More yawnulus please. Sales pancaked. Inventory a bit better. Completions down, down. It really doesn’t matter how much floor area developers sell, the enormous shadow inventory or unsold, empty, furloughed, half-built, half-dug apartments won’t run out for another 10k years. Iron ore demand to keep falling.
The post Chinese property abandons ship appeared first on MacroBusiness.
The May federal budget forecast that Australia’s population would grow by 1.25% on average over the four-year forward estimates, with the nation projected to add 1.4 million residents in the four years to 2029: In the four years to 2028-29, Victoria’s population is projected to grow by 1.46% annually, adding 426,000. The Victorian government’s latest
The ferrous complex is going over a cliff of some sort led by steel. Iron ore will inevitably follow. The question is why and how far? It is right about now we would expect the initial round of tariff wars to making its way upstream in a demand deficit bubble. As well, property continues to
The post Iron ore into the abyss appeared first on MacroBusiness.
Blah, blah. blah. The Australian. Australia is falling behind global rivals in attracting investment in gas exploration and production, a new report from global consultancy Wood Mackenzie has found, a trend that risks undermining the nation’s energy security and stalling the transition away from coal. The report, Australia’s Natural Gas Investment Competitiveness, commissioned by industry
The Q1 quarterly inflation release from the Australian Bureau of Statistics (ABS) revealed that annual trimmed mean inflation declined to 2.9%, to be within the Reserve Bank of Australia’s (RBA) 2% to 3% inflation target. On a six-month annualised basis, trimmed mean inflation fell to around 2.5%. On Tuesday, the ABS released its monthly CPI
The federal government launched a new skills visa in December, with the aim of attracting migrants who can make a significant contribution to the economy and fill roles where no Australian workers are available. However, migration agents claim that processing times for the new visa are too long, hampering the ability of employers to recruit
The typical Australian mortgage holder has experienced a massive rise in mortgage payments following the Reserve Bank of Australia’s (RBA) monetary tightening cycle, beginning in May 2022. As illustrated by the following chart from Westpac, the average minimum mortgage repayment in Australia rose from around $1,800 before the first rate hike to a peak of
You need US dollars to buy US assets. AUD rejected! Lead boots were made for walking. Three black crows for gold. Oil bust. Metals meh. Mining meh. EM meh. Junk sees sunny uplands ahead. Yields are helping now. Thank Saudi. Stocks to the moon! The AUD has turned into the world’s first Costanza coin. It
The post Australian dollar turns Costanza coin appeared first on MacroBusiness.
The Australian Energy Regulator (AER) announced this week an increase in electricity prices for households with standing offer plans. Electricity customers in NSW face the biggest increase in default market offer prices from 1 July, with power bills across the state to rise by between 6.1% and 9.1%. AER chair Clare Savage says that while
