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In the late 2000s, housing prices in Australia, relative to average incomes, were among the highest in the world. As at 2011, house prices were on average six times average household income, compared to four times in 1990. [15] This prompted speculation that the country was experiencing a real estate bubble, like many other countries. [16]
Australia, officially the Commonwealth of Australia, [17] is a country comprising the mainland of the Australian continent, the island of Tasmania and numerous smaller islands. [18] Australia has a total area of 7,688,287 km 2 (2,968,464 sq mi), making it the sixth-largest country in the world and the largest in Oceania .
Worldometer, [1] formerly Worldometers, is a reference website that provides counters and real-time statistics for diverse topics. It is owned and operated by a data company Dadax which generates revenue through online advertising.
Before the switch to standard time zones, each local city or town was free to determine its local time, called local mean time. Now, Western Australia uses Western Standard Time; South Australia and the Northern Territory use Central Standard Time; while New South Wales, Queensland, Tasmania, Victoria, Jervis Bay Territory, and the Australian ...
Australia is the only First World country on the Australia-New Guinea continent, although the economy of Australia is by far the largest and most dominant economy in the region and one of the largest in the world. Australia's per-capita GDP is higher than that of the United Kingdom, Canada, Germany, and France in terms of purchasing power ...
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The new instant payment platform for real-time low-value payments was in response to the Reserve Bank of Australia's Payment System Board’s Conclusions to the Strategic Review of the Innovation in Payments System publication. [5] The NPP was announced in July 2013 by the Australian Payments Clearing Association. [6]
Australia's economy is strongly intertwined with the countries of East and Southeast Asia, also known as ASEAN Plus Three (APT), accounting for about 64% of exports in 2016. [46] China in particular is Australia's main export and import partner by a wide margin. [47] Australia is a member of the APEC, G20, OECD and WTO.