property market news

The week that as in property
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The Reserve Bank (RBA) held their April 2017 monetary policy meeting earlier this week and at the meeting the board decided to keep official interest rates on hold at 1.5%. In the statement accompanying the announcement of their decision the commentary around the housing market was much more pointed than it has been in the…

The week that was in property
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At the end of last week the Australian Bureau of Statistics (ABS) released housing finance data for July 2016. The data showed that over the month, the total value of housing finance commitments was $31.8 billion, down -1.8% over the month.  Looking at the components, there was $19.9 billion worth of commitments to owner occupiers…

The week that was in property
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The Australian Bureau of Statistics (ABS) released the June 2016 quarter National Accounts earlier this week. The data showed that over the quarter, gross domestic product (GDP) grew by 0.5% to take it 3.3% higher over the year. The 3.3% annual change in GDP is the fastest rate of growth since June 2012. While GDP…

The week that was in property
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The Australian Bureau of Statistics (ABS) released its twice annual data on average weekly earnings late last week.  The data showed that as at May 2016, the average person earned $1,160.90/week with average earnings having increased by 2.1% over the 12 months to May 2016. Males continue to, on average, earn more than females with…

The week that was in property
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At the end of last week, the Reserve Bank (RBA) released private sector credit data for June 2016.  The data showed that over the 12 months to June 2016, housing credit increased by 6.7% which was its slowest annual growth rate since August 2014. In terms of the components of housing credit, owner occupier credit advanced by…

The week that was in property
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The Australian Bureau of Statistics (ABS) released the June 2016 quarter Consumer Price Index (CPI) results earlier this week.   According to the data, headline inflation rose by 0.4% over the June 2016 quarter up from a -0.2% decline over the previous quarter. Even though there was a rise in quarterly headline inflation, on an annual…

The week that was in property
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The Reserve Bank (RBA) released the minutes of their July board meeting earlier this week.   At their meeting the RBA decided to keep official interest rates on hold at 1.75% however, some of the comments suggest that a low June quarter inflation reading could trigger another interest rate cut in August.   This is…

The week that was in property
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Late last week the Australian Bureau of Statistics (ABS) released demographic data for the December 2015 quarter. The data showed that over the 12 months to December 2015 the national population increased by 1.4% or 326,073 persons. The rate of population growth was unchanged over the quarter but has been trending lower following a peak…