Fri, 8th Mar 2024

This episode of Weekly Finance News Wrap delves into the current Australian financial landscape. Topics include a recent 3.9% decline in home loan commitments nationwide, including a sharper drop in owner-occupier and investment property loans, hinting at rising financial pressures from increased interest rates. Despite this, a recent survey reveals 44% of Australians aim to purchase property in the next five years. The episode also covers issues within the financial advice sector where cost confusion hinders prospective clients. However, the potential of digital platforms and tax-deductible advice fees could attract more Australians to seek financial assistance. The show also discusses Bankwest's transition to digital, leaving behind its physical presence in Western Australia, and the ongoing debate over revisions to negative gearing amidst a national housing crunch. Visit financialservicesonline.com.au for more financial insights.