Tim Lawless, Head of Research at CoreLogic, posted the following on LinkedIn regarding Brisbane’s property market: Boomin Brisbane! After auction clearance rates trended to record highs over the past few weeks, this week, Brisbane is set to host the largest number of auctions since December 2016… CoreLogic Australia indices are showing Brisbane is recording the
Ross Gittins has written an interesting article explaining how Australia’s housing market is rigged: The rules of the home-ownership game are rigged in favour of existing home owners. That’s because they far outnumber aspiring home owners. And they’re not willing to give up their tax and other privileges to help the younger generation. Except, of
The South Australian government’s COVID-19 reopening roadmap will allow fully vaccinated travellers from Victoria, New South Wales and the ACT to visit the state without having to quarantine from 23 November. Premier Steven Marshall says that 80% of SA residents aged 16+ are expected to be fully vaccinated by this date. However, SA has ruled
New research by the Committee for Sydney shows that 51% of employers expect their staff to work in the office for just three days per week in the post-pandemic environment. Some 36% of respondents anticipate that most staff will opt to work in the office in the middle of the week and continue to work
Peter Hurley from the Mitchell Institute at Victoria University has published interesting data on the collapse in international student numbers since the pandemic began: Since March 2020, the number of international student visa holders has fallen by 205,854, or 33.5%, according to the most recent government data. Complicating this picture is that many international students will
Australia’s Consumer Price Index (CPI) came in at 0.8% in the September quarter – in line with market expectations of a 0.8% rise: Annual CPI retraced to 3.0%, missing expectations of a 3.1% rise. This was down on the June quarter’s 3.8% CPI increase, which was driven by the ‘base effect’ (since CPI fell by
Morgan Stanley is still making the most sense on Wall Street with daylight second: Over the past few weeks we have discussed the increasing probability for a colder winter but a later start than previously expected. In other words, our Fire and Ice narrative remains very much intact, but timing is a bit more uncertain
Public health experts have questioned the need to lock unvaccinated people out of services once 90% of Victorians aged 12-plus are fully vaccinated. Premier Daniel Andrews has indicated people who aren’t vaccinated against COVID-19 may be barred from accessing all but the most basic services until 2023: “Whether it’s a bookshop, a shoe shop, a
The Chinese energy bubble continued to burst yesterday as coking coal futures were put to the sword again: Given the collapse in Chinese steel output, this was the craziest of the energy bubbles. Really, the only reason for its bid was some possible switching from thermal to coking coal in power consumption but that was
The Chinese property developer crisis still shows no signs of easing despite incremental efforts to fix it. Policymakers are applying the CCP jawbone: Chinese authorities told billionaire Hui Ka Yan to use his personal wealth to alleviate China Evergrande Group’s deepening debt crisis, according to people familiar with the matter. Beijing’s directive to the Evergrande
Victoria has recorded another 1534 new locally acquired COVID cases and 13 deaths: By comparison, NSW recorded 304 locally acquired COVID cases and three deaths: The next chart plots daily cases across both states: The next chart plots active cases across both jurisdictions: According to COVIDBaseAU, 1.84% of tests in Victoria came back positive over
The ferrous complex was strong on October 26, 2021 as spot lifted, paper firmed overnight and steel bounced: We appear to be range trading for now though steel not falling helped. But how long can that last as coking is eviscerated, limit down to all new lows overnight: Another interesting coking coal distortion has emerged:
Last night saw equity markets twitch moods with European bourses surging while Wall Street treaded water in the wake of more tech earnings, and while the latter did put in new nominal highs, its was literally only a handful of points. The USD remained strong against Euro and Pound Sterling while commodity currencies were a
DXY was firm again last night as EUR fell: The UAD had another strong night on today’s inflation print. A big yawn for me: Oil and gold fell: Base metals too on signs China is lifting metals processing output: Big miners fell as well: EM stocks have stalled: Junk bounced: But the Treasury curve looks
Does PM Morrison not see that we can see? Or are his instincts for today’s tribal politics spot on and he knows all that he needs is a fig leaf for followers to hide behind? The Crikey wrap is succinct: Prime Minister Scott Morrison’s long-awaited climate plan, called “The Australian Way”, has no detail and no modelling
