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NZ housing costs outstrip income growth over past decade

October 19, 2017 - 14:10 -- Admin

By Leith van Onselen From Statistics New Zealand comes a new report showing how housing costs have outstripped income rises over the past decade, despite falling interest rates: Since 2007, average annual household income is up nearly $30,000 (42.0 percent), to reach $98,621 (before tax) in 2017. Over the same 10 years, average annual housing

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Chinese growth is hitting the kids

October 19, 2017 - 14:01 -- Admin

Chinese growth numbers are out for the September QTR and it was all bang on target with GDP at 6.8%: However, something much more interesting is happening under the bonnet. The September month partials were mixed but weak in the construction economy with industrial production at 6.6%, retails sales at 10.3% but fixed asset investment

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NSW light rail farce intensifies

October 19, 2017 - 13:30 -- Admin

By Leith van Onselen I noted yesterday how secret NSW Government documents were released late last year revealing that the Parramatta Light Rail Project – the centrepiece of the Government’s plans to cement Parramatta as Sydney’s second central business district, as well as facilitate the building thousands of apartments around Sydney Olympic Park – had

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SQM predicts ongoing house price boom

October 19, 2017 - 13:29 -- Admin

From Domain: Despite some of Australia’s heavyweight property markets – including Sydney – recording price declines, one expert is forecasting significant house price growth in 2018 across Australia. Melbourne’s property market is expected to climb between 7 to 12 per cent in 2018, while Sydney is anticipated to soar between 4 and 8 per cent next year, SQM Research

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HIA: mortgage affordability remains poor

October 19, 2017 - 12:59 -- Admin

From the HIA today comes news that mortgage affordability remains poor, despite a modest improvement in the September quarter: “Despite the poor levels of housing affordability there are signs of improvement for home-buyers, stated Tim Reardon, HIA’s Principal Economist. “The HIA Housing Affordability index for Australia improved by 0.5 per cent in the September 2017

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ABS employment in detail: Broad-based recovery continues

October 19, 2017 - 12:28 -- Admin

By Leith van Onselen As summarised earlier, the Australian Bureau of Statistics (ABS) today released its labour force report for September, which registered another 19,800 increase in total employment and a 0.1% decline in the headline unemployment rate to 5.6%. In trend terms, the unemployment rate fell marginally from 5.54% to 5.51% – the lowest

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ASX charge hits jobs brick wall

October 19, 2017 - 12:21 -- Admin

It was on again today with banks bid out the wazoo when, alas, the good jobs number arrived: The bid is dependent completely upon economic weakness and falling yields so more jobs sucks for banks, though they are still up on the day: There’s a good chance that the bid will resume, though, just so

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Australian jobs boomlet continues

October 19, 2017 - 11:35 -- Admin

ABS jobs for September are out and the boomlet continues: Employment increased 19,800 to 12,290,200. Full-time employment increased 6,100 to 8,398,200 and part-time employment increased 13,700 to 3,892,000. Unemployment decreased 11,800 to 711,500. The number of unemployed persons looking for full-time work decreased 10,600 to 487,100 and the number of unemployed persons only looking for part-time

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Pensioner Killer upgrades guidance

October 19, 2017 - 11:07 -- Admin

No doubt about it, domestic gas reservation is not strong enough if Santos can pump this out: Exporting losses while killing pensioners at home with a fat price gouge. Nice! ASX loves it:

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Xi Jinping just warned Australia on growth (for now)

October 19, 2017 - 10:49 -- Admin

From Karen Moley today: You had to listen closely, but Chinese President Xi Jinping provided two important clues as to the economic policies he will pursue in his second five-year term in the course of his epic three-and-a-half hour opening address to the Communist Party congress. The first clue was provided by what he didn’t say. Xi made no mention

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