1 00:00:03,800 --> 00:00:07,040 Speaker 1: It's Monday, the two of December twenty twenty four. Welcome 2 00:00:07,080 --> 00:00:09,320 Speaker 1: to the Fast five Business News by Fear and Greed, 3 00:00:09,320 --> 00:00:11,119 Speaker 1: where we give you the top five business stories you 4 00:00:11,200 --> 00:00:13,640 Speaker 1: need to know in just five minutes. I'm Michael Thompson 5 00:00:13,640 --> 00:00:15,080 Speaker 1: and good morning Sean Aylmer. 6 00:00:15,200 --> 00:00:16,640 Speaker 2: Good morning, Michael Sewn. 7 00:00:16,720 --> 00:00:19,320 Speaker 1: Five stories, five minutes. Let's go. Story number one's a 8 00:00:19,320 --> 00:00:22,439 Speaker 1: big one. The house price boom is over, with prices 9 00:00:22,480 --> 00:00:25,479 Speaker 1: across the country flat for the month of November. It 10 00:00:25,600 --> 00:00:29,960 Speaker 1: is the weakest Australia wide result SHAWN since January last. 11 00:00:29,800 --> 00:00:32,279 Speaker 2: Year, and November is all important because it is the 12 00:00:32,440 --> 00:00:35,880 Speaker 2: end of the spring selling season peak season. Core Logic 13 00:00:35,920 --> 00:00:38,480 Speaker 2: figures show prices were actually up zero point one percent 14 00:00:38,479 --> 00:00:40,800 Speaker 2: across the country twenty two months of rises, but that's 15 00:00:40,840 --> 00:00:44,440 Speaker 2: probably it. The downturn is gathering speed. A big reason 16 00:00:44,479 --> 00:00:48,320 Speaker 2: why because capital city listings are much higher sixteen percent 17 00:00:48,360 --> 00:00:51,360 Speaker 2: more than three months ago. Melbourne was down last month, 18 00:00:51,440 --> 00:00:53,840 Speaker 2: it's down for the year. Sydney was down last month. 19 00:00:53,840 --> 00:00:56,880 Speaker 2: It's actually up for the year, but it has certainly peaked. 20 00:00:57,560 --> 00:00:59,760 Speaker 2: The other capital city to go backwards last month was 21 00:01:00,000 --> 00:01:02,720 Speaker 2: sobart canber has gone back for the twelve months. The 22 00:01:02,720 --> 00:01:05,320 Speaker 2: best of the best Perth up more than one percent 23 00:01:05,400 --> 00:01:09,480 Speaker 2: last month twenty one percent for the year. Interestingly, regions 24 00:01:09,520 --> 00:01:12,280 Speaker 2: have tended to be stronger, with the Regional index up 25 00:01:12,319 --> 00:01:13,640 Speaker 2: more than one percent last month. 26 00:01:13,920 --> 00:01:15,800 Speaker 1: So broadly show on the housing market looks to be 27 00:01:15,840 --> 00:01:18,880 Speaker 1: heading into twenty twenty five not looking so good, at 28 00:01:18,920 --> 00:01:21,280 Speaker 1: least relative to the performance of so the last couple 29 00:01:21,319 --> 00:01:22,000 Speaker 1: of years. 30 00:01:22,080 --> 00:01:24,639 Speaker 2: And that was demonstrated by the weekend's auctions the last 31 00:01:24,680 --> 00:01:27,880 Speaker 2: of the spring selling season, with the national preliminary clearance 32 00:01:28,000 --> 00:01:30,840 Speaker 2: rate falling to sixty three point four percent that is 33 00:01:30,880 --> 00:01:32,960 Speaker 2: the lowest of the year. Sydney came in at sixty 34 00:01:32,959 --> 00:01:35,440 Speaker 2: five percent, low for that city, Melbourne sixty four percent, 35 00:01:36,160 --> 00:01:40,360 Speaker 2: Brisbane Adelaide act all down on their regular numbers. What's 36 00:01:40,360 --> 00:01:42,640 Speaker 2: happening at the moment. We have more listings, we have 37 00:01:42,760 --> 00:01:44,959 Speaker 2: core inflation holding out. The chance of a rate cut 38 00:01:45,000 --> 00:01:47,800 Speaker 2: anytime the next six month seems slim. In fact, A 39 00:01:47,840 --> 00:01:51,200 Speaker 2: and zt amp and Bank of Queensland joined Westpac National 40 00:01:51,200 --> 00:01:53,320 Speaker 2: Australia Bank on Friday saying that the earliest will be 41 00:01:53,360 --> 00:01:55,560 Speaker 2: a rate cut is may you put all that together? 