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Sports

Tigers mid-season signings, Chairman Lee Hagipantelis, August 1 signing deadline scrapped, contracts, David Nofoaluma, Oliver Gildart, Storm Roosters, Peter V’landys

Tigers mid-season signings, Chairman Lee Hagipantelis, August 1 signing deadline scrapped, contracts, David Nofoaluma, Oliver Gildart, Storm Roosters, Peter V'landys

Tigers chairman Lee Hagipantelis has slammed rivals for “exploiting” the August 1 signing deadline after finals contenders raided the merger club’s outside back stocks.

Bellamy’s Storm signed flyer David Nofoaluma, while the Roosters acquired English import Oliver Gildart’s services for the remainder of 2022.

While Hagipantelis agrees there are some benefits of letting players go on short-term loans — he believes clubs should have to look within for recruits to replace injured or suspended squad members.

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“My personal view is I am not a fan of the transfer system this late in the season, I agree with Peter V’landys that it is there to be exploited,” Hagipantelis said on Fox Sports News.

“The intentions when it was introduced were all very altruistic to assist during the Covid pandemic, but it has gone further than that now.

“And if there is one thing that NRL clubs are good at doing, that is exploiting the rules.

“I think that this late in the season, clubs that are struggling for reasons of injury or suspension should look to themselves, it is a test of their own resilience and their depth.

“I am not in favor of the top four or top eight teams cherry-picking from the bottom eight to enhance their prospects of a premiership, they should be relying on their own assets.

“But as I say, the rules are there to be exploited.”

‘Can’t be repaired’ – Are Manly split? | 03:58

Hagipantelis was also asked how he thinks the fans have reacted to the club allowing players to leave for the remainder of 2022 — revealing the overwhelming response was positive.

“I think it has been understanding, I think people understand that there is a forensic and financial advantage to an NRL club in this loan system,”

“There can be advantages to the player as well to experience an alternate reality and then come back, David Nofoaluma is a perfect example.

“I know David personally, I think it will be very good for him to get away from Sydney to play in Melbourne and in all likelihood play in the finals.

“He is very keen on coming back to the Wests Tigers with that experience under his belt, we see how David plays when he plays for Samoa when he has something to play for.”

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DEADLINE DAY: Grading your club’s mid-season moves as frenzy shakes up title race

RESERVES WRAP: Tigers star’s big switch as beast stuns; answer to Storm’s woes

‘PREFER FOR LESS MONEY’: Sheens backs Brooks to stay at Tigers on reduced deal

The Daily Telegraph’s Buzz Rothfield revealed on NRL360 ARLC chairman Peter V’landys was set to move to August 1 deadline back to its original June 30 date.

In 2020, the cut-off was moved to assist teams stuck in Queensland fill their squads without reserve grade competitions taking the field.

NRL360 co-host Paul Kent was “disappointed” the NRL didn’t have the foresight to shift the date back, labeling it an “oversight” from powerbrokers.

“The whole thing is a win for common sense, it needed to happen, I am disappointed it was allowed to happen this year, I think it was an oversight that they have allowed it to happen,” Kent said.

How long will Carrigan get for hip drop? | 03:22

“The fact is, this is wrong for so many reasons this August 1 deadline, it is allowing teams to troubleshoot their rosters.

“The part of the game’s appeal is your 30-man roster gets you through the season, and it is the attrition and the endurance to last the season and to get to the finals in a good state of fitness.

“If you can’t do that for whatever reason… so be it, but that is a part of the magic of this competition.”

Fox League’s James Hooper agreed, explaining clubs making late-season signings “cheapens” the values ​​that NRL clubs have stood for.

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EELS MOVE BLOCKED: Knights bosses deny Parramatta’s attempts to sign Klemmer

‘ONLY MINOR CONTACT’: MRC reveals why Storm enforcer escaped punishment

It has long been the attitude of the rugby league fraternity that your roster is what you have to work with for that season, and if replacements are needed they came from reserve grade.

Now clubs are able to cast an eye across the competition and cherry pick the best players from teams who will not be playing football finals.

“For a game that has been founded on tribalism, it just cheapens that whole concept because for the weaker clubs, what does it say for their fans,” Hooper said.

V’landys moves transfer deadline | 03:02

“They don’t get anything out of the fact that the strong clubs sit back and know the deadline is looming, know they have got time.

“Look at the Storm, how many players did they go after from Reece Walsh to Adam Doueihi… the list went on.

“That can’t be sitting well with the clubs down the bottom of the ladder.”

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“For those middle teams… they get no benefit out of it, and I actually believe they are harmed by it because they can’t troubleshoot,” Kent said.

