The profitability of Australia’s major banks is under threat thanks to low interest rates, intense competition and open banking, according to a report from ratings agency Moody’s.
There are car-sharing apps (such as Popcar or Car Next Door) and there are house-sharing apps like Airbnb, but for the first time in Australia, two of these share-economy platforms are teaming up to trial a new affordable way of living.
Near-record numbers of house hunters are jumping back into the market and are determined to buy property, a clear sign monetary policy stimulus is working, according to Commonwealth Bank.
Australia’s most-talked-about property market, Sydney, looks to be heating up at the moment, with a 5% gain in median home values over the three months to 31 October 2019.