On Tuesday, the Australian Bureau of Statistics (ABS) released dwelling approvals data for March, which recorded an 8.8% monthly fall to 15,220 approvals. House approvals fell by 4.5% in March, while unit & apartment approvals fell by 15.1%. Annual approvals rose to 180,740, up 10% on the June 2024 low of 164,254. As illustrated below,
For tonight’s update, I’m going to first touch on the races I included in this morning’s post and how they have changed. Those are the seats that are conventional close races.
Then I will turn my focus to the seats where the two-candidate-preferred count has been recalibrated to a different pair of candidates. In these seats there has been some significant progress today towards resolving these seats.
I spent most of the election weekend down in Sydney, finishing a book in my hotel room and giving a talk at that architecture conference.
It went very well, thank you.
Both the talk—and, of course, the election.
It had been a while since I’d spent much time in the centre of Sydney. When I go down, I usually stay out at Bondi—my old hood. But I hadn’t been in the city proper for any serious stretch of time since the light rail went into George Street, and I was really surprised by how much of a difference it’s made to the CBD.
Like, completely transformed it.
I reported last week on the latest results from Realestate.co.nz, showing that the national average asking price of homes listed on the site declined for the second consecutive month in April to $851,746, down 3.8% from $884,995 in February. The decline in prices was attributed to a growing glut of homes listed for sale, which
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JKM LNG futures are still signalling gasmageddon for Australia later this year. Adjusted for an AUD at 70 cents, plus regasification costs, imported LNG will still be coming in at about $19Gj versus $12Gj today. The gas cartel will respond to LNG imports by restricting supply so that global prices become the marginal price setter.
The ferrous complex is still struggling. Forgive some of the delayed pricing on the chart. SGX is sitting around $96. The latest CISA output data looks more like 2022 than 2024. Though I have to caution that this series has broken down versus official output somewhat this year. The challenges remain. Goldman. The Chinese government’s
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