“The middle teams are not attracting players and they aren’t loaning players because it is just too tight, they need all hands on deck.

“They were being impacted, it was basically strengthening the top four teams who have the ability to go and pick the eyes out, as has happened, of the bottom four teams and just target their better players.”

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Australia

Australia weather: BOM declares negative Indian Ocean Dipole, marking 60-year first

Australia weather: BOM declares negative Indian Ocean Dipole, marking 60-year first

Australia’s wet patch will continue for months, a new finding reported by the Bureau of Meteorology suggests.

A negative Indian Ocean Dipole (IOD) has just been declared, meaning some serious wet weather is likely for large areas of the country throughout the rest of the year.

It is the second consecutive year we’ve had a negative IOD – the first time that has happened since the 1960s.

The IOD has three phases: neutral, positive and negative. Events usually start around May or June, peak between August and October and then rapidly decay when the monsoon arrives in the southern hemisphere around the end of spring.

The BOM reported the weather shift caused by a negative IOD could also have significant impacts on agriculture.

A negative IOD often results in cooler than average maximum temperatures over southeastern mainland Australia, while maximum and minimum temperatures in the far north of Australia are typically warmer than average.

Over half of the country on the east coast has roughly an 85 per cent chance of exceeding last year’s rainfall through spring.

‘Exceptionally dangerous’ conditions

A fierce double whammy weather system will lurch across Australia this week which in some areas will bring “exceptionally dangerous” conditions.

Huge waves, hundreds of millimeters of rain, flash flooding and gale force winds are all on the cards. And it won’t be a flash in the pan either with the slow moving system potentially lasting all week.

As many as six states could be hit with Western Australia and parts of Tasmania, Victoria and New South Wales particularly in the firing line.

“A prolonged period of wet and windy conditions will impact southern Australia this week as a series of powerful cold fronts sweep across the country,” said the Bureau of Meteorology’s Johnathan How.

“There is a very large mass of cold and unstable air over the Southern Ocean. And it’s this entire complex that will shift northwards and bring those wet and windy conditions to the rest of southern Australia.”

Sky News Weather senior meteorologist Tom Saunders said there were two key features with this system.

“Firstly, it’s slow moving so it will take the entire week to move from the south of Western Australia towards the southeast.

“So because of the slow movement of the system, it’s not just a few hours of severe weather for Western Australia – it’s three days.

“Secondly, it’s a strong system with strong to gale force winds”.

One front will move earlier in the week followed by another a couple of days later potentially bringing even more rain.

Adelaide was expected to see up to 10mm of rain on Tuesday with potentially damaging winds and thunderstorms for late morning onwards.

Rain will continue across much of the country on Wednesday, and then the front will come through on Thursday and Friday bringing up to around 25mm of rain over those two days.

A severe weather warning is in place for all of South Australia aside from the state’s north and extreme east around Remark. Damaging wind likes of up to 90 km/h are a possibility.

Mostly clear in Melbourne on Tuesday before the wind cranks up in the evening.

Showers can be expected for the rest of the week but the rain totals will be below 10mm each day.

In Sydney, showers are expected on Thursday followed by mostly sunny skies and 22C highs.

– with Benedict Brook

Read related topics:Weather

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Sports

NSW Sports Minister says moving NRL grand final from Sydney would be ‘extraordinary’ move

NSW Sports Minister says moving NRL grand final from Sydney would be 'extraordinary' move

NSW Sports Minister Stuart Ayres says it would be “extraordinary” for the NRL grand final to be moved from Sydney over a row about upgrades to suburban stadiums.

The NSW government’s decision to back out of plans to upgrade several suburban stadiums across Sydney put it at odds with Australian Rugby League Commission (ALRC) chair Peter V’landys.

Mr Ayres attributed the financial impact of the recent flood crisis for the decision not to proceed with funding the agreement.

Mr Ayres, speaking from the rebuilt Sydney Football Stadium on Tuesday, said the government had spent more than $1.5 billion on sporting infrastructure since 2014.

That figure includes the $828 million redevelopment at Moore Park, the $300 million CommBank Stadium at Parramatta and funds for ground upgrades and centers of excellence, he said.

He said projects such as those “massively benefits the NRL”, and he was sure the grand finale would stay in Sydney.

“I think if the NRL walked away from the home of its sport here in NSW, the state that the grand final has always been played in, with the exception of the COVID grand final from last year, that would be an extraordinary move,” Mr Ayres said.

“I’m very confident that the NRL will keep the grand finale here in NSW. They know it’s the right thing to do.”

