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Speaker 1: It's Monday, the sixth of October twenty twenty five. Welcome

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Speaker 1: to the Fast five by Fear and Greed, where we

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Speaker 1: give you the top five business stories you need to

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Speaker 1: know in just five minutes. I'm Adam Lang and good morning,

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Speaker 1: Sean Aylmer.

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Speaker 2: Good morning, Adam.

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Speaker 1: Sean's story number one. The Australian housing market is gathering

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Speaker 1: ahead of steam, with three rate cuts this year pushing

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Speaker 1: prices higher and experts tipping more price increases in the

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Speaker 1: coming months.

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Speaker 2: Melwyn's one of the strongest capital cities, demonstrated once again

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Speaker 2: over the past week with a preliminary auction clearance rate

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Speaker 2: of nearly seventy two percent this time last year was

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Speaker 2: fifty nine percent. Just shows how much stronger that market is.

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Speaker 2: Notwithstanding there was Rugby League Grand Final in Sydney last night,

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Speaker 2: involving teams from Brisbane and Melbourne. The preliminary clearance rate

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Speaker 2: across the nation also came in at seventy two percent,

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Speaker 2: while prices in Melbourne are lagging somewhat. The improvement in

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Speaker 2: auction results and the fact that the medium house price

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Speaker 2: is now below Sydney, Brisbane, Perth, Adelaide and Canberra. Augus's world.

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Speaker 2: For the southern capitol Darwin, Perth and Brisbane are the

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Speaker 2: fastest growing capital cities, at least in terms of price

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Speaker 2: CANbus Sydney Hobert Or risen by about two and a

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Speaker 2: half to three percent over the past year that Sydney

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Speaker 2: has far and away the most expensive median value, worth

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Speaker 2: more than one point two million dollars.

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Speaker 1: The question is, Sean, can house prices keep running? We've

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Speaker 1: now had nine months in a row of coatalities house

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Speaker 1: family index increasing and the price rises have been broad based.

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Speaker 1: Can they keep going?

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Speaker 2: Too hard for me? I'm handing that one to Shane Oliver,

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Speaker 2: amp's chief economists reckons seven percent growth rate this year,

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Speaker 2: eight to ten percent next year. Bunch of factors behind that.

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Speaker 2: Interest rates could still fall a little bit more, real

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Speaker 2: wages arising, consumer sentiments picked up, the property shortage remains

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Speaker 2: big one, and government support for first home buyers ramps

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Speaker 2: up again well did this last week. In fact, Oliver

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Speaker 2: said there's still an accumulated housing shortfall that's built up

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Speaker 2: over the last few years. He reckonsidered about two hundred

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Speaker 2: and fifty thousand units below where they should be. We've

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Speaker 2: also got the governments helped to buy scheme with ten

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Speaker 2: thousand places a year soon kicking in. That's where the

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Speaker 2: government takes thirty to forty percent equity stake that will

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Speaker 2: help prices right. The upswing is likely to be well

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Speaker 2: somewhat constrained, I suppose, because interest rates won't fall to

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Speaker 2: their twenty twenty one record lows. There's also poor affordability.

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Speaker 2: The ratio of home prices to wages in incomes is

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Speaker 2: around record level.

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Speaker 1: Story number two sean Bitcoin has hit an all time high,

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Speaker 1: with fears around the US government shutdown not stopping price

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Speaker 1: appreciation of riskier asset classes.

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Speaker 2: Over the weekend, the crypto hit one one hundred and

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Speaker 2: twenty five six hundred and eighty nine US dollars, topping

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Speaker 2: its previous record set on fourteenth of August, helped along

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Speaker 2: by higher equities and strong flows into bitcoin linked exchange

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Speaker 2: traded funds. It's now at thirty percent this year. October

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Speaker 2: has over the past decade, proven a very strong month

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Speaker 2: for bitcoin, with the crypto rising nine of the last

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Speaker 2: ten Octobers. There are quite a few asset classes trading

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Speaker 2: around all time highs at the moment. Adam not just

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Speaker 2: gold and silver Pokemon cards for example, they're also at

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Speaker 2: an all time high. According to Bloomberg.

