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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the ongoing NSW lockdown, the ins and outs of the COVID-19 Disaster Payments, and how Brisbane’s successful Olympics bid could impact equities and property.

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Steve Waters, director of Right Property Group, chats about the impact of the lockdowns on the property market, what the 2032 Olympics could mean for Brisbane’s market, and whether APRA might need to pull the handbrake to cool house price growth.

RMIT’s senior lecturer of finance, Dr Angel Zhong, delves into how the Olympics and other major events affect stock returns and what the implications are for investors.

And lastly, tax and super guru Timothy Munro talks about the near-record super returns, the COVID-19 Disaster Payments and what they mean for your super.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

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Price gouging and public concern

By Grace Ormsby

March 30 2020
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Price gouging and public concern

By Grace Ormsby
March 30 2020

Panic buying has seen a number of anecdotal reports around the practice of price gouging, leading to a response from Australia’s consumer watchdog.

Price gouging and public concern

By Grace Ormsby

March 30 2020
Share

Panic buying has seen a number of anecdotal reports around the practice of price gouging, leading to a response from Australia’s consumer watchdog.

The Australian Competition and Consumer Commission (ACCC) has noted that price gouging for essential products is a “significant public concern at this time”.

According to the watchdog, it will be prioritising its activities in relation to this conduct, even though the practice is “generally not illegal”.

However, if a business makes misleading claims about the reason for price increases, it could be in breach of Australian Consumer Law.

In addition, it’s also possible that extreme price gouging for essential products may amount to unconscionable conduct, the ACCC flagged.

The statement from the watchdog outlined that it will “continue to focus on affordability issues in sectors such as energy, communications and petrol”.

To do this, it will draw attention to the sectors where it considers excessive pricing to be in effect, “and where necessary will identify businesses engaging in conduct of this kind”.

“The ACCC recognises that affordability of essential services is particularly critical at a time of growing unemployment,” it said.

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About the author

Grace Ormsby

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

About the author

Grace Ormsby

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