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.

Why aren’t dwelling approvals converting into completions?

The latest dwelling completions data from the Australian Bureau of Statistics (ABS) showed that only 173,400 homes were built in the year to March 2026, 66,600 (28%) fewer than the 240,000 annual run rate required to meet the National Housing Accord’s target of building 1.2 million homes over five years.

Net overseas migration may finally fall below 300,000

The Department of Home Affairs (DHA) has released temporary visa data for the June quarter of 2026, presented below as a rolling four-quarter moving average to remove seasonality.

Australian Treasury runs interference on the economy

Former senior Australian Treasury official David Pearl gave a fantastic interview on the John Anderson podcast where, among other things, he highlighted the decline in the Treasury, which he claims has become overly ideological and politicised.

House price falls broaden and accelerate in July

Cotality’s daily dwelling values index shows that values at the 5-city aggregate level declined by 0.9% in July, with losses recorded across all major capital cities except for Perth. Sydney (-1.4%) and Melbourne (-1.2%) once again led the declines.

Won’t somebody think of the poor Australian renters?

Maiy Azize, Deputy Director of Anglicare Australia, has posted a strawman article at The Point (The Australia Institute’s new propaganda outlet), arguing that it is “wrong” to blame migrants for the nation’s housing crisis.

Sydney home prices are crashing

July has seen Sydney’s house price downturn steepen, with Cotality reporting a 0.5% decline in values over the past seven days.

Surging construction costs a housing supply risk

Australia’s dwelling construction is already running well behind the Albanese government’s 1.2 million five-year target, as set out in the National Housing Accord.

The magical NDIS money tree

Opening Statement to the Senate Productivity Inquiry

On Wednesday, I presented expert evidence to the Senate Select Committee on Productivity in Australia.

Have Victorians finally woken up?

For years, I watched in despair as my fellow Victorians displayed acute Stockholm Syndrome regarding the state Labor government.

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