The recent mass interstate exodus by Victorians is continuing, with annual totals now at the highest levels since the recession of the early 1990s. By contrast, interstate migration into Queensland continues to rise, with that state remaining clearly the most popular destination for relocating Australians The ABS reports that Victorian net interstate migration fell by…
Articles by Dr. Andrew Wilson
Dr Andrew Wilson, Chief Economist of www.MyHousingMarket.com.au is widely regarded as Australia’s leading property economist.
The Australian labour markets bounced back hard over November following the easing of the recent severe lockdown restrictions in Sydney and Melbourne. The ABS reports that the unemployment rate (seasonally adjusted) fell sharply over the month, down from 5.2% to 4.6%, the lowest result since the 13 year low 4.5% recorded over August. Employment growth…
National home lending has continued to fall over October despite the easing of severe lockdown restrictions in Sydney and Melbourne. The outlook for lending activity remains mixed with rising affordability barriers and the satisfaction of pent-up demand acting to reduce home-buying activity. The ABS reports that the value of home loans seasonally adjusted (excluding land…
The recent record surge in home lending has clearly peaked, with loan activity over October falling for the fifth consecutive month. Although owner-occupiers and first home buyers have reported consistent declines in activity since May, investor lending has continued to rise. The original value of investor loans increased by just 0.4% over October to $9.87bn…
Economic growth has predictably retreated over the September quarter, but the results were significantly better than the gloomy numbers that had been widely forecast. This certainly kills stone dead the prospects of another recession as was also predicted by many. The ABS reports that the national GDP contracted 1.9% seasonally adjusted over the September quarter…
Housing markets generally have recorded extraordinary prices growth this year driven by low-interest rates and rebound demand reflecting the interruptions to activity over recent years. Sydney and Melbourne have led the charge over 2021, but prices growth – while still strong, has moderated over recent months. Most other capitals however continue to report boomtime results….
The Australian economy continues to adjust from the covid flattening of 2020 with wages predictably bouncing back from the record low growth levels of last year. The latest ABS Wage Index reports that wages seasonally adjusted increased by 0.6% over the September quarter for an annual increase of 2.2%. The September quarter increase follows a…
The latest official labour market data clearly contradicts recent reports of an early and robust post-lockdown revival in the economy. The ABS has revealed that the national unemployment rate seasonally adjusted increased sharply over October – rising from 4.6% to 5.2% and the highest monthly result since April 46,300 jobs were lost over October with…
As expected the RBA has left official rates on hold over November at the record low 0.1%. Despite the near-certainty that rates would remain on hold, speculation has intensified that the RBA may now be inclined to bring forward its previous forecasts that official rates would not increase until at least 2024. Market speculation of…
The hot Sydney housing market has surged over the past month following the easing of lockdown restrictions, with waves of buyers and sellers now engaging Australia’s strongest and highest priced capital city. Sydney houses are selling like hotcakes with the average time on market falling to just 23 days over the past month – the…