The Albanese government has set a five-year goal of building 1.2 million homes, commencing on July 1 of this year. To reach this goal, Australia needs to build 60,000 homes per quarter, or 240,000 dwellings every year for five years in a row. The following chart compares Labor’s housing target with Australia’s historical dwelling completions:
By Stephen Saunders Albanese’s population and environment policies riff on UN policy. His Made in Australia launch seems to propose a similar template for industry. For an arid continent in the far south seas, it’s a staggering policy distortion. There were probably one million migrants, net, in two years of government. This is about 350,000
DXY is fading again: AUD firmed gain: JPY shorts are getting squeezed: The oil headfake is over: Taking down metals: Miners eked out gins with stocks: EM is poised for breakout: Junk is stabilising: Yields rolled”: Giving life to stocks: A sequence of events has taken the wind out of the “no landing” panic sails
US markets rebounded on late tech earnings and an expected lift in factory orders, with European shares returning from their mid week holiday under the fear that a June ECB rate cut may not be on the cards. The USD remains somewhat muted with Euro and Pound Sterling lifting overnight while the recent interventions in
The PBOC first quarter survey is a doozy. Below is a summary of the main conclusions I drew from the surveys. According to PBOC bankers’ poll, loan demand increased in the first quarter, and banks anticipate more supportive monetary policy in the following one. The Q1 2024 business conditions worsened, according to a study of
Rental inflation remained hot across the major capital city markets, according to SQM Research’s latest asking rents series: This surge in rents comes amid the sharp decline in rental vacancy rates following record net overseas migration: Research from CBA shows that rental inflation correlates directly with the ratio of population increase to apartment construction: So
The Reserve Bank of Australia (RBA) may have increased official interest rates by less than other advanced nations: However, this hasn’t stopped Australian households from experiencing one of the sharpest increases in mortgage repayments in the world: Australian households have seen their principal and interest debt repayments soar over the past two years: Only Norwegian
With the FOMC meeting absorbed without much fanfare overnight, equity volatility was limited in today’s session here in Asia with closed Chinese markets helping smooth out the wobbles on Wall Street overnight. The lack of change in the Federal Reserve direction on interest rates still saw a reversal in USD with all the majors lifting
The Albanese government’s fairy-tale target of building 1.2 million homes over five years, or 60,000 homes per quarter, keeps getting crushed. Dwelling approvals data for March, released on Thursday by the Australian Bureau of Statistics (ABS), revealed that dwelling approvals fell by another 1.1% in March in trend terms to their lowest monthly level since
The Queensland Government has announced a $1000 energy bill discount under a $2.5 billion government package to ease the cost of living relief. Premier Steven Miles said it was the biggest contribution a state has ever made to help households with their energy bills. The rebate will apply to bills from July, with many Queenslanders