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After an initial period of extreme uncertainty, the rhetoric around the Australian property market appears to have shifted into a new phase in response to the ongoing coronavirus pandemic.

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On this episode of The nestegg Podcast, host Grace Ormsby is joined by the founder and CEO of Upside Realty, Adam Rigby, to delve into how COVID-19 has been affecting different demographics within the property sector, including renters, landlords, investors and retirees.

Adam touches on the pros and cons of potentially removing stamp duty, his predictions for marketplace trends over the coming months, and the importance of picking quality over timing when considering an investment.

Thanks Adam, for sharing your insights with the nestegg podcast team!

You can keep up to date with what Upside Realty are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Are Aussies paying too much at the pump?

By Cameron Micallef · April 09 2020

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Invest

Are Aussies paying too much at the pump?

By Cameron Micallef
April 09 2020

Reading:

Are Aussies paying too much at the pump?

By Cameron Micallef · April 09 2020

Reading:

Fuel prices are falling dramatically due to a Russian and Saudi Arabian oversupply and a lack of demand from consumers who are self-isolating, leading to a better deal for Australian consumers.

Across the country, Australia’s fuel prices have fallen to levels not seen since the Sydney Olympics, with motorists paying 11 cents a litre less for fuel in March.

Abigail Koch, household savings expert at comparethemarket.com.au, said: “Our analysis shows that petrol prices across the country have been falling, which is good news for motorists who are looking to save some cash during this unpredictable time.

“Canberra had the most expensive fuel in the country, with a quarterly average of 143cpl, while Perth motorists once again paid the least over the quarter, at 132cpl,” she explained.

State Street Global Markets (SSGM) predicts the good times could continue for motorists as it can’t rule out oil prices below US$10 a barrel as demand drops by more than 20 million barrels per day.

“As we look at pictures of empty streets in London, New York and other major cities around the world, it is clear 2020 is going to see far fewer miles driven,” said Ben Jones, multi-asset class strategist at SSGM.

How does Australia stack up?

nestegg has analysed data from global petrol prices around the world to see if Australian consumers are really paying too much for fuel.

NE_PetrolPrices.jpg (826×550)

While countries’ exchange rates play a pivotal role in prices, Australia is roughly in the middle when it comes to fuel costs.

Despite this, as major fuel companies continue to pump oil, the cost of Australia’s fuel should continue to fall.

“From 1 April, Saudi Aramco will open the taps and produce 12 million barrels of oil a day, up from an average of 10 million. From a budget perspective, Saudi Arabia will need oil prices of around $87 to breakeven, whereas Russia needs oil at just $42. There is no sign that Saudi Arabia and Russia will return to the negotiating table any time soon, so we expect little softening in either’s stance.”

US shale may be able to sell to the US Strategic Petroleum Reserve at relatively high prices, but with supply now exceeding demand by more than 20 million barrels a day, those stores could fill within three to four months.

“Storage is profitable at the moment, as the futures market has moved into ‘super contango’. However, oil has had its worst quarter ever in dollar terms, but single-digit oil is still a possibility,” Mr Jones said.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.