Stuart Ayres looks to the sky with a grandstand behind him
Sport Minister Stuart Ayres says the government has made big commitments to stadiums in Sydney. (AAP: Bianca De Marchi)
A large blue and white grandstand with pristine grass before it
Allianz Stadium has been rebuilt at a cost of $828 million.(AAP: Bianca De Marchi)

Mr V’landys has lobbied the state government to pay for the upgrade of heartland grounds including at Manly, Leichhardt, Cronulla and Penrith.

It is understood Mr V’landys used the threat of moving the NRL’s decider interstate as a bargaining chip during a meeting with the government in April.

Asked when leaving that meeting if the grand finale would stay in Sydney, he said: “At this stage, yes.”

There has only been one year when the premiership was not settled in Sydney — that came in 2021 when the game was moved to Brisbane due to COVID-19 restrictions in NSW.

Mr Ayres today said the government would honor its commitment to build a new stadium in Penrith, his home electorate, as the development also formed part of its three cities plan for Sydney.

“We also know that we’ve always got limitations on what we can do,” he said.

“We are continuing our engagement with the NRL. We want to be able to upgrade suburban infrastructure but we want to be able to do that when the fiscal capacity of the state allows for it.”

The Australian Rugby League chairman speaks at an NRL media conference.
ARLC chairman Peter V’landys has pushed for investment in suburban grounds.(AAP: Joel Carrett)

The Minister said the government was facing huge costs associated with the recovery effort from NSW’s devastating floods, which ranged from the state’s north to Sydney.

He said a similar decision was made at the start of the COVID-19 pandemic when a planned rebuild of Stadium Australia was shelved.

“We’ll continue to talk with the NRL about what we can afford to do. But we’ve got priorities and we’ve gotta make sure we stick to those,” Mr Ayres said.

“These are the tough decisions governments have to make.

“It just might mean that we have to wait a little bit longer before we can spend additional money on those venues.”

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Business

Sydney and Melbourne airport chaos as dozens of travelers told to expect huge queues and delays

Dozens of travelers at Melbourne Airport have been warned to expect delays as giant queues are seen snaking across the terminal on Monday morning (pictured)

Airport chaos as 20 flights from Melbourne and 21 out of Sydney are canceled due to ‘domino effect’ from Qantas IT glitch – causing massive queues through terminals

  • Chaos at Melbourne Airport with huge queues stretching across the terminal
  • Similar scenes at Sydney Airport on Monday as 21 domestic flights canceled
  • Delays come after Qantas flights grounded due to IT glitch on Sunday night
  • Weary passengers took to social media to complain about widespread delays

By Olivia Day and Kylie Stevens For Daily Mail Australia

Published: | Updated:

Dozens of travelers at Sydney and Melbourne Airport have been warned to expect long queues, delays and cancellations just hours after an IT glitch.

Passengers were confronted with chaotic scenes at the airport on Monday morning with lines seen stretching all the way to the international terminal.

Queues also formed at the airport’s service desk after 20 domestic flights were canceled leaving travelers scrambling to book another flight.

Similar scenes unfolded at Sydney Airport where 21 domestic flights were scrapped across four airlines throwing the travel plans of hundreds into disarray.

Dozens of travelers at Melbourne Airport have been warned to expect delays as giant queues are seen snaking across the terminal on Monday morning (pictured)

Dozens of travelers at Melbourne Airport have been warned to expect delays as giant queues are seen snaking across the terminal on Monday morning (pictured)

Qantas, Virgin Australia, Jetstar and REX have canceled flights out of Sydney with some frustrated travelers receiving just a few hours notice.

Virgin Australia axed 10 flights, Qantas canceled eight, with two flights dropped by Virgin and Rex dumping one.

In Melbourne, Qantas dropped seven flights, five from Emirates and Virgin Australia, two from American Airlines and one from British Airways.

The canceled flights at both airports were between 6:30am and 7pm on Monday.

It’s understood the flights were canceled to and from Sydney due to operational reasons, including resourcing challenges and engineering requirements.

The delays come just hours after the travel plans of thousands of Qantas passengers were disrupted by a nationwide computer glitch.

Hundreds were left waiting onboard grounded plans on runways across the country on Sunday night after an IT glitch delayed up to a dozen domestic flights.

