Here are the stories from the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) and Australian finance circles today. Rask Media has your financial news sorted.
First, here are the data points:
Australian Dollar ($A) (AUDUSD): 73.54 US cents
Dow Jones (DJI): up 1.1%
Oil (WTI): $US53.10 per barrel
Gold: $US1,236 per ounce
Finance News
Making economic headlines today, we have the RBA’s interest rate decision due out this afternoon. According to The West Australian, Australia’s central bank is tipped to keep interest rates on hold (no surprises there!).
In investing news, Australian property prices are a hot topic this week after property research house CoreLogic found Aussie house prices had fallen 0.7% nationally in November.
With Sydney’s property prices down 1.4%, the peak-to-trough decline in prices for homes in Australia’s largest city totals 9.5%. Year over year, house prices have fallen 5.8% in Melbourne and 5.3%, on average, across capital cities.
However, home prices in Hobart and Canberra were 9.3% and 4% higher than this time last year, so it’s not all bad.
Amongst other things, throughout 2018 the news of slowing house prices has taken a toll on shares of banks like Westpac Banking Corp (ASX: WBC) and Commonwealth Bank of Australia (ASX: CBA), and property developers like Mirvac Group (ASX: MGR).
Perhaps now is a good time for income-focused investors to start looking outside of markets linked to Australian property for their returns.
If you’re looking for 3 ASX that might provide protection against falling house prices (and pay dividends), keep reading…
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