Episode Details

In this episode of "Weekly Finance News Wrap", Paige Estritori discusses the robust growth of Australia's housing market amidst the pandemic, with a significant 32.5% increase in the national home value index since 2020. Despite high growth in cities like Perth, Adelaide, and Brisbane, the Australian Bureau of Statistics reports a dip in new housing loan commitments, hinting at a possible slowdown. Mortgage rates in Australia rank high globally, and interest payments consume an unprecedented 19.3% of income. In response, the Reserve Bank of Australia may ease rates. Additionally, ex-SunSuper executive, David Hartley scrutinizes superannuation policies for inflating housing prices, suggesting a capital gains tax at retirement to enhance affordability. Concluding the episode, Paige reminds listeners to check Financial Services Online for their finance needs.n