The AFR warns that Victoria has little chance of meeting its target set by former Premier Dan Andrews to build 800,000 new homes over the decade. “A total of 51,045 new dwellings approved in Victoria for 2023, according to the ABS, the lowest in 10 years, and down from 62,281 in 2022 and nearly 71,000
Westpac chief economist, Luci Ellis, told The AFR that Australia’s economy may have contracted in the December quarter despite historically high net overseas migration. While Westpac expects that the economy grew by 0.2% in the three months to December, Ellis said that she “couldn’t rule out the initial [GDP growth] print being negative”. A negative
The Market Ear with the absurdity of money. To the moon Bitcoin RSI at 88. We have not seen RSI this overbought AND bitcoin trading at these absolute levels, ever. Chasing it here looks like a very late trade. Refinitiv Leaving the 200 day moving average behind BTC is trading some 70% above the 200
PropTrack has released its dwelling value results for February, with values nationally rising by 0.45% over the month to be 6.15% higher year-on-year: Combined capital city values rose by 0.48% in February, whereas values rose by 0.36% across the combined regions. In the year to February, the combined capital cities recorded a 7.06% increase in
Honestly, they’re like Daleks, these official economists: A surge in employment combined with scant investment by firms to improve output triggered a sharp drop in worker productivity, limiting prospects for income growth without fanning inflation, the Productivity Commission said in its annual report. Across the economy, productivity fell 3.7% in 2022-23, as output growth failed
Lol: Australia and the Philippines will deepen maritime co-operation, including security for civilian shipping and surveillance, as President Ferdinand Marcos jnr warns his country is on the front line of Chinese efforts that threaten regional peace. In a forthright address to federal parliament, Mr Marcos repeated his vow the Philippines would not surrender a square
I assume this pantomime serves the purpose of creating an atmosphere of fear among existing pollies: A former politician labelled a traitor by ASIO director-general Mike Burgess is “no longer a security concern”, the spy chief declared as he refused to identify the person and a raft of ex-MPs demanded their names be cleared. As
The latest US core inflation print came in slightly lower than expected and combined with some dovish Fed comments gave Wall Street a leg up which should push the equity complex higher here in Asia to finish the trading week on a good note. The USD rose eventually amid some volatility around the print while
Rebar and SGX futures cannot catch a bid: Early next week is the “Two Sessions” in Beijing with markets expecting a 5%ish growth target. It will need to pack more punches than just that number to lift iron ore. Assuming a 2024 CPI and GDP deflator of a marginally improved -1%, 4% real growth with
CoreLogic reported that Australian rental growth re-accelerated in February, with the monthly rate of change rising to 0.9%, the highest reading since March last year. This re-acceleration also saw the rolling quarterly change in rents rise to 2.4%, the highest since May last year. As shown above, Perth leads rental growth across both houses and