Frustrated passengers took to social media to vent their frustration

Frustrated passengers took to social media to vent their frustration

Hundreds of passengers spent hours in airport lounges waiting to board delayed flights

Hundreds of passengers spent hours in airport lounges waiting to board delayed flights

The computer glitch has also impacted flights trying to take off across New Zealand

The computer glitch has also impacted flights trying to take off across New Zealand

Qantas said the issue was discovered at about 4:30pm on Sunday and had impacted 12 domestic flights with some grounded for nearly two hours. The glitch was fixed at about 6pm but caused flow-on delays throughout the evening.

Furious travelers keen to get home in time for the start of the working week took to social media to vent about the delays.

‘Any update on your international computer outage impacting every single flight from departing???? Sitting on fully packed plane on tarmac for 90mins for 2hr is pretty ridiculous!’ one grounded traveler smoked on Twitter.

The computer glitch has also affected Qantas flights across the Tasman trying to take off in New Zealand.

‘Still waiting at 7pm to leave on my Qantas plane from Auckland that was meant to leave at 5.40. Paperwork still has to be signed off,’ one traveler wrote.

Wet weather as well as a surge in flu and Covid cases for airline staff have been blamed for the pattern of delays and cancellations in Sydney and Melbourne.

Passengers were confronted with chaotic scenes at the airport on Monday morning with lines seen stretching all the way to the international terminal (pictured)

Passengers were confronted with chaotic scenes at the airport on Monday morning with lines seen stretching all the way to the international terminal (pictured)

The latest blunder comes on the back of a tough year for Qantas, with travelers reporting long delays, lost luggage and problems with customer service.

Qantas has cut more flights from its schedule as the airline is plagued with industrial disputes, understaffing, poor organisation, cancellations and delays as furious passengers share their horror experiences of traveling with the national carrier.

The news prompted Qantas Domestic and International CEO Andrew David to issue an on-air apology and vow to do better in the future.

‘Let me start by saying an apology to all your listeners. We are the national carrier, people have high expectations of us, we have high expectations of ourselves and clearly over the last few months we have not been delivering what we did pre-Covid,’ he told 2GB’s Ben Fordham last week.

Mr David confirmed Qantas had ‘reduced some of our flying this month’ and was ‘planning to do the same next month’ amidst ‘operational pressures’.

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Entertainment

David Wenham spends $2.75million on a four-bedroom home in Brisbane

Actor David Wenham has relocated from Sydney to Brisbane with his family after buying this gorgeous home in the riverside suburb of New Farm

Aussie actor David Wenham spends $2.75million on a newly renovated four-bedroom home in Brisbane after leaving Sydney

By A. James For Daily Mail Australia

Published: | Updated:

David Wenham has relocated from Sydney to Brisbane with his family after buying a gorgeous home in the riverside suburb of New Farm.

The Pirates of the Caribbean star, 56, spent $2.75million on a four-bedroom, four-bathroom home at the start of the Covid pandemic in 2020, but the sale wasn’t reported until this week.

Located just 2km from the CBD, the three-storey property last went under the hammer in 2017 for $1.726million, reports The Courier-Mail.

Actor David Wenham has relocated from Sydney to Brisbane with his family after buying this gorgeous home in the riverside suburb of New Farm

Actor David Wenham has relocated from Sydney to Brisbane with his family after buying this gorgeous home in the riverside suburb of New Farm

Before the move north, Wenham, his wife Kate Agnew and their two children were long-time residents of Sydney’s eastern suburbs.

The Australian actor, who rose to fame playing Diver Dan in the ABC drama SeaChange, sold his four-bedroom apartment in Potts Point for $5.755million in February.

His new home in Brisbane boasts a classic ‘Queenslander’ style, as well as lush gardens and plenty of outdoor space for entertaining.

The ornate high ceilings and open-plan design give the interiors a light and airy feel.

The Pirates of the Caribbean star, 56, spent $2.75million on a four-bedroom, four-bathroom home at the start of the Covid pandemic in 2020, but the sale wasn't reported until this week. (Pictured: Wenham and his wife Kate Agnew in Sydney on November 11, 2016)

The Pirates of the Caribbean star, 56, spent $2.75million on a four-bedroom, four-bathroom home at the start of the Covid pandemic in 2020, but the sale wasn’t reported until this week. (Pictured: Wenham and his wife Kate Agnew in Sydney on November 11, 2016)

The spacious kitchen has a breakfast bar and wine and beverage closet.

Other features include a closed-in verandah, a large entertainment room and lavishly scaled dining area.

There is also a third-storey loft accessible via a spiral staircase.

