"Just good governance" - retired rear admiral Mark Purcell backs nuclear subs deal in face of new strategic threats, sees major jobs potential under AUKUS

A former naval chief says Australia's decision to scrap a $90 billion submarines deal with France in favour of the AUKUS pact is just "good governance" and recognition of new strategic threats in our region. 

Retired rear admiral Mark Purcell who spent 30 years in the navy as in top strategic roles says the deal to build nuclear submarines under the alliance will create thousands of local jobs and demand special skills required in building nuclear submarines. 

Also the International Monetary Fund has warned surging real estate prices pose a threat to Australia's financial system. 

Here's my Monday Finance analysis broadcast this morning on RN Breakfast with Fran Kelly.