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Speaker 1: Story number three, the cost of the Snowy two point

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Speaker 1: zero pumped hydro project will push beyond the already revised

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Speaker 1: twelve billion dollars, with no new figure given for the

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Speaker 1: country's flagship renewable project, which is intended to keep the

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Speaker 1: lights on as coal power stations close.

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Speaker 2: The blowout and costs for the mega project adds more

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Speaker 2: pressure to Australia's energy transition, which is struggling with cost

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Speaker 2: overruns and delays at several major new projects, notably in

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Speaker 2: electricity transmission. Chief the executive of Snowy tuop and A,

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Speaker 2: Denis Barnes, said that while the need to revise the

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Speaker 2: cost was disappointing, the critically the critical importance of Snowy

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Speaker 2: two point zero for energy consumers had not changed. Constructions

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Speaker 2: about sixty seven percent complete, it's still on track to

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Speaker 2: be finished by December twenty twenty eight, according to the

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Speaker 2: Finn Review. Barnes declined to give a ballpark estimate of

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Speaker 2: what the final cost may be, but said he remained

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Speaker 2: confident about the worth of the project.

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Speaker 1: Shawn Stey Number four, the country's biggest banks and retailers

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Speaker 1: have reached a deal with armoor Guard, the monopoly cash

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Speaker 1: transportation business, to ensure Australians can continue to access cash.

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Speaker 2: The landmark agreement. It comes after almost two years of

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Speaker 2: negotiations and follows the development of a pricing model by

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Speaker 2: Deloitte Access Economics and a joint statement Armorguard and the

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Speaker 2: Australian Banking Association said this is an important milestone and

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Speaker 2: working to keep cash available around Australia even while people

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Speaker 2: are using less of it. The new pricing model will

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Speaker 2: be governed similarly to the electricity and gas distribution sectors,

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Speaker 2: with independent oversight of the company's contracts. The Australian Competition

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Speaker 2: and Consumer Commission still has to approve the deal.

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Speaker 1: Story number five. Ford's chief executive has warned of oblique

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Speaker 1: outlook for electric vehicles as President Donald Trump's policies breathe

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Speaker 1: renewed life into internal combustion engine vehicles.

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Speaker 2: The elimination of a seven and a half thousand US

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Speaker 2: dollar consumer tax credit and softening of emission's rules will

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Speaker 2: sharply curtail ev demand in the US. Ford CEO Jim

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Speaker 2: Farley said he predicted the share of zero mission vehicles

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Speaker 2: currently around ten percent of the domestic market could drop

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Speaker 2: by about half. According to Bloomberg. He said the EV

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Speaker 2: market will be way smaller than we thought. He said

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Speaker 2: he sees more opportunity in partial electrification think hybrids. He

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Speaker 2: believes pure evs are best suited for commutative vehicles that

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Speaker 2: make short runs and account for only about five to

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Speaker 2: seven per cent of the market. The Blunt assessment underscores

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Speaker 2: the rapidly changing dynamics for the auto industry under Trump,

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Speaker 2: with many major manufacturers delaying EV production plans and redeploying

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Speaker 2: investment dollars to internal combustion engine and hybrid vehicles.

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Speaker 1: That's it, the top five business stories in just five minutes.

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Speaker 1: Thank you Sean, Thank you Adam. It's Monday, the sixth

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Speaker 1: of October twenty twenty five. Remember to hit follow on

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Speaker 1: the podcast, and if five minutes isn't enough, then find

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Speaker 1: our longer podcast called Fear and Greed on your favorite

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Speaker 1: podcast platform. I'm Adam Lang and that was the fast

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Speaker 1: five by Fear and Greed. Have a great date,