Property interest payable on dwellings increased from $45 billion to $91 billion in the 2023 financial year, more than doubling in recording an increase of +102 per cent. Good news for banks, I guess but will most likely be crippling for household expenditure, consumption, and retailers over the next year… Gross incomes per capita increased…
Articles by Pete Wargent
Pete is a Chartered Accountant, Chartered Secretary and has a Financial Planning Diploma. Using a long term approach to building businesses, investing in equities, & owning a portfolio he achieved financial independence at the age of 33. Visit his blog
Employment increased +55,000 in October, taking employment in Australia a massive +419,000 higher over the past year to a record 14,173,500. The October result was largely a result of part-time employment, however, some of which may have been driven by temporary hiring related to The Voice referendum (which would likely be unwound in November). Still,…
The labour force figures came in soft for September, with employment up only very modestly, by +6,700. This did come off the back of some volatile numbers in recent months – seasonal adjustments have been a bit thrown off by shifts in school holidays – so it’s a bit easier to look at a 3-month…
As expected by markets, the monthly inflation indicator came in at 5.2 per cent for the year to August. This was an increase from the very sharp drop to 4.9 per cent last month but below the 5.4 per cent recorded in June. The increase was mainly driven by rising fuel prices, driven more so…
Most of us have heard about the concept of compound growth, the snowballing effect caused by growth upon growth. You know the kind of thing: – If you could fold a piece of paper 42 times it would reach the moon; or – 24 rabbits in Australia became 2 million in only a decade; or…
Australia’s estimated resident population increased by a record +181,600 or +0.7 per cent in the March quarter. The annual growth increased to +563,200 or +2.2 per cent, and it’s now certain that we’ll see record high annual figures recorded over the next six months. Source: ABS Net migration accounted for +152,000 of the quarterly increase,…
Job ads decreased by -0.4 per cent in August (or ads), to be -6 per cent lower than a year earlier. Although job ads remain at a historically strong level for the time being, a range of forward-looking indicators are now pointing towards the unemployment rising towards 4½ per cent over the months ahead. Source: Jobs…
Inflation continues to decline The ABS released the latest monthly inflation figures, which dropped from 5.4 per cent in June to 4.9 per cent in July. This is of course now a long way down from the peak of 8.4 per cent in December as supply chains and the labour supply normalise. The most significant…
China’s real estate market is the second largest asset class in the world, and it’s coming severe pressure with prices falling and developers failing. China’s second largest real estate developer has crashed into filing for Chapter 15 insolvency in New York under the weight of the group’s $468 billion of liabilities. The developer has been…
There was a change to working regulations effective 1 July, reinstating the restrictions on student visa holders to a 48-hour working week. As such, some economists anticipated a +40,000 increase in the number of persons employed in July, as workers jostle for the newly freed up positions. It didn’t quite work out that way in…