Located just 2km from the CBD, the three-storey property last went under the hammer in 2017 for $1.726million, reports The Courier-Mail. (Pictured: the closed-in verandah)

Located just 2km from the CBD, the three-storey property last went under the hammer in 2017 for $1.726million, reports The Courier-Mail. (Pictured: the closed-in verandah)

The ornate high ceilings and open-plan design give the interiors a light and airy feel

The ornate high ceilings and open-plan design give the interiors a light and airy feel

The spacious kitchen has a breakfast bar and wine and beverage closet

The spacious kitchen has a breakfast bar and wine and beverage closet

Wenham became a sex symbol in the late ’90s thanks to his role as Daniel Della Bosca, better known as Diver Dan, in TV show SeaChange.

Despite leaving the show early in its run, Diver Dan remains a fan favourite.

He owned a boat shed and café on the show, and was the love interest of protagonist Laura Gibson, played by Sigrid Thornton

Wenham became a sex symbol in the late '90s thanks to his role as Daniel Della Bosca, better known as Diver Dan, in TV show SeaChange. (Pictured here with co-star Sigrid Thornton)

Wenham became a sex symbol in the late ’90s thanks to his role as Daniel Della Bosca, better known as Diver Dan, in TV show SeaChange. (Pictured here with co-star Sigrid Thornton)

After leaving the series, Wenham was cast in Baz Luhrmann’s 2001 blockbuster musical Moulin Rogue!

He made his debut in the Lord of the Rings franchise as Faramir in 2002, before starring in Van Helsing in 2004 and action epic 300 in 2006.

He starred opposite Nicole Kidman in the critically acclaimed 2016 drama Lion.

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Sports

Brandon Smith reveals Craig Bellamy punishment, ref spray, team news, updates

SYDNEY, AUSTRALIA - JULY 07: Brandon Smith of the Storm warms up during the round 17 NRL match between the Cronulla Sharks and the Melbourne Storm at PointsBet Stadium, on July 07, 2022, in Sydney, Australia. (Photo by Cameron Spencer/Getty Images)

Brandon Smith has missed out on more than just game time after receiving a three-week suspension, with the Storm star revealing he was banned from training with his teammates.

Smith had been handed the suspension after he called Adam Gee a “cheating bastard” during the Storm’s shock loss to the Sharks last month.

The 26-year-old was immediately sent for 10 minutes in the bin, and later pled guilty to the charge of contrary conduct.

But the punishment from the NRL wasn’t the end of it for the New Zealand Test rake, who has had to train away from the main squad since.

The unusual banishment has been seen Smith train with the fitness coach for the entirety of the ban.

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Smith’s ref slur caught on mic | 00:36

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‘PREFER FOR LESS MONEY’: Sheens backs Brooks to stay at Tigers on reduced deal

“No, that’s not the norm, that’s quite special,” Smith said on Tuesday.

“I think it was just a sort of just getting punished for not putting the team first.

“It’s been pretty hard and a bit of a grind.

“Waking up early and training by yourself, it gets pretty boring.

“But just being able to hang out with the boys now makes me a lot more grateful for being in a team sport.”

Smith believes that the club were trying to send him a message by banning him from training for those three weeks.

After being isolated from the squad for so long, the Kiwi international reflected on what the time away from the main squad had taught him.

“Just making you feel guilty for your actions by taking away what you love most,” he said.

“And for me with footy that’s playing with my mates and my friends and enjoying it.

“They kind of took that away from me and it sucks.

“I got to hang out with the fitness coach and he’s not that much fun either.”

Smith is available to return for Melbourne in their crucial Friday night clash with the Gold Coast Titans at AAMI Park.

Melbourne beat the Warriors in Auckland last Friday, and ended a four-match winless streak to boast.

Cheese sin-binned, held back from fans! | 00:51

The Storm are sitting inside the top four after the win, but are equal on points with both the Broncos and sixth-placed Eels.

“It’s been a weird old year for all of us, we’ve got heaps of injuries.

“It’s no surprise it’s going to be a little bit of a hard one this year.

“We’ve lost Welchy (Christian Welch), Reimis (Smith), George (Jennings) and Paps (Ryan Papenhuyzen) for the season and that’s four of our best 13.

“We’ve got numerous other injuries coming through and they are excuses, but I’m willing to make those excuses now as we’ve had like 16 pretty bad injuries this year and we’ve only got like a 26-man squad.

“We’re still fourth, which is the crazy thing that we’ve been able to keep ourselves in the fight.”

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Australia

Interest rates: RBA raises cash rate by 50 basis points to 1.85 per cent

Interest rates: RBA raises cash rate by 50 basis points to 1.85 per cent

For the fourth consecutive month the Reserve Bank of Australia (RBA) has hiked interest rates as inflation runs rampant.

