What is the main topic discussed in this episode?
It's the Real Estate Podcast across every state, city and town of Australia.
And welcome to another episode of the Real Estate Podcast available on iHeartRadio every morning and also Spotify and Apple and wherever you get your podcasts from. well welcome to a thursday rubbish day at my place it is the 11th day of august for 2022 and coming up we're going to be talking to a couple of real estate directors one is representing geelong
and the other is in Double Bay in Sydney. And what we're going to do is check in and take the pulse, the temperature check, if you like, of those two areas for comments about their local markets. I see yesterday the Commonwealth Bank has announced a 9% increase in profits despite a fall in its margins. CBA says most of its customers are able to cope with rising interest rates. I guess the
The problematic piece that I read is the 37% of people that are less than a month ahead of their repayments. And the bank also noted on the flip side that there was more than a third of its mortgage customers who were at least two years ahead of their repayments with around half at least three months ahead of their repayments.
And the CBA Chief Executive Matt Cummin told the ABC yesterday that he expects an economic contraction but no recession and expected the household spending downturn will be enough to shrink the economy later this year. And those increases, he says, in the cash rates are likely to have and continue to have quite a pronounced effect on on the economy, which is kind of code for watch the space.
If you're celebrating your birthday today on this day of the 11th of August, have a great Thursday. You share it with local boy Chris Hemsworth. He is turning 38 years young today. Hulk Hogan is turning 68. And it was on this day, unfortunately, that Robin Williams passed away back in 2014.
Grab your coffee and switch on your real estate breakfast every weekday morning from 6.30. It's the main centre forecast with propertybuyer.com.au.
All right, let's check on your weather around Australia on this Thursday morning. Firstly in Sydney, partly cloudy, but it's going to be mainly dry today. 19 degrees is your forecast high. Melbourne expecting a few pieces of rain. 15 is your forecast top. Brisbane, another sunshine, blue sky day. 22 degrees is your forecast high.
And in Perth, expecting a little bit of cloud around, but no rain and your high of 19 degrees.
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