Marina Karpathios

Sydney and Melbourne’s housing markets are cooling, auction clearances are at Covid levels and slipping and many households feel tighter than they did a year ago. Australia’s economy grew by only 0.3 per cent in the March quarter, down from late last year. But under the hood, the picture is split. Households are pulling back, while business investment is picking up pace. Where you live is starting to shape which side of the coin you feel most. A major build-out is now under way.

Australia’s inflation rate eased to 4.0 per cent in the year to May 2026, down from 4.2 per cent in April, broadly in line with expectations that inflation is settling around the 4 per cent mark. The latest figures from the Australian Bureau of Statistics (ABS) reinforce a defining theme this year - the descent is proving more delicate than the climb. Price pressures are easing, though not evenly.

A text about your tax return. A too-good investment opportunity. A call from your kid asking for a quick transfer. None of it is random. Westpac Head of Scam and Fraud Prevention, Ben Young, puts it bluntly, “there is a scam for everyone.” Speaking to host Sylvia Jeffreys of The Pay Off podcast, Young says scams follow behaviour, weaponising what feels familiar. “Scammers are pretty seasonal. They like to pick up whatever’s flavour of the month,” Young explains.