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Affordable houses have completely vanished from Sydney

October 19, 2017 - 00:20 -- Admin

By Leith van Onselen Last month, CoreLogic released its Mapping the Market report for the June quarter, which showed the almost complete disappearance of affordable houses across Sydney: Sydney Houses: In June 2012, 21.3% of Sydney suburbs had a median house value of more than $1 million, by June 2017 55.7% of suburbs had a

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Apartment oversupply pulls Brisbane’s housing market under

October 19, 2017 - 00:19 -- Admin

By Leith van Onselen Recent data on Brisbane’s housing market suggests that momentum has stalled from already sluggish levels amid an oversupply in apartment construction. Last week’s September quarter results from Domain (formerly Australian Property Monitors) revealed that while Brisbane houses have recovered to their March-2008 level in real inflation-adjusted terms, prices dipped 0.6% in

Canberra gets a taste of East Coast population ponzi

October 19, 2017 - 00:15 -- Admin

By Leith van Onselen I couldn’t help but laugh when I read the following report whinging about rapid unplanned population growth in Canberra’s Gungahlin region, to the city’s north. From The ABC: Gungahlin is one of Australia’s fastest-growing regions, but a leading planning expert says a “disastrous” lack of suitable infrastructure has left the burgeoning

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Turnbull energy plan flounders on the same old problem

October 19, 2017 - 00:14 -- Admin

Via the AFR: Federal Labor is open to a deal on energy policy, but has demanded more detail from the government on the new scheme and has indicated it may increase the emissions reduction target for the electricity sector should it win the next election. With the Turnbull government needing the support of both federal

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Asian LNG customers demand more discounts as we overpay

October 19, 2017 - 00:14 -- Admin

Via Reuters: After getting Qatar and Australia to lower gas price, India today pitched for flexible terms for LNG purchase including provision of pricing review, flexible take or pay and abolition of destination restriction clause. Speaking at the LNG Producer-Consumer Conference here, Oil Minister Dharmendra Pradhan said the global LNG market is undergoing a major

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Daily iron ore price update (Xi splat)

October 19, 2017 - 00:05 -- Admin

Iron ore price charts for October 18, 2017: Tianjin benchmark was unchanged at $61.70. Paper cracked overnight. Steel fell a little. Xi Jinping appears to have disappointed Dalian.  Reuters has texture: Market participants are also watching the Communist Party congress with President Xi Jinping saying China’s campaign against corruption has achieved “overwhelming momentum” as the

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UBS rings bell on Chinese property boom

October 19, 2017 - 00:05 -- Admin

Not news to MB readers but some nice texture from UBS: Buying intention & activity rose further on price optimism Both home buying activity and intensions gained momentum. Our latest survey showed that one in six respondents had purchased a home in the past 6 months, a notable increase from the same period a year

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Links 19 October 2017

October 19, 2017 - 00:01 -- Admin

Global Macro / Markets / Investing: When Doing Good Ends Badly for CEOs – WSJ Crypto venture firm Blockchain Capital is raising $150 million for two funds – CNBC Bernanke Adds Nuance to Independence Orthodoxy: Eco Pulse – Bloomberg Crypto Daytrippers – Bloomberg George Soros Transfers Billions to Open Society Foundations – NY Times If

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Burgess: Sell China the parliament to protect tourism

October 18, 2017 - 13:36 -- Admin

MB prodding appears to have tipped Rob Burgess over the edge on population: Pauline Hanson’s One Nation party continues to stoke fears that Australia is becoming “Asian-ised” (whatever that means), and Australian Conservative leader Cory Bernardi complains of the growing threat of “‘influencers’ bankrolled by the Chinese Communist Party”. The antidote to those scare-mongering views is that China’s

ASX charges higher as yields break lower

October 18, 2017 - 13:08 -- Admin

The ASX200 melt-up continues today: The key to it is still driving as bond yields fall away: Dalian has held its gains today: Big Iron is resting: Big Gas too: Big Gold no longer cares that gold is falling! Big Sleazy is mostly up: Big Liar too: So long as yields keep pricing out rate

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