For years we have watched The Guardian defend Australia’s mass immigration program, arguing that immigration doesn’t suppress wages and doesn’t strain infrastructure, among other things. The Guardian’s economic poster boy, Greg Jericho, has also likened any criticism of Australia’s immigration program to “racism” and “dog whistling”: “Immigration – because there are many desperate to hate
CoreLogic has released its Quarterly Rental Review, which reveals that rents are rising at their fastest pace since the Global Financial Crisis hit in 2008: Growth in rental rates has eased slightly, with the national rental index rising by 1.9% over the September quarter compared to a 2.1% rise over the June quarter. While we
Global Macro / Markets / Investing: Is College Worth It? A Comprehensive Return on Investment Analysis – Freopp Asia-Pacific stocks mixed as HSBC earnings beat expectations; oil prices rise – CNBC Empirically grounded technology forecasts and the energy transition – Inet Inflation in the 21st Century: Taking Down the Inflationary Straw Man of the 1970s
Asian stock markets are mixed again with Japanese markets surging, Chinese markets retracing and Australian markets doing 2/5ths of nothing. The USD is remaining relatively strong although the Aussie and Kiwi are coming back as the Euro remains flat while gold is holding above the $1800USD per ounce level. Meanwhile Bitcoin is teetering just above
Victorian Premier Dan Andrews has warned reigning Australian Open champion Novak Djokovic that he won’t be allowed into Melbourne to contest the 2022 tournament unless he is fully vaccinated against COVID: The appearance of the world No.1 at the Australian Open looks certain to rely on him being fully vaccinated after Victorian Premier Daniel Andrews
Last week, the New Zealand Government announced a major building densification law change that will see up to 105,500 extra homes built over the next 5-8 years across New Zealand: The Government, with the support of National, is proposing to urgently change the Resource Management Act (RMA) to enable more houses to be built in
Hot on the heels of Crispin Hull’s comprehensive weekend demolition of Australia’s cabal of mass immigration charlatans, which have shamelessly captured Australia’s political system, Judith Sloan has entered the fold delivering a similar rebuke: Of all the public policy areas in which the views of ordinary folk are continuously trampled by the preferences of the
The fleecing of taxpayers by senior executives of Australia’s government agencies and authorities has well and truly jumped the shark. As reported in The AFR today, executives working for Australia Post and NBN Co were paid bonuses of $295.9 million in the 2020 and 2021 financial years, according to their latest annual reports. The revelation
September 2021 Australian property market affordability update Australian property market prices continued to climb over the last month, with the past six months seeing some of the strongest growth on record. Mortgage fixed interest rates rose slightly, standard variable rates fell slightly but remain significantly above fixed rates. There are some extraordinary divergences in affordability.
Nordea with a snippet: One likely underappreciated driver of so-called supply chain issues stem from demand-side issues. The initial shock from the pandemic depressed demand both for goods and services. However, already by June 2020 US goods consumption had surged way above trend. If you can’t consume services as you’re locked into your apartment –
Sly ScoMo is at it again. While we’ve all been subjected to the great pantomime of the Nats playing climate outrider to burnish the appearance of ScoMo’s climate credentials, the truth behind the scenes is leaked to the BBC: A huge leak of documents seen by BBC News shows how countries are trying to change
Not much change from the smartest guys in the room this week. BofA remains committed to its stagflation blowoff and bust thesis: The Tale of the Tape: liquidity @ record high, bitcoin @ record high, stocks @ record high, labor market quits [email protected] record high, wage growth plans @ record high (Chart2)…bond allocations @ record
A new study by IDP Connect reveals how the primary motivation for Indian students to study in Australia is to gain permanent residency and work rights: IDP Connect’s New Horizons research shows international students consider migration incentives and employment opportunities when choosing where, what and how to study. “We’ve seen a significant decrease in interest from Indian students looking to
From Roy Morgan Research: This month, October 2021, Roy Morgan Business Confidence increased 10.7pts (+10.2%) to 115.3. This is the biggest increase in Business Confidence so far during 2021 and comes as long-running lockdowns have ended in Greater Sydney, Greater Melbourne and the ACT. Business Confidence is a significant 16.6pts (+16.8%) higher than a year
Victoria has recorded 1510 new locally acquired COVID cases and four deaths: By contrast, NSW has recorded 282 locally acquired cases and one death: The next chart plots daily cases across both jurisdictions: Active cases are shown below: Victoria’s positive test rate remains high at 2.71%, according to COVIDBaseAU: However, in good news, Victoria’s Reff
