Property prices, business confidence, top Aussie banks: This week’s banking news

  • Where property prices are at now 
  • 80% of Aussie businesses confident they’ll survive the pandemic, says Amex 
  • Heritage Bank tops the Aussies in the 2020 Forbes World’s Best Banks 
  • Looking for solar panels? You can now get them at IKEA 
  • 86 400, Up and BOQ offer highest savings rates on Mozo database  
  • Why you should start racking up credit card rewards point now 

All in this week’s banking recap.

Family in front of their house

Property price rise: what the market looks like now 

According to the latest numbers from the Australian Bureau of Statistics (ABS), Aussie property value jumped up by 1.6% over the March quarter. Not only that, but in the 12 months leading up to March, the value of homes rose by 7.4%. 

Among the major cities, Sydney and Melbourne experience the highest growth rates, as property value jumped up by 10% and 10.4%, respectively. However, in Darwin and Perth, property prices have decreased over the past year. 

“Our property market is showing resilience and there are some positive signs,” property expert from Metropole Property Strategists, Michael Yardney said in his latest update. 

“After a market fall in March and April, the number of transactions occurring and properties listed for sale is starting to pick up. It’s likely that it’s going to be less of a bad turn ahead than people expected. There are greenshoots as we like to say.”

Read full article: Property prices up 7.4% before COVID-19, so where to now? and find out what this means for first home buyers. 

Amex reveals 80% of small businesses confident they can survive COVID-19 

Early this week, popular credit card provider American Express revealed that a massive 80% of Aussie small businesses feel they can survive the pandemic. 

In it’s Small Business Recovery Report, Amex surveyed 750 consumers and 500 small businesses to find out how they are feeling about what’s to come post-COVID. 

While a large chunk felt they could survive, the report also showed that 52% of respondents were worried that sales wouldn’t be strong enough to endure the long term. Plus, 52% of consumers are worried about the health risks of shopping in-store. 

Read full article: Amex: 80% of small businesses confident about surviving COVID-19 but unsure for how long to check out what Australian Small Business and Family Enterprise Ombudsman, Kate Carnell said about the numbers. 

Heritage Bank proves its worth on the world stage 

Heritage Bank shone brightly in American business magazine Forbes’ 2020 World’s Best Banks list. 

Out of 20 Aussies banks named on the list, mutual bank Heritage came out on top as Australia’s best, as voted by customers. 

Notably, customer-owned banks stole the show as they took up all four of the top spots. In addition to Heritage Bank, this included Bank Australia, Newcastle Permanent and IMB Bank. 

Meanwhile, the big four didn’t make the top 10,…

Read MoreProperty prices, business confidence, top Aussie banks: This week’s banking news

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