Weekly Money Wrap: The latest economic and lifestyle topics and what they mean for you.

Wrapped by Matt Bowen, Friday 6 June 🎧 to Fred Again radio.

From cheaper flights to pricier gaming consoles, the economy keeps throwing us curveballs. But hey, at least we can still afford to fly somewhere nice to recover from it all.

✈️ Flying High (Without Breaking the Bank)

Here’s a surprise that’ll make you feel better about your next holiday booking: while everything else has been going through the roof price-wise, airfares have actually been pretty kind to us.

New data from Flight Centre shows that domestic economy fares have only risen 8% since 2019, international economy by 12%, and business class by just 7%. Compare that to the 30%+ surge we’ve seen in bread, milk, and petrol, and suddenly that weekend getaway doesn’t look so unreasonable.

The better news? With wages up 16.5% over the same period, flying is actually cheaper in real terms than it was six years ago. A few things are driving this: government support programs helped regional tourism when borders reopened, airlines got leaner and more efficient, and new partnerships (like Virgin Australia teaming up with Qatar Airways) have kept competition fierce.

Key takeaway: Your dollar stretches further at the airport check-in counter than at the supermarket checkout. We know it’s your #1 savings goal, so start planning that next trip, but book early and squirrel away those pennies where you can.

🏠 Property Market: The Resilience Continues

Even the experts didn’t predict this. What was supposed to be a slow start to the year in property value growth has been much more marked. We’re now looking at four consecutive months of growth across the country, and buyer sentiment is definitely on the rise.

Fresh data from CoreLogic/Cotality shows prices rose in every capital city last month. Darwin led the charge with a 1.6% jump, Perth followed at 0.7%, and Sydney, Brisbane, and Melbourne each gained between 0.4% and 0.6%. That’s pushed national values up 1.7% year-to-date.

But here’s where it gets interesting – it’s not just about price anymore. The market’s throwing up some unique challenges:

Buyer competition is fierce at the lower price tiers thanks to interest rate cuts bringing sidelined buyers back into the game.

New housing approvals are down – homes by 6% and apartments by a whopping 19%.

And outdoor space is commanding serious premiums – you’ll pay up to 20% more in Sydney and 40% more in Brisbane for properties with balconies, patios, or courtyards.

But don’t feel helpless. Get yourself purchase fit. If you’re shopping at the lower end of the market, then be prepared to move fast with pre-approved finance – this is a hotly contested market. And if that balcony isn’t essential, skipping it could save you a decent chunk of change (and get you in the market sooner).

🌪️ When Nature Shows Us the Bill

2025 has been a tough year for many Aussies – tropical cyclones in Queensland, floods in NSW, bushfires across Victoria. But alongside the human impact, there’s a serious economic cost that’s hurting too.

Treasury estimates put the economic damage at $2.2 billion year-to-date. That’s from slower consumer spending, lost business trade, and of course, the massive write-offs and insurance claims. With GDP crab-walking, the natural disasters have hit many regions and sectors of our economy and holding us back.

But there is some silver lining: We’re starting to see the benefits of the Cyclone Reinsurance Pool launched in 2022 – premiums in high-risk cyclone areas are down 39%, and coverage has expanded by almost 20%. Its working as intended and helping more Aussie businesses and families protect their important assets.

The reality check: These disasters are becoming a regular part of our economic landscape. and unfortunately, there’s no Commonwealth backed reinsurance pool for floods or bushfires (yet). But the economic data is stacking up and it’s surely an interesting policy discussion?

🎮 Nintendo’s Expensive New Toy

Aussie gamers, your wallets are about to feel lighter. The Nintendo Switch 2 officially hits shelves this week at $699 – making it Nintendo’s most powerful and priciest console yet.

Pre-orders have been strong across Australia, with retailers like JB Hi-Fi and EB Games hosting midnight launches. Which is great news for retail stores who’ve been doing it tough amid cautious consumer spending. Gaming contributes over $4 billion to the Aussie economy, so this launch should also drive a decent sales boost.

But its no longer child’s play – gaming is getting expensive. The Switch was previously the budget-friendly option, but this new edition puts the console right in the middle of competitor pricing. And games are expected to retail between $100-120 each.

Money-saving tips for gamers:

1. Hunt down starter bundles – they often include games or accessories at a discount (Mario Kart World Bundle currently available for $769)
2. Subscribe to Nintendo Switch Online for free upgrades on some games and access to classic catalogues
3. Trade in your old console or games – many stores offer credit toward new purchases (let’s face it, you’re not going to play the old Switch anyway).

💕 Money, The New Love Language

Dating in 2025 is getting a serious reality check. What used to be a taboo topic – talking about money – is now becoming part of the first-date checklist.

With rising property prices, sky-high rents, and the ongoing cost-of-living squeeze, we’re naturally looking for not just emotional compatibility, but financial compatibility too. Bumble research shows 37% of Aussies are comfortable discussing finances early in the dating process, and over half think it’s appropriate within the first six months.

This trend is being dubbed “cash candid” and it’s driving a rise in low-cost or no-cost dates. Previous ING research found it’s pretty common for people to spend $200 on a date – which adds up fast when you factor in multiple dates, dating app subscriptions, and even new clothes for the occasion.

The modern dating reality: Whether it’s discussions about height (refer to new Tinder filter), house deposits, or HECS debt, everything’s on the table these days. It might feel a bit unconventional, but it’s actually a sign of the times. Better to know where you both stand financially before things get serious.

Til next week.

Matt

@mattyb_money

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Matt Bowen is ING’s Head of Consumer & Market Insights. He appears daily on Ch7 Sunrise program with commentary on the top money stories for Australians. For interviews or media enquiries, or interview requests, please contact Cassandra Geselle