This week, I was interviewed by Andrew Bolt from Sky News on the latest housing forecasts from the federal government’s advisory body, the National Housing Supply and Affordability Council (NHSAC). Edited transcript Andrew Bolt: The government’s National Housing Supply and Affordability Council (NHSAC) has put out its annual report, the State of the Housing System,
A slight exaggeration perhaps, but certainly looser than the always wrong RBA would have you think. Via Goldman. A key uncertainty in Australia’s monetary policy outlook is whether the labour market is still operating above full employment and therefore a source of inflationary pressures. In our view, the labour market has arrived at a ‘sweet
DXY wobbling all over. AUD is stuck but still in a rising channel. Lead boots are a little lighter. Oil and gold becalmed. Metals no bueno. Mining big bear. EM meh. Junk OK. Have yields rolled over? Liberating stocks? The EUR, and its supposed fiscal underpinnings, is a big story about AUD strength. Credit Agricole.
Via the ABS. Key statistics The April 2025 seasonally adjusted estimate: Total dwellings approved fell 5.7%, to 14,633. Private sector dwellings excluding houses fell 19.0%, to 4,999, while private sector houses rose 3.1%, to 9,349. The value of total residential building fell 1.3%, to $8.91b. The value of non-residential building rose 14.7%, to $7.91b. Oh
Via the ABS. Key statistics The April 2025 seasonally adjusted estimate: Fell 0.1% month-on-month. Rose 3.8% compared with April 2024. Pretty much straight down since the February sales pop. Maybe a bit election-affected?
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The Market Ear on the market paralysis. Still stuck SPX futures stuck in the 5800/6000 range with a rather big rejection candle today. We are not getting excited until SPX breaks out, either way. Past few weeks is mostly just noise. Source: LSEG Workspace Twiterati illuminati Twitter Sentiment looks like crypto chart. The indicator is
The Queensland state government on Wednesday announced the opening up of nine new areas for gas exploration across the Cooper/Eromanga and Bowen/Surat Basins to boost future supply. The government asserted that the initiatives aim to unlock supply and stimulate new gas investment, thereby lowering energy prices. “The best way to bring down energy prices is
The post-COVID burst in Aussie business investment is over. Plans for the next year have now flatlined. Driven largely by fading services investment. Growth gone. Given that year-on-year growth in plans tends to be rounded down as the year progresses, this does not bode well for employment. The BRA expect capex growth to accelerate to
Last week’s 0.25% interest rate cut from the Reserve Bank of Australia (RBA) has immediately impacted the housing market, with Cotality last week recording the highest capital city final auction clearance rate since July last year at 65.1%. Sydney’s final clearance rate rose to 67.3% last week, which was the best result since mid-August last
The ferrous complex continues to fade away with steel in the lead. CISA output is now down year on year. The inevitable looms. Reuters. Also, speculation of incoming capacity limits were backed by Baosteel stating that total mainland production could fall by 50 million tons this year. There is no spur to a stronger