42 00:01:56,520 --> 00:01:57,160 Speaker 1: Not a lot of. 43 00:01:57,080 --> 00:01:59,160 Speaker 2: Demand, not a lot of heat at least in the 44 00:01:59,240 --> 00:02:00,200 Speaker 2: housing market. 45 00:02:00,360 --> 00:02:04,240 Speaker 1: Sean Story number two, Prime Minister Anthony Alberizi has indicated 46 00:02:04,280 --> 00:02:07,160 Speaker 1: the next federal election will be later rather than sooner, 47 00:02:07,240 --> 00:02:09,240 Speaker 1: suggesting an April or May poll. 48 00:02:09,600 --> 00:02:11,920 Speaker 2: The Prime Minister said Australians would have a bit of 49 00:02:11,960 --> 00:02:14,240 Speaker 2: time before the polls. An election must be held by 50 00:02:14,240 --> 00:02:17,400 Speaker 2: seventeen May at the moment. At the moment, Parliament is 51 00:02:17,440 --> 00:02:20,320 Speaker 2: scheduled for two weeks in February, the budgets due to 52 00:02:20,360 --> 00:02:22,959 Speaker 2: be delivered on the twenty fifth of March. Yesterday, mister 53 00:02:23,000 --> 00:02:26,080 Speaker 2: Albanezi told the ABCAS Insiders program that he intended to 54 00:02:26,120 --> 00:02:29,079 Speaker 2: go ahead with both those things. He was also asked 55 00:02:29,080 --> 00:02:30,920 Speaker 2: about the social media ban for f under sixteen year 56 00:02:30,960 --> 00:02:33,560 Speaker 2: olds legislation in the past last week. He said he's 57 00:02:33,560 --> 00:02:36,239 Speaker 2: prepared to talk to anyone about the ban and its implementation, 58 00:02:36,400 --> 00:02:39,919 Speaker 2: including ex owner Elon Musk. He added that mister Musk 59 00:02:40,320 --> 00:02:42,960 Speaker 2: had an agenda and was entitled to push it. He 60 00:02:43,000 --> 00:02:45,840 Speaker 2: also defended Labour's handling of the economy, saying inflation and 61 00:02:45,880 --> 00:02:50,160 Speaker 2: interest rates were higher earlier in other countries, suggesting that 62 00:02:50,280 --> 00:02:54,680 Speaker 2: it's not surprising that Australian rates are taking longer to drop. 63 00:02:55,280 --> 00:02:59,360 Speaker 1: Story number three, the Competition Watchdog has given interim approval 64 00:02:59,400 --> 00:03:03,040 Speaker 1: for Virginiustralia to partner with Qatar Airways, opening the way 65 00:03:03,080 --> 00:03:05,560 Speaker 1: for the local carrier to start selling long haul flights 66 00:03:05,720 --> 00:03:08,600 Speaker 1: on This sounds an awful lot like good news for travelers. 67 00:03:09,080 --> 00:03:12,080 Speaker 2: Yeah, competition pushes prices lower, tickets will go and sale 68 00:03:12,080 --> 00:03:14,760 Speaker 2: by Christmas, and Virgin will operate seven flights a week 69 00:03:14,800 --> 00:03:17,639 Speaker 2: to Delha using Katar's planes, crews and pilots. The two 70 00:03:17,639 --> 00:03:22,040 Speaker 2: carries have agreed to court enforceable undertakings to protect customers. 71 00:03:22,240 --> 00:03:25,000 Speaker 2: The Competition Watchdogs said. The benefits that tie up include 72 00:03:25,040 --> 00:03:27,760 Speaker 2: increased choice for passengers and about three billion dollars in 73 00:03:27,800 --> 00:03:30,760 Speaker 2: economic benefits to Australia over the next five years. 74 00:03:31,080 --> 00:03:34,760 Speaker 1: Story number four. There's been a significant jump in COVID 75 00:03:34,840 --> 00:03:39,320 Speaker 1: nineteen hospitalizations and infections across the country, and health authorities 76 00:03:39,360 --> 00:03:42,360 Speaker 1: are urging caution now ahead of Christmas festivities. 77 00:03:42,880 --> 00:03:45,440 Speaker 2: The number of people hospitalized with the virus in Victoria 78 00:03:45,520 --> 00:03:48,360 Speaker 2: increased by fifty nine percent between October and November. The 79 00:03:48,400 --> 00:03:52,160 Speaker 2: state's latest COVID nineteen surveillance report says the number of 80 00:03:52,160 --> 00:03:55,000 Speaker 2: cases notified to the department has also increased by forty 81 00:03:55,000 --> 00:03:58,120 Speaker 2: four percent, according to a story on AAP COVID nineteen. 