to switch the SIM card over to an eSIM card.

Often the scammers will transfer the phone number to another provider to make it harder for victims to regain control of their account.

News.com.au reported on a Sydney man waking up to find $52,000 stolen from him by SIM hackers, while an Adelaide schoolteacher lost her entire life savings, $43,000, from a similar order.

Between 1 January and 30 September last year, there were at least 510 incidents of reported SIM swaps, resulting in 163 cases of financial loss, according to the ACMA.

These losses amounted to $4.68 million, with the largest single reported loss being $463,782.

Have a similar story? Get-in-touch | [email protected]

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More than 1 in 3 Aussies say they will never be able to buy a home, study reveals

More than one third of aussie don’t think they will be able to buy a home despite property prices falling in 2022, a new study has revealed.
A significant 37 per cent of Australians say they don’t think they will ever be able to afford to buy a home in 2022, marking an increase on the 23 per cent of Aussies who said the same thing last year, according to new research by Finder.

Among gen Z non-homeowners – Australians aged 25 and below – the percentage who feel they will never be able to afford property has increased from six per cent in 2021 to 15 per cent this year, the research has shown.

ANZ expects Sydney property prices to fall about 20 per cent house prices Corelogic data
ANZ expects Sydney property prices to fall about 20 per cent in 2022. (Peter Rae/The Sydney Morning Herald)

Among millennials – those aged 26 to 41 – the amount feeling they will never be able to buy has increased from 21 per cent to 34 per cent.

Finder home loans expert Richard Whitten has said it is sad but understandable that many young people are worried about the prospect of owning a home.

“House prices have skyrocketed over the past few years, and have become downright ridiculous in some areas,” he said.

“But with economists predicting a recession and interest rates finally rising from their rock-bottom lows, it’s likely we’ll see house prices fall in the second half of 2022, especially in Sydney where prices can be more volatile.”

Investment bank Jarden has forecast that property prices in Australia could fall by as much as 20 per cent over the next 18 months.

However, Whitten has suggested a ‘small’ decline in house prices may not mean much after the significant price growth in recent years.

Less people thought it was a good idea to buy property in July than 18 months earlier. (SMH)

“That said, the situation should improve as interest rates continue to climb, and prices fall further,” he said.

The Finder research further showed that only 33 per cent of Australians believed it was a good time to buy property in July, compared to 67 per cent of people thinking it was a good time in December 2021.

Whitten has advised people wanting to save to keep their money in a high-interest savings account as interest rates continue to rise.

“Share trading is also a way to build wealth, and you can get started with as little as a dollar with some platforms, or even investing your spare change through micro-investing apps,” he said.

Finder surveyed 2521 people around Australia who don’t own a home online for the research.

Owner Roland Le Gal says the section has been prone to flooding since a subdivision was built on a marsh at the rear of the property.

House listed for a decade still not sold, so owner bumps up the price