Heise Says#Recession #GDP #Australia With GDP figure being released later today there are concerns in the market and media. https://youtu.be/KA2KMl1jS6I References GDP to hit slowest pace since financial crisis, amid weak ‘business indicators’https://www.abc.net.au/news/2019-09-02/gdp-economic-growth-slow-down-business-indicators-profit-mining/11471034?section=business
#Myer #DavidJones #GetWokeGoBroke Myer and David Jones are focussing on political correctness and social justice in the board room and seem to be getting Woke and going Broke. References Gerry Harvey says Myer and DJs score top marks for boardroom diversity but ‘we beat the sh*t out of them’ https://www.news.com.au/finance/business/retail/gerry-harvey-says-myer-and-djs-score-top-marks-for-boardroom-diversity-but-we-beat-the-sht-out-of-them/news-story/e8075731d5222f2538217755f28bf0e3
#RealEstate #Property #SkyRocket Sydney property is apparently set to SkyRocket! Another attempt at inducing FOMO or an accurate prediction for the future? References Home seekers urged to buy Sydney property soon or risk paying a higher price https://www.news.com.au/finance/real-estate/sydney-nsw/home-seekers-urged-to-buy-sydney-property-soon-or-risk-paying-a-higher-price/news-story/a0321a743d1749c04e667508d58df49a Australia’s Housing Market Is Suddenly Heating Up Again https://www.bloomberg.com/news/articles/2019-08-07/all-of-a-sudden-australia-s-housing-market-is-heating-up-again?srnd=premium-asia
#Melbourne #WindorHotel #Planning Approval Victorian Minister for Planning Mr Richard Wynne has refused to extend the planning approval for the Windsor Hotel development. It appears that the Halim group was unable to secure finance for the $330 million dollar project. A sign of the apartment market perhaps? References https://www.theage.com.au/national/victoria/planning-minister-calls-time-on-windsor-hotel-redevelopment-saga-20190809-p52fht.html
#RBA #Economics #Australia Reserve Bank Governor Dr Philip Lowe Faced the Parliamentary Economics Committee in Canberra and was challenged on the recent rate cuts and the future of the Australian economy. The more I learn about Monetarism, the less confidence I have. References https://www.news.com.au/finance/economy/interest-rates/rba-accused-of-giving-up-on-stimulating-the-economy/news-story/f5f6ccf7ace28878b9c03404f9b89b82
#Housing #Australia #RealEstate Claims are being made that a small turn around in the Australian Housing market signals an end to the downturn and a return to booms times. I would argue for a more cautious approach. References Australia’s Housing Market Is Suddenly Heating Up Againhttps://www.bloomberg.com/news/articles/2019-08-07/all-of-a-sudden-australia-s-housing-market-is-heating-up-again?srnd=premium-asia
#RBA #InterestRate #CashRate The RBA has kept the cash rate unchanged at 1.00%. While our Reserve Bank Governor, Philip Lowe, states that the global economy remains reasonable and predicts growth for Australia, I am wondering if he is in a Monetarism bubble? References https://rba.gov.au/media-releases/2019/mr-19-20.html
#Sydney #Investment #Property Due to increasing vacancy rates, Sydney rental returns have plummeted and become a tenants market. But surely it’s still a great time to rush and buy off the plan! References Sydney becomes tenant’s dream as rental vacancies at highest level since 2005https://www.perthnow.com.au/lifestyle/real-estate/sydney-becomes-tenants-dream-as-rental-vacancies-at-highest-level-since-2005-ng-aaff1c8db20e6fe1d991ea82e3946434 Domain Rental Vacancy Rate May 2019: Tide turning in Brisbane […]
#Retail #Recession #Australia Australia’s retail recession continues to grow with a huge David Jones write down in value. Let’s look at some indices and anecdotes about Mainstreet. References David Jones value cut by another $437 million as Australian ‘retail recession’ hits hard https://www.news.com.au/finance/business/retail/david-jones-value-cut-by-another-437-million-as-australian-retail-recession-hits-hard/news-story/5f23466fb5a0a4c45ef658435ae581e5
#ALP #SolarPanels #Rebates The Victorian Labor Parties is destroying the states solar panel industry by creating the expectation of a low price in the market. How can politicians propose policies like this without economic modelling to ensure they are not going to destroy entire industries? Will the public learn? References Solar installers say rebate casts […]