Here are a couple of recent outtakes from the business press: Australia’s unemployment rate rose to 4.1% in June from 4% in May, despite the addition of 50,200 jobs, including 43,300 full-time positions. This data further fuels expectations of a Reserve Bank rate hike in August. Federal Treasurer Jim Chalmers claims the government has created…
The conversation around Australia’s housing crisis often circles back to a familiar refrain: we need to build more homes. However, the reality on the ground paints a more complex picture where the push for vertical housing solutions like apartments is increasingly seen as misaligned with market demands and affordability. The high cost of high-rise…
My chart this week illustrates Australia’s population projections over the next 25 years. I have used the medium projection series, and this is founded on the population data and trends as at financial 2022. It is the most up-to-date data and was released about a month ago. The projections are divided into several scenarios, showing…
In Australia, Generation X born between 1965 and 1980, is shaping the housing landscape with preferences influenced by their life stage, career aspirations, and family dynamics. Today this cohort is between 44 and 59 years of age. There are over 5.11 million Gen Xers in Australia, yet this generation is expected to grow by just 27,000…
If you google my name – God forbid – then more often than not, my version of the property clock will be one of the first articles in the run down. I don’t know why, as I have said some pretty outlandish things in my past, but the clock seems to stick. It is a…
Australia is going through an infrastructure boom. This follows from a building boom and before that a resources boom. Each boom was manufactured by the “Over World” as I like to label them – i.e. those that benefit the most – so that Australia doesn’t fall off the economic cliff or for some other altruistic…
Record population growth will increase housing demand, both to buy and rent. Australia’s population growth has bounced back big time after the Covid restrictions and the country’s annual increase is currently close to 625,000. This likens to a 12,000 increase in the country’s population per week. This is twice the annual average population increase over…
It has been said that a picture is worth a thousand words. So limited words this week. I will let the charts and tables do the heavy lifting. So, what is going on in the new housing space? Here is a snapshot. Chart 1 and Table 1 show owner residents outnumber investors when it comes…
At the beginning of this year data released by CoreLogic showed that dwelling values across Australia rose by 67.5% over the past ten years to December 2023. And despite forecasts to the contrary, last year’s dwelling values rose by 8.1%, on average, across the nation. Some urban areas did better than others. Dwelling prices and…
Imagine for just a few minutes that I am the RBA Governor. This is what I will be announcing next Tuesday at 2.30 pm. ….. Thank you for coming. The RBA board has agreed to leave the official cash rate where it currently stands. Up until last quarter, domestic inflation has been falling and in…
