The Albanese government’s Housing Accord, signed with the states at National Cabinet in 2023, set a target to build 1.2 million homes over the five years from FY2025 to FY2029. This target requires 240,000 homes to be built annually. The Australian Bureau of Statistics (ABS) last week released dwelling construction data for the June quarter
By Lucinda Jerogin, Associate Economist at CBA The unemployment rate ticked up to 4.5% in September. The Minutes from the September RBA Monetary Policy Board Meeting and several RBA speeches this week reinforced the more hawkish tone struck in the Statement and accompanying press conference. The CommBank Household Spending Insights Index recorded its seventh consecutive
DXY fell away. This time AUD enjoyed relief. CNY resumed the plod higher. Oil is in trouble. Gold finally popped. Metals too. And miners. EM at the highs. Junk still worried. The bond rally paused. Stocks lifted a bit. Trump eased the rhetoric on China. As usual, the loon is predictable only in the unpredictability
International Reading: 24% of Republicans think the economy is deteriorating, compared with 60% of independents and 67% of Democrats. – The Guardian Tariff costs to companies this year to hit $1.2 trillion, with consumers taking most of the hit, S&P says – CNBC Trump’s Big Brag About The Economy Crushed By Brutal New Poll –
A sea of red across Asian share markets in the last session of the trading week in response to the slip on Wall Street overnight, largely due to overstretched financials as they try to absorb the folly of the Trump regime’s tariff campaign. Meanwhile the USD continues to fall against almost everything else with Euro breaking
Earlier this month, I reported that investor demand appears to be surging, helping to drive up home prices. As illustrated below by Justin Fabo from Antipodean Macro, investor housing credit growth has rocketed, up 9.1% annually in August, the highest rate in a decade. Google searches for “investment property” likewise surged to their highest level
As we know, Albo is the Manchurian Candidate, fed by Sinophiles in his party to the point of nausea. Let’s recall what the G7 did when China attacked Australia unilaterally. The U.S. and its allies are grappling with how to pare their economic relationships with China, attempting to limit ties in certain sectors they view
This week, I was interviewed by Steve Austin at ABC Radio Brisbane, where I was quizzed on why policymakers continually implement self-defeating policies that make housing more expensive. Austin’s query followed this month’s introduction of the Albanese government’s 5% deposit scheme for first home buyers, which already seems to have lifted demand and pushed home
It was never a boom in the traditional sense. It was a fiscal stimulus into bedpan jobs, and it has ended. Owing to a far too slow RBA, the private sector is not well-positioned to pick up the slack. The NAB business survey is still consistent with weak hiring intentions. More from Goldman. Today’s update
There is no substitute for sanctimonious greed. A top-20 shareholder in Santos has raised questions about the oil and gas producer’s strategy and called for it to focus on delivering value to investors, just as the gas giant was forced to cut production guidance because of an eleventh-hour hitch at its biggest growth project. HESTA