The Australian Bureau of Statistics (ABS) has released home ownership data for the year ended 2019-20, with Australia’s home ownership rate remaining constant at 66%: However, there has been a sharp decline in home ownership rates over the past two decades: Home ownership with or without a mortgage decreased from 71% to 66%. Home ownership
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The OECD’s annual report shows that the total income tax burden on the average worker in Australia is now 23.2%. This compares with an 14.9% average among the 38 member nations of the OECD. This has made Australia the fourth-highest income-taxing nation among OECD members, behind Denmark, Iceland and Belgium. Bob Breunig from the Australian
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BofA with a quick insight into why the Fed is not worried about stock prices right now. — As the equity market continues to sell off, investors are asking: what does this mean for the economy and how bad does it need to be for the Fed to pause? On these questions, a picture is
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ACTU secretary Sally McManus says skills and immigration are among the issues that unions want to discuss at the new federal government’s employment summit. Michael Wright, the acting national secretary of the Electrical Trades Union, contends that the minimum income for temporary skilled visa holders, which has been frozen for a decade, is set far
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The ferrous complex was hit on May 24, 2022: Here’s a take from Barclays that reiterates my views nicely: The impact of higher infrastructure spending on steel demand will be tempered by the weak property market, which has much higher contribution to steel consumption. Historic analysis shows iron-ore and steel prices tend to fall during
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China is furiously pulling the macro levers but all the wrong ones. It is certainly going to recover as lockdowns ease but not very powerfully and another shock is just starting. Here’s a sample of what it is doing monetarily: The People’s Bank of China (PBOC) on Monday held a meeting with 24 major financial
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Here’s what the Australian Industry Group said yesterday: “The cessation of gas trading by Weston Energy plunges hundreds of businesses across Eastern Australia into uncertainty around their energy bills and is a warning of more pressures to come on business and households from high energy prices,” Innes Willox, Chief Executive of national employer association Ai
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The press is all dewy-eyed about this but is it good strategy? China should dump its tariffs on Australian exports if it is serious about mending relations with Canberra, Prime Minister Anthony Albanese has suggested, as he reassured the region a change of government in Australia should not be mistaken for a change in the nation’s resolve
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Wall Street had the wobbles again overnight, led by a steep selloff in tech shares with European shares also unsteady with new PMI surveys coming in under expectations. The bond market saw some strength in response, with the 10 year US Treasury yield pushed down to the 2.7% level, with interest rate markets still continuing
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Recently we have seen multiple major residential construction companies go into liquidation, including Probuild, Condev, ABG Group, and Privium, alongside several smaller players like Hotondo Homes Hobart, Home Innovation Builders and Next. Construction giant Metricon is also reportedly on the verge of collapse following last week’s sudden death of founder and CEO Mario Biasin. Russ
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