A Hermes handbag. A Ferrari F80. A diamond ring from Tiffany’s. And a Commonwealth Bank home loan?
One of these things is not like the other. But Jonathan Mott, a veteran banking analyst from Barrenjoey, sees more evidence that credit is now a luxury good, restricted to only the wealthiest households. Data provided by Westpac in the bank’s full-year results tells the story.
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
