Retail spending is on the rise because of the Corona Virus.
According to finder.com.au shoppers spent an extra $13.5 billion in the last month because of panic-buying.
COVID-19 panic-buying is cost Australians an average $848 extra last month, or a combined estimated $13.5 billion according to Finder.
No real surprise here when you see the queues at supermarket checkouts, is there?
in March to date
| Difference in March 2020
vs October 2019
Source: Finder app
- A 214% jump in share trading spending, as stock markets plunge opening an opportunity to buy cheaper securities.
- ATM cash withdrawals have dropped this month to date by 11%, as reports around the spread of coronavirus on physical cash has been heard
- Health care and medical expenses has increased by 31% this month to date, as Australians are seen stocking up on medical supplies
- Interestingly while most people are in self-isolation this month, we’ve found a 35% increase in spending on petrol compared to October 2019
- Unsurprisingly, spending on restaurants and dining has dropped by 9%, and this is expected to drop further in the coming months as more food businesses close.
If you're wondering what will happen to property in 2020–2021 you are not alone.
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In challenging times like we are currently experiencing you need an advisor who takes a holistic approach to your wealth creation and that's what you exactly what you get from the multi award winning team at Metropole.
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- Property Management - Our stress free property management services help you maximise your property returns. Click here to find out why our clients enjoy a vacancy rate considerably below the market average, our tenants stay an average of 3 years and our properties lease 10 days faster than the market average.