According to CoreLogic, home values across New Zealand fell by 0.5% in August, with Auckland seeing the biggest decline at 1.0%: On a quarterly basis, dwelling values declined by 2.2% across New Zealand, with falls recorded across all major markets: Home values have fallen 16.8% from their post-Covid peak, with Auckland (-21.8%) and Wellington (-21.5%)
Somehow, it’s not as funny as usual. Australia, the world’s second largest exporter of liquefied natural gas (LNG), is preparing to do what no one saw coming. Import gas for its own citizens. “Look, it’s simple economics,” said the government spokesperson. “We had a lot of gas. China and other countries needed gas. So, we
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Power should only ever be vested carefully, and certainly not in the hands of mining magnate Gina Rinehart, a creature so comically absurd as to warrant immediate dismissal in any respectable commentary. But Australia’s richest human being demands to be noticed, given the insensible influence she continues to exert in press and policy circles. Rants…
Wayne Swan taught Jim “chicken” Chalmers everything he knows: Former Labor federal treasurer Wayne Swan has backed the government’s attitude towards inflation, saying he is “very disappointed” in the Reserve Bank and it was “punching itself in the face.” Mr Wayne, who was Jim Chalmers‘s boss, slammed the RBA for “hammering households” with interest rates
Last week, the Australian Energy Market Operator (AEMO) announced new energy supply and demand projections for the next decade. According to AEMO, a slower uptake of battery-electric vehicles (EVs) will reduce demand on the electrical system. In December, AEMO predicted that seven million electric vehicles would be sold over the following ten years, but that
While ordinary Australians are suffering through the worst cost-of-living crisis in generations and a record decline in household disposable incomes. The Albanese government is gifting fat salaries to senior public sector bureaucrats. A few months back, incoming Governor-General Sam Mostyn was awarded a 43% pay rise to $709,000 a year to compensate for a lack
What else can we call it? The multiple on the bourse is fast approaching COVID overvaluations. Even as earnings fall away and the outlook is no better as bulk commodity prices collapse. The bubble is led by banks: But is broad-based: Hilariously, it is better than elsewhere: Goldman has more. Misses out-numbered Beats (38% vs
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A simple fact of macro management that Treasurer Dr Jim “chicken” Chalmers appears unaware of: Jim Chalmers has credited record government spending and Labor’s budget strategy for keeping Australia out of recession amid the weakest non-pandemic economic growth since 1991, using the data to reject the Reserve Bank’s claim the economy is “running too hot”.
The chair of Australia’s National Housing Supply and Affordability Council, Susan Lloyd-Hurwitz, attacked the government’s planned caps for international students, claiming that it won’t ease the rental crisis and will endanger Australia’s second-largest export industry. Caps on international student numbers would likely have “very little effect” on housing supply, according to Ms Lloyd-Hurwitz. “Because students
The Australian Electoral Commission yesterday announced the final decision for the federal redistributions in Victoria and Western Australia.
Unfortunately the AEC hasn’t yet published the maps, digital boundary files or data matching each SA1 to each electorate. While it may be possible to estimate these, I don’t have capacity with all of the elections going on now.
The final determination will be published on September 24 for Western Australia and October 17 for Victoria, so I will attempt to update my margin estimates then.
The RBA is about to lose the interest rate debate: Government subsidies for childcare, aged care and disability care have surged more than 20 per cent in the past year, but Labor has left the door open to more public spending ahead of the next election despite economists warning that this is unsustainable. Explosive growth
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