Australian Property

NAB’s Q4 Residential Property Survey has been released with the bank tipping a peak-to-trough decline in Australian capital city dwelling values of around 19%.

The International Monetary Fund’s (IMF) annual review of Australia has proposed an overhaul of the nation’s tax system in order to make it fairer.

For years, experts have raised concerns over a class of Australian visa that has operated for 10 years without rejections. Over 7,000 Chinese citizens have been approved for the Significant Investor Visa (SIV) scheme, which requires a minimum investment of $5 million.

Education Minister Jason Clare has celebrated the Chinese Government’s directive that it will no longer recognise foreign academic degrees and diplomas if the study was conducted online.

Westapc’s Red Book is illustrating deeply depressed property sentiment.

CBA’s head of Australian economics, Gareth Aird, explains below why Australian dwelling values will fall another 6%, assuming the Reserve Bank of Australia (RBA) only hikes the cash rate one more time by 0.25% next week.

The number of companies in the construction sector that have appointed external administrators so far in 2022-23 is nearly 90% higher than the previous corresponding period, according to data from the Australian Securities & Investments Commission (ASIC).

The latest immigration data shows that net overseas migration (NOM) has rocketed back, and has already exceeded the NOM forecasts in the October federal budget: The Australian Bureau of Statistics’ (ABS) latest data breaking down the contributors to Australia’s NOM in the 2021-22 financial year showed that international students are behind this resurgence.

The most interesting observation from this month’s house price declines is that the property correction appears to have finally spread beyond the big three capital cities of Sydney, Melbourne and Brisbane to Adelaide and Perth.

Jeremy Grantham of GMO.

This article was first published at News.com.

Having cheered on the resumption of mass immigration against all of the evidence that it is very negative for low-income households, the useful idiots of the left are now entering the predictable second phase of the cycle: pretending to care about the fallout from their stupidity.