Housing Affordability Problems Drive More Australians Out of the City
The falling affordability of homes may lead to a second wave of growth in the Australian regional housing market as buyers are pushed out of the cities to cheaper, regional areas.
CoreLogic head of research Eliza Owen told The Australian that since most capital cities were sitting at record high prices, movement to the periphery of large cities or more affordable regional centres was likely.
“That creates additional pressures of displacement for some of those regional centres as well, and eventually prices become less affordable for locals,” Owen said. “That can create some disruption and may have more of a spillover effect into buying into different areas.”
The CCP’s Economic Coercion Tactics Against Australia Meet Its Waterloo
Commentary
Coercive economic policy is one of the key means of the Chinese Communist Party’s (CCP’s) presumptuous diplomacy style. Take a look at the foreign ministers’ meeting at G7 on May 5, when it criticized the CCP for “arbitrary, coercive, economic policies and practices.” The next day, the CCP’s National Development & Reform Commission (NDRC) issued a statement on its indefinite suspension of all activities under the China-Australia Strategic Economic Dialogue, stepping up its economic coercion of Australia to a whole new level since 2020.
Seemingly, the CCP has great favorable conditions for its retaliation against Australia. Firstly, based on the Australian Bureau of Statistics, from 2009 to 2010, China surpassed Japan, becoming Australia’s main export country. In the four-year period from 2014 to 2015 and 2019 to 2020, the value of Australia’s exports to China had doubled, an incre
Surging commodity prices sound inflation alarm
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Inflation alarm bells are ringing louder as commodity markets shatter records and governments continue to pile on stimulus, prompting a fresh wave of price anxiety that has shaken global equities.
The latest sign that inflation pressures are building emerged overnight in US financial markets, where five-year break-evens â or market-based inflation forecasts â rose to a decade high of 2.77 per cent, and 10-year break-evens touched the highest level since 2013.
Expectations of price pressures are apparent in the commodity markets, with iron ore hitting another record high and copper and aluminium also soaring to records overnight. Lumber prices have also hit record highs and corn and wheat prices are on a tear.
Queensland is reportedly due to be allocated $1.6billion in infrastructure funding in Tuesday night s federal budget.
SA is reportedly getting $2.6billion for infrastructure, while NSW and Victoria are each in line to receive $3billion.
Mr Dick says that doesn t make sense, because Queensland s population of 5.1 million is more than double SA s population of 1.77 million.
Treasurer Dick and Premier Annastacia Palaszczuk (pictured, left, with deputy premier Steven Miles) have published a wish list of projects for which they would like to receive federal funding These are specific decisions the federal government s made to fund specific projects in specific states, he told ABC Radio on Monday.
Businesses are heading into the federal budget in an upbeat mood with both confidence and conditions reaching record highs in April.
Retail spending figures released by the Australian Bureau of Statistics also showed a solid 1.3 per cent increase in March, only a touch below the 1.4 per cent reported in earlier preliminary figures.
However, sales fell 0.5 per cent over the March quarter, following a 2.4 per cent increase in the previous quarter.
Ben James from the ABS said the quarterly fall was driven by household spending patterns gradually returning to pre-pandemic levels.
Shoppers in Melbourne s Bourke Street Mall as new figures show business confidence is at record highs (above)