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Moody’s: No house price recovery until 2021

June 24, 2019 - 13:15 -- Admin

Via Moody’s: Second-Quarter 2019 Housing Forecast Report The May CoreLogic Hedonic Home Value Index results show the national housing market continuing its correction, led by Sydney and Melbourne. The national index for home values has fallen for almost two years. The decline has been sharper in house values compared with apartment values; house values have

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Labor to support stages 1&2 of tax cuts

June 24, 2019 - 13:15 -- Admin

Via Albo: What we have determined this morning to do is to propose a negotiating position to the Government which would bring forward tax cuts faster for those who need it and importantly those who will spend it to stimulate demand in the economy.” We have determined the following position: Stage one – of course,

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Lunatic RBA blasts Australian dollar higher

June 24, 2019 - 13:00 -- Admin

It’s been like a warm blanket settling over markets for the past few weeks as the Lunatic RBA finally began to talk down the AUD. But it’s back to regular programming today as Phil Lowe ripped it off with a icy blast that questioned the usefulness of global easing: Lowe said the accomodative monetary policy would

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RBA recommends you buy shares

June 24, 2019 - 12:45 -- Admin

Via Damien Boey at Credit Suisse: The RBA has just released a paper about the history of the Australian equities. It contains some very useful and unique historical data on the Australian market. For context, earnings, dividends and total returns data for the Australian market has been quite sparse, and of questionable quality going back in

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CBA: Australian economy now a ward of the state

June 24, 2019 - 12:12 -- Admin

Via Gareth Aird of CBA comes a note to shake the towers of the great: Overview Economic growth has slowed in Australia. But looking at the economy from a public/private sector perspective shows a marked difference in what has been occurring. Government demand has been strong while private demand has been weak (chart 1). In

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Retailers blame plastic bag ban for sales slump

June 24, 2019 - 11:45 -- Admin

Federal Treasury conducted a business liaison program in February and March, the findings of which were used to inform the Budget. A number of submissions to the program claimed that bans on plastic bags were hurting the $320 billion retail sector, as shoppers were less able to carry large amounts of groceries to their car

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Productivity Commission: Dump stamp duties for land taxes

June 24, 2019 - 11:30 -- Admin

Former Productivity Commission chairman Peter Harris says the federal government should consider adopting key recommendations in the ‘Shifting The Dial’ report, which the Commission released in 2017. In particular, he has called for state governments to phase out stamp duties on property transactions in favour of a land tax, arguing that this would help to

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NSW Government plans slum future for Sydney

June 24, 2019 - 11:15 -- Admin

The NSW Government wants to accelerate approvals for higher density developments across Sydney’s ‘missing middle’ suburbs by making it easy to subdivide blocks. Specifically, the government wants to give developers the ability to build without lodging a development application and without having to notify neighbours. From The ABC: Sydney’s population is expected to swell to

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Santos lies again

June 24, 2019 - 11:00 -- Admin

Last week I noted the campaign to get Santos’ Narrabri gas project off the ground owing to its importance as a foil for the Centre Alliance push for gas reservation and, by extension, the ScoMo’s Government’s tax cuts. The AFR declared the project all but approved: Encouraging indications that the Narrabri gas project will go

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