There’s only one broad labour market group that can afford the typical $1 million house. Here’s why the housing crisis could spark something else underground.
Analysts highlighted an exceptionally volatile profit reporting season on worries about the impact of AI, as traditional miners and banks favoured by older generations jumped higher.
Harvey Norman chair Gerry Harvey reckons consumers have cast aside cost-of-living pressures to stock up on AI-led computers and mobile devices, helping it deliver a 15 per cent increase in half-year profit.
Coles chief Leah Weckert says while this month’s interest rate rise has knocked consumer confidence, the supermarket giant is yet to see the impacts on shopping behaviour.
Discount pharmacy juggernaut Chemist Warehouse has attributed its double-digit sales lift to the growing popularity of weight-loss drugs like Ozempic and Mounjaro.
The company behind some of Australia’s best-known brands says consumers were “rattled” about interest rate hikes as early as December, which led to a more cautious shopping behaviour during Christmas.