At 2.30pm during the RBA’s monthly meeting, it increased Australia’s interest rate by 50 basis points, or by 0.5 per cent.

The decision brought the cash rate from 1.35 per cent to 1.85 per cent, largely in line with economist’s predictions.

This marks the first time the RBA has lifted the rates for four months in a row since the introduction of the two to three per cent inflation target in 1990.

This follows last week’s increase in annual inflation, which hit 6.1 per cent, which was its highest level in 21 years since 2001.

Tuesday’s rate rise means those paying off the average home loan of $500,000 will need to cough up an extra $140 a month.

And the August hike isn’t expected to be the last, with economists forecasting that interest rates could peak up to two per cent by the end of the year.

As soon as news of the interest rate rise broke, Treasurer Jim Chalmers weighed in and acknowledged it was a tough time for Australian borrowers, saying the announcement would “sting”.

“It’s another difficult day for Australian homeowners with a mortgage,” he said.

“The independent ReserveBank has just announced its decision to increase interest rates by another 0.5 per cent, bringing the cash rate to 1.85 per cent.

“Australians knew this was coming, but it won’t make it any easier for them to handle.

This cycle of interest rate rises began before the election in response to inflationary pressures that began accelerating at the beginning of this year.

“Average homeowners with a $330,000 outstanding balance will have to find about $90 a month more for repayments as a consequence of this decision today, on top of around $220 extra in repayments since early May.

“For Australians with a $500,000 mortgage, it’s about an extra $140 a month, in addition to the extra $335 they’ve had to find since early May.

“As I said, Mr Speaker, this decision doesn’t come as a surprise. It’s not a shock to anybody, but it will still sting.

“Families will now have to make more hard decisions about how to balance the household budget in the face of other pressures like higher grocery prices and higher power prices and the costs of other essentials.”

‘Misleading’: Calls for bank boss to resign

Ahead of the interest rate rise, there were growing calls for the RBA’s board and its governor, Philip Lowe, to resign after a series of missteps.

Chief among them was the promise that interest rates wouldn’t rise until 2024 which one top economist said was “misleading” for borrowers.

Critics also pointed out that the rapid rate rises could inadvertently lead to a recession while at the same time inflation is running rampant.

Warren Hogan, chief economist at both ANZ and Credit Suisse, told The Daily Telegraph that the RBA was guilty of some “pretty bad errors” in recent months.

The RBA lowered the cash rate to 0.1 per cent at the end of 2020 amid the Covid-19 pandemic – the lowest it had ever been – and throughout the pandemic said they didn’t plan on raising the cash rates until 2024.

When it lifted the cash rate for the first time in May and then every month since, Mr Hogan said it was “misleading people, basically”.

He also said Australia’s central bank had taken on risky strategies including spending lots on insurance and sinking funds into a bonds program which had not paid off.

Mr Hogan, who was also the former principal adviser to federal treasury, said: “It’s unforgivable. I think they should resign – the whole board.”

Mr Lowe “should have the character to stand down,” Mr Hogan added.

RELATED: Find out how much the rate rise will cost you

Mr Lowe said the cash rate would remain at its record low of 0.1 per cent until at least 2024, but the rapid rise in inflation this year – caused in part by Russia’s war in Ukraine and supply chain issues on home soil – prompted the monthly hikes .

It comes as Australia’s cost of living crisis is worsening, making borrowers even more cash-strapped than usual.

In the last quarter, transport costs rose 13.1 per cent as the price of fuel rose to record levels for the fourth quarter in a row.

Meanwhile, grocery shopping is also causing hip pocket pain, with Australians outraged to find lettuce heads selling for $10 a pop and capsicums marked at $15 for a kilo.

Interest rates in Australia reached an all time high of 17.5 per cent in January 1990. Since then, they have averaged 3.93 per cent.

Before this year, the last time the RBA hiked up rates was in 2010. It has only been going down ever since.

As a result, more than one million home borrowers have never experienced an increase in mortgage rates, because they bought a home after 2010.

The official cash rate has been at a record low of 0.1 per cent since November 2020 in response to the Covid-19 pandemic until May 2022.

– with NCA NewsWire

Read related topics:Reserve Bank

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Business

Travel chaos: Airline experts warn delays and cancellations will continue for months

Travel chaos: Airline experts warn delays and cancellations will continue for months

An aviation expert has warned travel chaos “pain” could continue into next year as the industry struggles to meet soaring demand after stripping services during the pandemic.

Flight Center managing director Graham Turner cautioned travelers to be wary of delays and cancellations until at least the end of the year as airlines contend with inexperienced and ill staff.

