7News reported that 20 to 40-storey apartment towers will be built in middle-ring suburbs located along the 90-kilometre Suburban Rail Loop (SRL): The state government claims it will create 70,000 new homes to help cater for a population of nine million Melburnians by 2056: However, local councils claim they didn’t get a say on the
The Market Ear with the latest market hysteria. SPX hitting resistance SPX bounced in the lower part of the trend channel and is now back up to the upper part of the channel. 5150 ish is a big short term level to watch. Note the 50 day comes in here as well. Refinitiv NASDAQ –
As it should. Albonomics is designed to enrich a narrow set of immigration-exposed industries at the cost of everybody else: The jig is up: Australians are caught in a squeeze of rising prices and high borrowing costs, with a Resolve poll last week showing over half of respondents describing themselves as being on the brink
By Gareth Aird, head of Australian economics at CBA: Key Points: The Australian Q1 24 CPI came in stronger than we forecast. As a result we shift our central scenario for the RBA to commence an easing cycle to November 2024 (from September 2024 previously). And we now expect only one 25bp interest rate cut
DXY eased last night: AUD marched higher: Aided by a reversal in JPY: Brent looks ready to break lower. Gold has flamed out: Big miners have bifurcated as Wall St pushes RIO with copper: Copper squeeze ongoing: EM more promising: Junk not so good: As yields eased: And stocks firmed: There was some rumoured yen
Wall Street continued its rebound overnight although European stocks stumbled as tech stock earnings, particularly Apple helped steady the risk ship. The USD pulled back against most of the majors although Euro was less steady and Yen was all over the place due to some BOJ intervention following its recent meeting. Meanwhile the Australian dollar
The FE complex rebound has stalled: The signals out of China are mixed at best: China’s industrial companies’ profits fell in March as exports flagged and deflationary pressures persisted, suggesting the economy’s stronger-than-expected growth early this year might be tough to maintain. Industrial profits at large-scale Chinese companies declined 3.5% from a year earlier in
CoreLogic’s daily dwelling values index shows that Australian home values at the 5-city aggregate level rose by 0.6% in April, the same rate of growth as in March: As shown above, there was significant divergence between the five major capital city markets, with Perth values surging by 2.0% over the month, whereas Melbourne values declined
New research from Domain shows that the amount of money required for a 20% housing deposit has roughly doubled over the past ten years across Australia’s capital cities: A decade ago, the average deposit for a Sydney home was $158,000, but it has since increased to over $325,000. In 2014, a Melbourne buyer would have
The LNP today discovers the first step of two that will win the next election in a landslide: The Coalition will demand Jim Chalmers cut spending in the May budget to accelerate the nation’s fight against stubbornly high inflation, but trade unions say prices growth has peaked and Labor should instead focus on jobs and