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Grattan Institute sings from property developers’ hymn sheet

November 2, 2018 - 00:20 -- Admin

By Leith van Onselen The Grattan Institute has penned another gaslighting piece in The Conversation calling for the middle suburbs in our major cities to be bulldozed into high density in order to squeeze in millions of extra migrants: Home ownership rates are declining across Australia, especially among the young and the poor. An increasing proportion

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Sydney property prices plunge towards -10%

November 2, 2018 - 00:12 -- Admin

By Leith van Onselen CoreLogic has updated its daily dwelling values index, which has significantly downgraded Sydney. In the month of October, dwelling values at the 5-city level fell by 0.6%, driven by heavy falls in Sydney (-0.7%), Melbourne (-0.7%), and Perth (-0.8%): Over the October quarter, dwelling values declined by 1.7% at the 5-City

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Australia’s dwelling construction continues to unwind

November 2, 2018 - 00:10 -- Admin

By Leith van Onselen With this week’s release of Australia’s dwelling approvals data for September, it’s once again time to examine how Australia’s dwelling supply is tracking against population growth. The below charts track the following, which are based on the latest available quarterly data: Dwelling approvals to September 2018; Dwelling commencements to June 2018;

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Off-the-plan apartment pipeline plunging?

November 1, 2018 - 13:45 -- Admin

By Leith van Onselen JLL’s latest Apartment Market Report has reported a heavy decline in the capital city rolling five-year apartment pipeline, with Melbourne’s and Sydney’s falling by around one-third and Brisbane’s down around 40%. From The AFR: “It’s a massive reduction in the pipeline over the past 12 months,” said Leigh Warner, JLL’s Australia

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PC takes aim at oversupplied demand-driven uni system

November 1, 2018 - 13:10 -- Admin

By Leith van Onselen The Productivity Commission’s (PC) deputy chair, Karen Chester, has questioned the merits of Australia’s demand driven university system and says the agency will investigate whether the policy of uncapped university enrolments is resulting in working effectively and delivering graduates who are not sufficiently prepared for the workforce. From The Australian: Karen Chester

Commodities drives Australia’s trade surplus higher

November 1, 2018 - 12:34 -- Admin

By Leith van Onselen The Australian Bureau of Statistics (ABS) today released trade data for the month of September, with Australia’s trade surplus rising to $3,017 million in September from $2,342 million in August: Over the September quarter, Australia recorded a trade surplus of $7,266 million – a $3,100 increase over the June quarter: The

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Trump looks to MOAR tax cuts

November 1, 2018 - 12:15 -- Admin

Via Reuters: The White House and Republicans on the House of Representatives tax-writing committee vowed on Wednesday to take “swift action” next year on a 10 percent tax cut for middle-class Americans. In a joint statement, the White House and the House Ways and Means Committee’s Republican members said they would push the tax-cut legislation

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Final auction clearance rate stuck in the mid-40s

November 1, 2018 - 12:00 -- Admin

By Leith van Onselen Last weekend, CoreLogic released its preliminary auction clearance rates, which revealed the following results: Today, CoreLogic has released its final auction results, which reported a large 3.2% decline in the national auction clearance rate to 47.0%, with Sydney’s auction clearance rate diving 5.4% to just 45.3% and Melbourne’s falling 1.2% to

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Import, export prices signal small terms-of-trade lift

November 1, 2018 - 11:51 -- Admin

By Leith van Onselen The Australian Bureau of Statistics (ABS) has released export and import prices for the September quarter, which portends a lift in Australia’s terms-of-trade when the national accounts are released in early December. According to the ABS, export prices rose by 3.7% over the September quarter and were up by 14.0% over

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What will US mid-terms do to markets?

November 1, 2018 - 11:45 -- Admin

Via Goldman: Allison Nathan: How do you expect the midterm elections to play out? Alec Phillips: It’s hard to argue with the consensus view that Republicans will hold the Senate and Democrats will win the House majority. Polling suggests the chances of the Democrats gaining the Senate majority have declined in recent weeks, but they appear to

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