Sat, 9th Mar 2024

In the latest edition of the Weekly Finance News Wrap, Paige Estritori reports on the mixed growth of the Australian housing market, with cities like Perth, Adelaide, and Brisbane leading while Sydney and Melbourne lag behind, according to CoreLogic data. However, with falling new housing loan commitments and the looming fear of a market slowdown, a plateau in property prices might not be far off. Meanwhile, a Westpac survey reveals a resilient 44% of Australians still aim to buy property within five years, despite these economic challenges. Regarding financial advising, the discrepancy in perceived costs is discouraging many from seeking professional advice, although 1.3 million Australians are open to digital alternatives. Lastly, Bankwest is shifting from brick-and-mortar to digital platforms pointing to the future of banking. Despite concerns over this affecting vulnerable groups, the bank is committed to ensuring a smooth transition with enhanced online banking experiences.n