Mon, 13th Jan 2025

In this episode of the Weekly Finance News Wrap, host Paige Estritori reports on key banking, finance, and home affordability issues. Bendigo and Adelaide Banks new fee for cash withdrawals has sparked criticism, despite reduction of Bank@Post fees and a transition towards digital banking. This is especially controversial in light of the ongoing preference for traditional in-person banking among a notable fraction of customers. The Australian housing market continues to struggle with affordability, with households spending 47% of their income on mortgages, a peak not seen since 2008. Interest rate decisions from the Reserve Bank will be critical to easing the situation, as we observe consumers inclining towards lower-priced properties. The future trajectory is uncertain as experts give mixed forecasts. Stay connected with Financial Services Online for comprehensive coverage on the Australian finance industry.