Australia’s Welfare Boost! Millions to Receive Increased Pensions and Benefits to Ease Cost of Living Pressure – Sydney Auction Clearance Rate at 69%

Week’s Key Focus

Australian Government to Increase Pensions and Welfare Payments from March

Starting from March 2025, the Australian government will implement another round of pension and welfare payment increases, aiming to alleviate financial pressure caused by inflation. This adjustment will benefit a wide range of recipients, including age pensioners, carers, rental assistance beneficiaries, ABSTUDY scholarship holders, JobSeeker recipients, disability support pensioners, and single-parent families.

Under the new policy:

Single age pensioners will receive an additional $28.40 every two weeks, while couples will see a combined increase of nearly $57 per fortnight.
Single-parent families will have their benefits raised to $1,026.30 per fortnight, while JobSeeker payments will increase by $15.30 per fortnight.
Federal Rent Assistance will rise by 10%, providing stronger financial support for low-income households struggling with rising housing costs.
These adjustments will be indexed to either the Consumer Price Index (CPI) or the Wage Price Index (WPI), ensuring that payments keep pace with the rising cost of living.

Policy Adjustments for Job Seekers and Carers

In addition to financial increases, policy changes for JobSeeker recipients and carer payments will provide greater flexibility.

JobSeekers will no longer face an immediate suspension of benefits if they fail to meet compliance requirements for the first time.
Those who have worked 30 hours every two weeks for two consecutive months will be exempt from penalties even if they miss scheduled appointments with employment service providers.
Carers will benefit from a more flexible working-hour system, shifting from a 25-hour weekly cap to 100 hours over four weeks, allowing them to balance work and caregiving responsibilities without losing their benefits.

Government’s Long-Term Strategy

Social Services Minister Amanda Rishworth stated that since the Albanese government took office, federal rent assistance has increased by nearly 45%, with continuous adjustments to support low-income and vulnerable groups. She emphasized that these changes are designed to help millions of Australians maintain financial stability and keep pace with the rising cost of living.

These welfare increases come at a crucial time, as many Australians continue to struggle with inflation and rising expenses. The next round of adjustments is expected in September 2025, in line with the government’s biannual indexation policy.

THE GABLES

Auction Results Last Week

Sydney: 1,291 properties went to auction, with 828 results reported and 571 properties sold, achieving a clearance rate of 69%. The total auction value reached $672,091,497 AUD, with a median house price of $1,591,944 AUD.
Melbourne: 1,362 properties went to auction, with 1,033 results reported and 664 properties sold, achieving a clearance rate of 64%. The total auction value reached $500,510,081 AUD, with a median house price of $925,000 AUD.