“Bear in mind the aviation industry, and you know travel industry generally, has two-and-a-half years when we had to absolutely cut to the bone everything and now building that back up is quite difficult,” he said on Channel 9’s Today show.

Mr Turner admitted the aviation industry was experiencing a “tough period” and asked travelers to exercise “a bit of patience”.

The travel boss noted the chaos was more manageable for domestic travelers despite the mass cancellations and delays.

On Monday, 40 flights between Sydney and Melbourne were canceled and hundreds of people were left sitting on plans after a computer outage grounded Qantas plans.

“Domestically, our experience is although there are delays, a lot of changes, quite a few cancellations, generally most people are getting away and getting to their destination,” he said.

“It is a bit harder internationally because if you get international cancellations it can be quite hard to get seats.”

Mr Turner said there would continue to be “pain” for travelers for at least the next couple of months as the industry grapples with staffing issues and the effects of the ongoing pandemic.

Happily, he predicts, traveling around Australia will be much easier by the end of the year when “all of this really settles down”.

“Domestically, it will improve and we certainly predict by October/November, assuming the Omicron does settle down, it will be much better off,” he said.

While the news will surely be welcomed by local travellers, those looking to travel internationally have no reassuring timeline for when the dust will settle.

The bleak news comes as Australia’s airports gain international attention for all the wrong reasons.

Sydney’s Kingsford Smith International Airport was recently ranked one of the 10 worst airports in the world for flight delays.

Meanwhile, social media has been flooded with angry travelers reporting lost baggage, delayed or canceled flights and staggering queues.

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Sports

ARLC chairman Peter V’landys, suburban stadium upgrades NRL, Penrith Stadium, Shark Park, NSW Government, Dominic Perrottet, news, Queensland grand final

ARLC chairman Peter V'landys, suburban stadium upgrades NRL, Penrith Stadium, Shark Park, NSW Government, Dominic Perrottet, news, Queensland grand final

Sydney is at risk of losing the NRL grand final to its northern rivals unless the NSW Government delivers on its promise to upgrade suburban stadiums.

ARLC chairman Peter V’landys had a meeting with Premier Dominic Perrottet on Monday night, hoping to guarantee the deal to revamp four stadiums would be honored.

The agreement would see Brookvale Oval, Leichhardt Oval, Penrith Stadium and Shark Park receive significant upgrades — and if delivered, the grand finale would remain in Sydney for the next 20 years until 2042.

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But, according to The Daily Telegraph, V’landys is fuming as the initial deal struck in May to spend $800 million on stadium improvements is now in doubt.

“We are in delicate negotiations with the NSW government,” V’landys said.

“All options will be on the table if these negotiations fail.”

Last year, the Queensland government allowed the competition to continue, relocating all teams into the ‘Sunshine State’ due to Covid-19.

As a result, the end-of-year spectacle was played at Suncorp Stadium and now V’landys has left the door open for Queensland to host the grand final again if no deal is confirmed with the NSW government.

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Meanwhile, the only stadium given confirmation of a $300 million upgrade has been Penrith’s — in the electorate of sports minister Stuart Ayres.

Mr Ayres told 2GB on Tuesday that the Premier’s negotiations are “ongoing” with the NRL, but explained there were “limitations” to the budget.

“We have been really clear with the NRL about the limitations that exist on our budget,” he said.

“We have invested well in excess of $1.5 billion. Part of that is to say that we would like to have a long-term commitment from the NRL for the grand finale.

“I think there comes a point where you have got to say we have invested enough in that sporting infrastructure and when we have got the capacity to invest in more sporting infrastructure in the future there is no reason why we won’t do that.”

During the Covid pandemic, the $800 million upgrade of Accor Stadium was scrapped and the NRL moved to shift those funds to suburban grounds — and as a result the grand finale would remain in Sydney.

But now, that money which was said to be allocated towards Brookvale, Leichhardt and Sharks Park is unlikely to be put towards upgrades.

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The Queensland government is now readying a bid to claim to NRL grand final for years to come.

2GB’S Ben Fordham questioned Mr Ayres surrounding the Panthers upgrade being approved, while other grounds are looking unlikely to receive any funding.

“You’re the Sports Minister, your home ground is Penrith, you’re a Panthers fan and for all I know you’re probably the number one ticket holder,” Fordham said.

“So they got the $300 million, so what about Brookvale, Shark Park, Leichhardt Oval… I would be seriously surprised if you don’t know the answer I am posing to you.

“Why did your home ground get the money at your home ground and the others didn’t?

