Westpac with the note. • Leading Index has moved into positive territory, from –0.20% in September to +0.26% in October. • This provides a tentative signal that growth momentum is set to improve from its current nadir. • Improvements mostly centred on components related to consumer sentiment and commodity prices. Hardly tearing it up.
Two charts tell the story of the bare-knuckled fight between the RBA and the Albanese government. In the blue corner is the RBA which won’t cut rates because trimmed mean inflation is too high at 3.5%. In the red corner is the Albanese government which has used energy rebates to lower headline inflation to 2.8%
The Coalition is under scrutiny for joining forces with the Greens to block legislation to cap new international student numbers from 2025. Education Minister Jason Clare says Opposition leader Peter Dutton has no credibility regarding immigration, given that he stated in his budget reply speech in May that a Coalition government would introduce a cap
Nothing special about this property easing. Leading index flatlined. Top tiers OK. Ghost cities fading. Inventory better. Completions ending the yer better too. A long way from out of the woods.
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The Australian dream of home ownership is fading for younger Australians. The 2023 Intergenerational Report illustrated the sharp structural decline in home ownership rates among younger Australians, following decades of strong price growth and stagnating incomes. The above chart is based on 2021 Census data, and the housing affordability picture facing younger Australians has deteriorated
Last financial year, a record 3,000 construction firms in Australia were declared bankrupt (insolvent). At the end of the financial year, Gayle Dickerson from KPMG warned that insolvencies probably had not peaked. “We haven’t hit the peak yet and how long until we do remains a question, which will be driven by broad economic circumstances”,
The red earth, Newlyn, Victoria AUD/USD EUR/USD USD/JPY GBP/USD Gold WTI Brent Australia 200 US S&P 500 UK 100 Japan 225 Easy Listening
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Earlier this month, Accent Research released a survey showing that only 15% of respondents believed that younger Australians could purchase a home without financial assistance. The results followed an analysis from Money.com.au showing that homebuyers need to save a deposit of nearly $200,000 to purchase an average-priced home with lenders’ mortgage insurance. A separate analysis from
This is Australia. Via CBA. Australians are freeing up more of their wallet for discretionary purchases with a focus on value and convenience, according to the latest CommBank iQ Cost of Living Insights analysis. Overall spending continues to trail inflation, up by just 1.5 per cent compared to the same time last year. Young Australians
The Albanese government’s Help-to-Buy shared equity scheme has been stuck in the Senate since February. Under the scheme, the federal government would provide 10,000 eligible participants with 40% of the purchase price of a new home and 30% for existing homes per year. To qualify for the scheme, participants must have a minimum deposit of