Quarterly Economic Update

Quarterly Economic Update: July – September 2019 Interest rates The RBA followed up its June interest rate cut (the first in nearly three years) with a further 0.25% cut in July, taking the cash rate down to a record low of 1.0% pa. While good for existing borrowers, this move will make it even harder for anyone relying on interest income to receive a reasonable rate of return on their savings. Property Homeowners rejoice, first home buyers and upgraders despair – property prices staged a recovery in the September quarter, rising 3.5% in Sydney and 3.4% in Melbourne. More modest gains were seen in Brisbane, Hobart and Canberra, while Adelaide, Perth and Darwin fell slightly. No one is predic

Staying (financially) Well as the Years Go By

Our Financial Priorities Tend to Change as we Move Through Life... Over the past five years, Australians have had greater disposable income and are spending more, while consumer confidence is growing1. And in line with these market metrics, AMP’s Financial Wellness Index has shown a marked improvement, with more Australian employees feeling financially secure in 2018 compared with previous surveys. But AMP’s 2018 Financial Wellness Index shows there are still 2.44 million employed Australians feeling moderately or severely financially stressed. Levels of stress usually depend on where you live, what industry you work in, what family situation you’re in and—not surprisingly—how much you earn.

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