29 March 2024
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5 things you need to know today

Switzer Daily
28 January 2020

1. Victoria has held on to the top spot in CommSec's latest State of the States report, beating out all other states in economic growth, retail trade, equipment investment and construction work. Tasmania holds the second position, followed by New South Wales.

2. China's ban on international group travel is expected to last for up to two months as the death toll from the coronavirus reaches 82 with almost 3,000 confirmed cases worldwide.

3. Research conducted by PricewaterhouseCoopers suggests that the local economy could take a hit of up to $2.3 billion if the number of Chinese tourists and students visiting Australia declines. "We've had a soft economy, the drought, the bushfires and now this virus. It's bad news on top of bad news," chief economist Jeremy Thorpe told the Sydney Morning Herald.

4. 87.4% of properties resold during the September 2019 quarter made a profit according to CoreLogic's quarterly Pain & Gain report, with Hobart leading the pack with 98.1% of properties selling for more than their previous price. "Hobart has experienced particularly large capital gains over the past five years and this has translated into exceptionally strong results for resellers of both houses and apartments during the past quarter," said Eliza Owen, CoreLogic's head of residential research.

5. On Monday on Wall Street, the Dow Jones closed down 453.93 points or 1.57% to 28,535.80, the S&P 500 fell 51.84 points or 1.57% to 3,243.63 and the Nasdaq dropped 175.60 points or 1.89% to 9,139.31.

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