Just look at this graph ! The Morrison Government first allowed people to withdraw up to $20,000 from their superannuation from April last year and that program ran for approximately nine-months. In that time, around 3.5 million people withdrew a cumulative $36 billion, with around 500,000 pretty much emptying their super accounts. According to figures from analytics firm AlphaBeta, in the two weeks following a superannuation withdrawal, 64 % of additional spending was on non-essentials, including clothing, furniture, takeaways, alcohol and……gambling
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Well here we are Victoria, in another lockdown, and this makes me wonder how things will pan out for the property market. Investing in real estate is tricky even at the best of times.  In their forecast , CBA has released a scenario of what the most likely scenario is in their forecasted upside. It is forecasting an enormous boom in asset prices: house price growth of 8 per cent this year and stock price growth of 12 per cent.
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To say I was surprised by this data is an understatement. Craig James, Chief Economist for CBA/Commsec put together a comprehensive “State of the States report”. Thank you to the team at Commsec. How are Australia’s states and territories performing? Each quarter, CommSec attempts to find out by analysing 8 key indicators: economic growth; retail spending; equipment investment; unemployment; construction work done; population growth; housing finance and dwelling commencements. The data is then compared to the previous 10 year averages
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