Australians should consider putting their money in their superannuation instead of property as fund balances are now growing faster than house prices.
Analysis by Chant West showed median growth-orientated retirement balances surged by 12.2 per cent since July 1 - something unthinkable only a year ago.
The double-digit growth in just nine months, to the end of March 2021, was even stronger than the 7.7 per cent surge in Sydney s median house price during the past year.
Australia s share market was this week close to reaching a record high, with the benchmark S&P/ASX200 just 1.5 per cent below the all-time peak of 7,197 set in February 2020 shortly before the Covid shutdowns.
Marketplace Lender SocietyOne Tops $1 Billion in Lending
SocietyOne, an Australian marketplace lending platform, says it has topped $1 billion in online lending in January.
SocietyOne notes that it launched a secured lending product in December and said the month generated a record amount of originations. The secured product first completed a pilot with a small selection of brokers, who were said to have provided extremely positive feedback.
SocietyOne CEO
Mark Jones commented:
“We’re hitting the ground running in 2021 and building on our strong growth momentum by diversifying our product offering through a range of new product launches and improvements to the customer experience. With the launch of a secured loan product, we’re able to increase accessibility and flexibility for our customers, while maintaining our high credit quality for our investors. Eligible borrowers will now be able to access an increased loan amount and longer-term while receiving a 1% rate discoun