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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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Big four banks closing satisfaction gap

By Reporter · July 31 2017

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Big four banks closing satisfaction gap

By Reporter
July 31 2017

Reading:

Roy Morgan, Norman Morris, banking satisfaction, bank customers, Australian banks, retirement savings,

Big four banks closing satisfaction gap

By Reporter · July 31 2017

Reading:

Australia’s four largest banks are catching up to their smaller peers on customer satisfaction, new data has shown.

The country’s largest four banks; Commonwealth Bank, Westpac, NAB, and ANZ, have lagged behind smaller banks for customer satisfaction for years, but in the last decade the gap has narrowed significantly, according to Roy Morgan Research.

In fact, the company’s monthly banking satisfaction report for June 2017 found that the divide between the big four and the smaller banks has more than halved since 2005; reducing from 11.1 per cent that year to only 5 per cent at the present.

“A major focus among the big four banks over more than a decade has been to improve their customer satisfaction and be ranked number one among their peers on this metric,” noted Norman Morris, the industry communications director for the research company.

“This strategy appears to be paying dividends as not only are the big four showing improvements in satisfaction but are closing the gap to the smaller banks who have been the pacesetters in satisfaction for a long time.”

Satisfaction with the big four banks in the six months to June 2017 was 79.8 per cent, marking a 0.3 per cent increase on the six months to June 2016, the report said.

During this same period of time, cumulative satisfaction with the country’s other banks declined 0.9 per cent from 85.7 per cent to 84.8 per cent.

Despite the narrowing of this gap however, the report found smaller bank customers were still more likely to recommend their bank to friends and family than customers of the big four banks.

Customers of Teachers Mutual Bank and Heritage Bank were the most likely to recommend their financial institution to a friend or family member, with 72.1 per cent and 66.4 per cent of customers respectively saying they would do so.

Of the big four, customers of Commonwealth Bank were the most likely to recommend their bank to peers, with 50.8 per cent saying they would advocate for their bank.