Unconventional Economist

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also Chief Economist and co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.

Every month, Australia’s housing shortage worsens

The Australian Bureau of Statistics (ABS) released housing approvals data for September, which recorded 16,360 trend approvals, a 0.9% increase from August. It was the strongest trend monthly approvals since February 2022. Even so, approvals in September were 3,640 (18%) behind the National Housing Accord’s five-year target of building 20,000 homes per month.

Australia’s housing bubble is really a land bubble

Last week, I reported on the latest annual national accounts from the Australian Bureau of Statistics (ABS), which showed that the total value of residential land in Australia increased by 7.0% during the 2024-25 financial year to a record $8.3 trillion.

RBA flags one more rate cut

Following last week’s CPI inflation shocker, financial markets abandoned hopes of further rate cuts. As expected, the Reserve Bank of Australia (RBA) chose to hold the official cash rate steady at 3.60%, with its commentary turning hawkish.

More bad news for Aussie inflation

Last week, the Australian Bureau of Statistics (ABS) reported that the policy-relevant trimmed mean inflation surged by 1.0% in the September quarter to be 3.0% higher year-on-year—the top of the Reserve Bank of Australia’s (RBA) target band.

Alan Kohler busts migration myths

Alan Kohler is one of the few ABC journalists willing to openly and honestly discuss Australia’s immigration system, which is the fundamental driver of the nation’s world-beating population growth.

Bureaucratic bloat punches hole in federal budget

Budget watcher Chris Richardson says that public service wage pressures are exceeding budget forecasts.

Australian workers brace for higher unemployment

Australia’s official unemployment rate was 4.5% in September, the highest reading since November 2021 and significantly above the Reserve Bank’s forecast contained in its August Statement of Monetary Policy.

Australia has a severe tradie shortage

Last month, Build Skills Australia released a report warning that there are not enough tradespeople to meet Labor’s target of building 240,000 homes per year, which was tracking 65,970 (27%) behind in 2024-25.

New Zealand turns migration ‘stepping stone’ to Australia

Under a series of agreements reached between the Australian and New Zealand governments, Kiwis can relocate to Australia and reside there indefinitely using the Special Category Visa (SCV).

Aussie households close their wallets

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