“Why don’t we just tell the listeners now, those other grounds aren’t getting their redevelopments?”

“Ben, there’s a long-term strategy,” Ayres said.

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“We made decisions in what was the best interests of the public.

“We’ve had a long-term stadia strategy that we’ve been delivering since 2015. We’ve rebuilt Parramatta Stadium, we’re just about to open the new Sydney Football stadium.

“We’re committed to a stadium in Penrith, it reflects our three city strategy.

“We’ve invested well in excess of $1.5b dollars, part of that is, we’d like to have a long-term commitment from the NRL for the grand finale.

“We’ve just had Covid, we’ve had substantial flood impacts that have put more pressure on the budget.”

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Categories
Business

Rental properties Australia: How much rent has increased in your suburb

Rental properties Australia: How much rent has increased in your suburb

Renters are suffering from “ridiculous” rent hikes due to a chronic housing shortage, as city-dwellers flood regional markets and landlords flip rental properties to short-term housing to accommodate an influx of tourists.

Suburb-level analysis collected by PropTrack exclusively for The Oz revealed Killcare Heights on the central coast of NSW experienced the greatest rent increase over the past 12 months at 72.6 per cent, followed by Rainbow Beach on Queensland’s south coast (72.5 per cent) and Stahan in western Tasmania (68.4 per cent).

Killcare Ray White agent Sue Rallis said some local properties have risen from $700 to $1500 a week since the pandemic began, due to Sydneysiders making the most of a Covid-induced at-home lifestyle and moving into regional areas.

“People are happy to come out of the cities and move regionally, which has pushed up the rent over the last year or two,” she said.

“It’s been hard for the locals. They have been living in an area that a lot of people didn’t want to live in, and have been paying quite low rents there over the years. Now it’s very difficult for the locals to afford some of the rents.”

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Median weekly rental prices in June were up 7 per cent on the same month last year, marking the strongest annual rental growth recorded since before 2015. Rising prices have been felt the most regionally, where they increased 11.4 per cent year-on-year to June, compared to 4.4 per cent in the capital cities.

This came as the total supply of rentals dropped 27.7 per cent below its decade average.

PropTrack director of economic research Cameron Kusher said a devastating lack of supply has driven prices upwards, as fewer owners put their second properties up for rent.

“A lot of people who have bought quote unquote ‘investment properties’ aren’t necessarily buying them to make them available for rent, they’re buying them as second homes,” he said. “You’ve also got the added pressure now that domestic and international travel is back that the supply of rental stock is spinning out because people are putting their properties into short term rental accommodation, rather than long term.”

Mr Kusher said rental growth in inner-city areas has been “pretty weak” over the past two years as tenants stayed put, but has suddenly increased over the past six months after long term lockdowns ended.

“We have seen again in Sydney and Melbourne in those inner and middle ring markets in the apartment markets in particular, it has been very hard to rent out a property over the last few years,” he said.

“So, a lot of people sold out of their investment properties, and we haven’t seen a lot of developers building new one and two bedroom apartments. Therefore, we haven’t had that increase in supply we needed to keep up with demand.”

When renewing her lease last month, Leane Van Essen’s landlord requested the rent go from $450 to $550 a week for a one-bedroom apartment in North Sydney.

Unable to afford the “ridiculous” 22 per cent increase, the 29-year-old was given 60 days to find a new apartment.

“I had to find a new place super quickly, but then I got Covid and couldn’t go look at apartments, which was incredibly stressful,” she said. “They kept calling me, trying to rush me out, even though I still had my 60 days.”

Eventually, Ms Van Essen was forced to find a stranger online to move in with, settling in a two-bedroom apartment in Sydney’s inner-city suburb of Mascot for $750 a week.

Similarly, Ellen Mezger, 25, was asked to bump up her rent for a two-bedder in Sydney’s Waterloo from $620 to $800 a week when her lease expired this month.

She said “a lot of sacrifices”, including giving up her gym membership, would have to be made if the rent increased that much.

Kusher said it would be a while before rent costs dropped again as landlords feel the increasing burden of skyrocketing interest rates, and pass them onto their tenants.

“Landlords will be trying to pass on as much of those increased costs as they can to their renters, so that’s something that renters are going to be facing,” he said.

“Obviously, for renters, there’s quite a lot of incentives to try and buy your first home. The government’s got a Shared Equity scheme, they’ve got a low deposit scheme in NSW from January next year, you’re going to be given the option to pay land tax as opposed to stamp duty. At some point, people will look at it and go, you know, I can be slugged with higher rates every six months, or maybe it’s time to take up one or two of these schemes and buy.”

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