When you read, hear, or are told something statistical-based it is helpful to have a base case to make a comparison. This base case intel is the ‘bird’s eye’ statistical perspective – a helicopter’s view so to speak – whilst what we mostly hear or are told is from a ‘worm’s eye’ viewpoint or from…
This week in our Stuff Worth Knowing series we cover detached house sales. Tables 1 and 2 outlines the number of detached houses and median values across the eight capital cities and the other top 20 major urban spaces in Australia. Market size is important. Too often real estate conversations are focused on price and,…
There are several cross-currents running through the Australian rental market at present. My inbox is filling up with ‘please explain’ rental-focused emails. Some are confused as to why vacancy rates are falling in many places, yet population growth has dropped, sometimes markedly. Others don’t see how rents can be rising when unemployment and under-employment remain…
This week let’s discuss some things from overseas. Overseas migration Overseas migration, like internal migration, involves a net result, being people arrive from overseas, whilst others leave Australia to live elsewhere. Chart 1 shows that – pre Covid – some 10,000 people each week where arriving from overseas, whilst 6,000 folks were leaving Australia, again…
Less is more. Below are three rare property market indicators – when they fall it is better than when they are increasing. Chart 1 shows the number of dwellings approved, but not yet started. Whilst the number of attached dwelling non-starts have fallen – which is a good thing – the 21,500 not yet commenced attached dwellings…
COVID19 has reignited the debate about product size, with some jumping on the bandwagon advocating that there will be a lot more demand for smaller housing products and, in particular, studio and one-bedroom apartments. Given it costs much more to build and supply small residences when compared to larger housing floorplates, I think it would…
Shovel ready projects is the latest government catchcry. Of late most of these shovel-ready projects involve new civic construction. There are two basic types of construction: civic construction (roads, rail, utilities, etc.) or building construction (private dwellings, schools, hospitals, offices, factories, social housing, etc). When it comes to building construction there are two basic types…
A somewhat contentious post given recent events and COVID19’s potential impact on employment. Last year the Australian Government’s released new five-year forecasts for employment via its Labour Market Information Portal. Heavy caveats have subsequently been added to this dataset. We have been using this information for some time and my regular review of the statistics…
Much has been written – with little doubt more to come – about the Australian rental market of late. The themes most discussed include the potential impact of eviction and rental increase bans; the fall in international student numbers and their effect on rental demand; the rise in unemployment (especially in those industry sectors which…
What is going to happen to overseas migration post Coronavirus? Chart 1 tells me that net overseas migration has lifted substantially when compared to a generation ago. But in recent times it has slowed down. Like interstate migration, net overseas migration is also a cyclical occurrence. Table 1 tells me the New South Wales and…
