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Long-term migrant arrivals hit another all-time high

January 18, 2019 - 12:00 -- Admin

By Leith van Onselen The Australian Bureau of Statistics (ABS) has released visitor arrivals and departures data for the month of November, which again posted turbo-charged net annual permanent and long-term arrivals. In the year to November 2018, there were 828,980 permanent and long-term arrivals into Australia – up 7% from November 2017 and an

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Ray Dalio: capitalism isn’t working

January 18, 2019 - 11:40 -- Admin

by Chris Becker It’s always interesting to hear mega-capitalists complain about the very system that provides them opportunity to turn their talents into Scrooge McDuck size piles of cash. Furthermore, it’s usually the most successful that have the most liberal of views and Ray Dalio, head of hedge fund Bridgewater, has weighed in again. From CNBC:

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HIA: New home sales dive to lowest level since 2012

January 18, 2019 - 11:24 -- Admin

More housing weakness, from the HIA: “HIA New Home Sales continued the declining trend that we saw throughout most of 2018,” said Geordan Murray, HIA Senior Economist. “The HIA New Home Sales Report shows detached house sales fell by 6.7 per cent in the final month of 2018. “Sales during the final quarter of 2018

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Coalition doubles down on negative gearing rent lies

January 18, 2019 - 11:20 -- Admin

By Leith van Onselen Earlier this week, the Coalition announced plans to target 270,000 young renters in Australia’s 25 most marginal seats in the lead-up to the next election, believing that Labor’s plans to curb negative gearing could prove a vote winner for the federal government. In No surprise then to read that Capricornia MP,

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Adelaide Uni dumbs down standards to chase foreign student dollar

January 18, 2019 - 11:00 -- Admin

By Leith van Onselen Adelaide University’s vice chancellor, Peter Rathjen, says he is aggressively targeting growth in foreign student numbers, vowing to grow international student numbers to more than 10,000 in 2019. From Adelaide Now: Under vice-chancellor Peter Rathjen, Adelaide University says it is aggressively targeting growth, mainly to be a more “global” institution. Adelaide projects

BIS: Residential construction to dive by 15%

January 18, 2019 - 10:40 -- Admin

By Leith van Onselen BIS Oxford Economics expects residential construction activity to decline by 1% in 2018-19, followed by a 14% decline in 2019-20. Construction activity is tipped to fall by 19% in New South Wales over the next two years and by 17% in Victoria. From The AFR: According to a report from BIS

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Sydney landlords get desperate

January 18, 2019 - 10:20 -- Admin

By Leith van Onselen Earlier this week, SQM Research released its December rental vacancy and asking rent series, which showed Sydney’s rental vacancy rate had rocketed to a series high 3.6%, with nearly 8,000 more rental properties on offer (25,177) than at the same time in 2017 (17,404): At the same time, Sydney asking rents

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Australian dollar spikes on US China trade talks

January 18, 2019 - 09:55 -- Admin

by Chris Becker Some strikingly weird moves in the Australian dollar late in the overnight session with a big spike through the 72 handle vs USD  – over 50 pips or half a cent – before a pullback in the early hours this morning before the Sydney open. What’s that all about? One can usually

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Australia needs a royal commission into high-rise construction

January 18, 2019 - 09:30 -- Admin

By Leith van Onselen The handwringing and panic about the build quality of Australia’s high-rise buildings continues with the men behind the company BlockAid claiming that building faults are widespread and at risk of cracking or collapsing in a scenario manner to Sydney’s 34-storey Opal Tower. From The Newcastle Herald: Craig Thorley and Chris Rafferty believe

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Daily iron ore price update (Rio ups production)

January 18, 2019 - 09:15 -- Admin

by Chris Becker Spot iron ore prices fell slightly yesterday while the short and medium term futures edged higher alongside rebar and coking prices: Meanwhile Rio Tinto is out with a production update. Via AAP: Mining giant Rio Tinto shipped 338.2 million tonnes of iron ore from its Pilbara operations in 2018, in line with

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