Sydney and Melbourne property values have plummeted for the second consecutive month with the most expensive homes taking the impact of the falloff as buyers and sellers return to the market. Home prices across the country fell 0.7 per cent in June following a 0.4 per cent decline in May, Home Value Index released on Wednesday shows. All capital cities, with the exception of Adelaide, Hobart and Canberra, experienced declines. In Sydney, prices for all homes fell 0.8 per cent over the month, compared with a 1.1 per cent fall in Melbourne.
Suncorp CEO Insurance Gary Dransfield will leave the company this month as part of a major corporate restructuring. Leadership of the insurance division has been split into two, with the new positions to be filled from within the company. Mr Dransfield, who is also President of the Insurance Council of Australia, will leave on July 17. Current Chief Customer & Digital Officer Lisa Harrison has been appointed to the new role of Insurance Product and Portfolio CEO. The new role of Chief Operating Officer – Insurance will be taken by Paul Smeaton who has led the Suncorp New Zealand business for the past five years. Suncorp New Zealand CFO Jimmy Higgins will lead that business in an acting capacity while the search for a permanent CEO is commenced.
Qantas has announced two new routes to regional NSW in an attempt to lift tourism post-COVID. From today, the airline will start flying from Sydney to the popular coastal town of Byron Bay – for the first time in 15 years. From July 20, passengers will be able to fly direct from Sydney to Orange, which has become a hotspot for wine and food lovers. QantasLink CEO John Gissing said the growing demand for domestic bookings is a positive sign local tourism is slowly getting back on track. The new routes come days after the airline announced thousands of jobs would be lost in the wake of the COVID-19 fallout, which has battered the aviation and tourism sector.
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