Via Martin North:
The results from our latest household surveys reveals that despite the return to work as the lock down is eased, the reduction in JobSeeker, JobKeeper and the need to renew mortgage payments are all offsetting the better job news, in a low income growth, high cost environment.
We also updated our property and finance scenarios to take account of the RBA announcements yesterday. There is still a path for higher property prices ahead, but this is not out central scenario over the next 2-3 years. Handling the virus will be a critical issue ahead.