82 00:03:58,160 --> 00:04:01,000 Speaker 2: Infections have also increased in westerners Autralia after three months 83 00:04:01,040 --> 00:04:03,640 Speaker 2: of lost to be low and stable figures according to 84 00:04:03,680 --> 00:04:06,480 Speaker 2: that state's Health department, and New South Wales and Queensland 85 00:04:06,480 --> 00:04:11,440 Speaker 2: have experienced slight increases to reported infections, but their overall 86 00:04:11,520 --> 00:04:14,880 Speaker 2: numbers of COVID cases remains low. The Federal Department of 87 00:04:14,880 --> 00:04:17,520 Speaker 2: Health and Aged Care vaccination rates were down for all 88 00:04:17,600 --> 00:04:20,800 Speaker 2: states and territories in the November reporting period. A bit 89 00:04:20,839 --> 00:04:22,760 Speaker 2: of a worry because of course we're heading into Christmas. 90 00:04:22,800 --> 00:04:26,159 Speaker 2: Lots of families get together, particularly with older people, and 91 00:04:26,240 --> 00:04:27,919 Speaker 2: we just hope that we don't see a jump in 92 00:04:28,000 --> 00:04:28,760 Speaker 2: COVID cases. 93 00:04:29,000 --> 00:04:32,120 Speaker 1: Yeah. Indeed, last one story number five, Donald Trump has 94 00:04:32,160 --> 00:04:36,120 Speaker 1: demanded the bricks nations that's Brazil, Russia, India, China, South 95 00:04:36,120 --> 00:04:40,400 Speaker 1: Africa plus also Iran, Egypt, Ethiopia and the UAE. His 96 00:04:40,520 --> 00:04:43,560 Speaker 1: demanded that they not create a currency to replace the 97 00:04:43,680 --> 00:04:47,320 Speaker 1: US dollar, threatening to impose one hundred percent tariffs on 98 00:04:47,400 --> 00:04:48,839 Speaker 1: their imports if they try it. 99 00:04:49,160 --> 00:04:52,719 Speaker 2: The Group of Merging Economies have a stated purpose of 100 00:04:53,000 --> 00:04:55,719 Speaker 2: building up an international finance system that is less dependent 101 00:04:55,760 --> 00:04:58,120 Speaker 2: on the US and the European Union. The US dollar 102 00:04:58,160 --> 00:05:00,719 Speaker 2: is the overwhelming currency of choice for intinet trading, but 103 00:05:00,800 --> 00:05:04,480 Speaker 2: bricks nations, particularly Russia, have been pushing to find an alternate. 104 00:05:04,680 --> 00:05:08,279 Speaker 2: Mister Trump's threat against the bricks came as part of 105 00:05:08,279 --> 00:05:11,120 Speaker 2: a flurry of trade related demands issued by the incoming 106 00:05:11,160 --> 00:05:14,760 Speaker 2: president from his Truth social media account over the recent 107 00:05:14,920 --> 00:05:18,240 Speaker 2: few days. Mister Trump also dined with Canadian President Justin 108 00:05:18,279 --> 00:05:20,760 Speaker 2: Trudeau over the weekend. He said the latter had committed 109 00:05:21,040 --> 00:05:24,560 Speaker 2: to working to address the legal border crossings inventional smuggling 110 00:05:24,800 --> 00:05:27,200 Speaker 2: that's a condition of the US, and not imposing twenty 111 00:05:27,200 --> 00:05:28,840 Speaker 2: five percent tariffs on Canada. 112 00:05:29,080 --> 00:05:30,800 Speaker 1: All right, there we go to the top five business 113 00:05:30,839 --> 00:05:33,760 Speaker 1: stories in five minutes. Thank you Sean, Thank you Michael. 114 00:05:33,960 --> 00:05:36,800 Speaker 1: It is Monday, the second of December twenty twenty four. 115 00:05:36,920 --> 00:05:39,159 Speaker 1: Remember to hit follow on the podcast and in five 116 00:05:39,160 --> 00:05:41,480 Speaker 1: minutes isn't enough. You can find our longer daily show 117 00:05:41,520 --> 00:05:44,360 Speaker 1: called Fear and Greed wherever you listen to podcasts. I'm 118 00:05:44,360 --> 00:05:46,480 Speaker 1: Michael Thompson and that was the fast five business news 119 00:05:46,480 --> 00:05:50,560 Speaker 1: by Fear and Greed. Have a great day.