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ustralia's top finance and property experts are optimistic about the country's economic outlook, with 88% of respondents in a recent survey believing the Reserve Bank of Australia (RBA) will cut the cash rate tomorrow. This would bring it down to 3.60%, providing relief for homeowners.

    The cost-of-living crisis may be coming to an end, according to almost half of experts surveyed, who believe it has passed its peak. However, not everyone is convinced. Stella Huangfu from the University of Sydney notes that many Australians are still struggling financially, with 43% having less than $1000 in savings and 18% having no savings at all.

    Despite higher average savings rates, mortgage stress remains a concern, with Finder's data showing it has decreased to 34%. Experts warn that while some Aussies may be gaining financial confidence, others are barely scraping by. Graham Cooke from Finder notes that the property class divide in Australia is widening, with relief being felt more directly by homeowners.

    Jakob Madsen from The University of Western Australia disputes the notion of a cost-of-living crisis, suggesting it's not as severe as many believe. He argues that most remuneration is indexed to consumer prices, so the standard of living has not changed much. However, others disagree, with Kyle Rodda from Capital.com stating that the crisis is essentially a housing crisis driven by supply issues.

    Adj Prof Noel Whittaker from QUT points to a growing wealth divide in Australia, describing it as a "two-tier society" where the gaps between the haves and have-nots are widening.