CoreLogic has released its daily dwelling values index to 30 November, which shows that values rose by 0.6% at the 5-city aggregate level, driven by strong growth across Brisbane (1.2%), Adelaide (1.2%) and Perth (1.9%): By contrast, values actually fell across Melbourne (-0.1%), whereas Sydney values rose by only 0.3%. The next chart, which plots
Following nine years of financial incompetence from the Andrews Labor Government, Victoria is drowning in debt with the nation’s lowest credit rating: Victoria has the nation’s largest state debt (Source: Alex Joiner). Saul Eslake, an independent economist, asserts that Victoria’s mounting debt is attributable to the government’s decision to “embark on very big, largely debt-funded
Simon Kuestenmacher from The Demographics Group believes that Australia’s population will double in size in just over 50 years, based on the ABS’ latest population projections: “The most bearish scenario sees our population doubling by 2129, the median scenario by 2095, and the most bullish scenario sees Australia at 52 million people by 2074. I
Global energy deflation is building. LNG is abundant in Europe: Prices are breaking down: US prices are following: Asian prices are breaking down: A cold northern winter could arrest this for a short time, but the underlying gas glut will otherwise express itself. And tip into coal: Australian gas prices are also down: Again crashing
Following the 0.4% fall in the ABS monthly inflation indicator for October, CBA economist Stephen Wu believes there is a good chance that Australia’s CPI inflation could fall below 4% by the end of this year. Wu noted that the 0.4% fall in seasonally adjusted consumer prices was “the largest monthly decline in prices since
So says BMI: Seaborne iron ore prices are set to climb to as much as $150 per ton in the first half of 2024, according to analysts who have lifted their estimates on expectations of increased demand in China after recent stimulus measures. …Prices have already defied expectations in 2023 due to stronger-than-expected Chinese steel
Bond yields fell back again but the USD finally found some life overnight on the back of upwardly revised 3Q GDP data while a slower than expected German CPI print was a headwind for Euro. Wall Street again had the wobbles while the Australian dollar pulled back to the 66 handle. US bond markets saw
Data from CoreLogic shows that house prices in Melbourne have fallen by 0.1% so far in November, after rising by 0.5% at the start of the month, following the Reserve Bank of Australia’s 0.25% rate hike on Melbourne Cup Day: Meanwhile, growth in Sydney house prices slowed to 0.2% over the first 28 days of
By Harry Ottley, economist at CBA: Key Points: Construction work done increased by 1.3%/qtr in Q3 23. The Q2 23 figures were revised up significantly, from +0.4% to +2.0%. Building construction rose by 0.2% led higher by residential construction which rose by 1.3%. Engineering construction rose by a large 2.6%/qtr to be 14.9% higher through
The latest quarterly CPI inflation data from the Australian Bureau of Statistics (ABS) showed that goods inflation was falling fast, helping to bring down the overall inflation rate: The good news is that more goods disinflation looks to be on the way to Australia, as illustrated by the next chart from Justin Fabo from Macquarie