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Eslake vs HIA on negative gearing

April 17, 2014 - 11:45 -- Admin

By Leith van Onselen In case you missed it, attached is an interesting debate aired last night on ABC’s The Business  on the merits of negative gearing. In the one corner is Saul Eslake, chief economist at Bank of America Merrill Lynch, arguing (as I have done) that negative gearing is a wasteful policy that [...]

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Uber takes the fight to taxi cartel

April 17, 2014 - 11:25 -- Admin

By Leith van Onselen Around six months ago, I attended a friend’s bucks party in Melbourne’s CBD. As bucks nights usually go, we ended up at some seedy bars along King Street, where the night ended around 2 am. As is so often the case in Melbourne, we were unable to find a taxi. Luckily [...]

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RP Data weekly Australian house price update

April 17, 2014 - 10:27 -- Admin

By Leith van Onselen In the week ended 17 April 2014, the RP Data-Rismark 5-city daily dwelling price index, which covers the five major capital city markets, rose by 0.37%. It was the seventh consecutive weekly rise in values (see next chart). Values rose in four major capitals and fell in one (see next chart). [...]

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Why won’t high speed rail die?

April 17, 2014 - 09:37 -- Admin

By Leith van Onselen While driving home from the swimming pool on Tuesday night, I listened to an ABC radio interview  featuring former leader of the National Party, Tim Fischer, alongside Beyond Zero Emissions’ Gerard Drewe, lamenting how the proposed second Sydney airport would lessen the prospect of building a high speed rail line linking [...]

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Melbourne’s ghost city sounds alarm bells

April 17, 2014 - 08:44 -- Admin

By Leith van Onselen Melbourne’s “build it and they will come” approach to construction, which has seen it rank high-up on the global skyscraper index, appears to be suffering more indigestion. Following recent reports that CBD and St Kilda Road vacancies have rocketed and rents plummeted, as apartment supply runs well above demand, The AFR [...]

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Why tax deductible childcare is a bad idea

April 17, 2014 - 08:21 -- Admin

By Leith van Onselen The Australian’s Particia Karvelas has produced a good article today explaining why making childcare tax deductible and removing the $7,500 cap, as proposed by several submissions to the Productivity Commission inquiry into childcare, would be a bad deal for lower-to-middle income families: The chief executive of advocacy group Early Childhood Australia, [...]

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Apartment construction booms

April 17, 2014 - 08:12 -- Admin

By Leith van Onselen Yesterday’s dwelling construction data, released by the ABS, revealed a fall in actual completions over the December quarter, but a big pick-up dwelling commencements, which are following approvals upwards. The below chart, presented below in rolling annual terms, summarises the situation well, with approvals and commencements finally beginning to catch-up to [...]

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Highrise Harry to sell-out to Chinese?

April 17, 2014 - 08:05 -- Admin

By Leith van Onselen “Highrise Harry” Triguboff is reportedly considering selling Meriton Apartment’s development business to a Chinese developer, in a deal that would net him close to $3 billion. From The AFR: Triguboff told AFR Weekend he re­ceived an offer for his business on a trip to China two weeks ago from the owner [...]

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Melbourne’s rental market tightens

April 17, 2014 - 08:03 -- Admin

By Leith van Onselen SQM Research has released rental vacancies data for March, which revealed a 0.1% monthly fall in the national vacancy rate to 2.0%. Year on year, vacancies are also down 0.1%, bucking the trend for the first time in several months where we have witnessed a loosening of vacancies when compared to [...]

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Westpac sees rising inflation

April 17, 2014 - 08:02 -- Admin

Westpac has released its March quarter consumer price index (CPI) forecasts, with the bank seeing inflation edging-up to a headline 0.9% QoQ/3.2% YoY (from 0.8% QoQ/ 2.7% YoY) and an underlying 0.7% QoQ/ 2.8% YoY (from 0.9% QoQ/ 2.6% YoY): Our Q1 headline CPI forecast is 0.9%qtr/3.2%yr. Core inflation, as measured by the average of [...]

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