Job ads still normalising Job advertisements fell by -5.7 per cent in New South Wales in April, by -4.1 per cent in Victoria, by -3.1 per cent in Queensland, and by -3.8 per cent in Western Australia, according to SEEK's latest monthly update. There were also significant declines in South Australia, Tasmania, the NT, and the ACT.  Of course, ads are falling back to earth from previously highly elevated levels.  Source: SEEK Over the past year job advertisements have dropped by more than -24 per cent in the two most heavily populated states of New South Wales and Victoria. At ..read more

Money Puzzle I joined James Kirby on The Australian's Money Puzzle podcast to discuss all the latest property and markets news. Tune in here (or click on the image below): In other news, total property listings fell by -6.4 per cent in April, with double-digit declines in Sydney and Perth.  Distressed listings fell for a second consecutive month.  --- P.S. Whenever you’re ready…here are 5 ways I can help you manage your own money and go next level wealth: Boom or Bust – 20 minute online workshop for investors Register for my next free online training - Boom or Bu ..read more

2-Sense This week we discussion, inflation, the forthcoming Budget night, and the push towards Build to Rent. Tune in here (or click on the image below): You can also watch on YouTube below: --- P.S. Whenever you’re ready…here are 5 ways I can help you manage your own money and go next level wealth: Boom or Bust – 20 minute online workshop for investors Register for my next free online training - Boom or Bust? How to change your investment plan - book in here You also download a free copy of my e-book The Only 6 Ways to Become Wealthy here.    &nb ..read more

US payrolls are slowing The US unemployment rate has remained steadfastly low, over the past couple of years, but increased more than expected to 3.9 per cent in April, having gradually moved higher from the cycle low of 3.4 per cent. It was also the weakest gain for payrolls in six 6 months, even as the economy notched a 40th consecutive monthly gain.  Despite high population growth, payrolls increased by far less than expected at +175,000, with revisions stripping another -22,000 from the preceding two months.  Job openings also declined in March, it was reported this week ..read more

Lending picks up again The value of lending for housing increased by 3 per cent in March 2024, to be 17 per cent higher than a year earlier.  There was a continued low level of lending for construction, while investor lending is picking up gradually. Source: ABS The average size of investment loan increased to a new record high, leading for the usual calls to tighten up lending even further, which is nonsensical. It's important to note, however, that the average loan size is naturally skewing higher under the new settings, because lower income earners are shut out of the market b ..read more

Approvals collapse gathers pace The ABS released the latest building approvals figures, and they ain't good. For house approvals the only bright spot is Perth.  Everywhere else looks set to be undersupplied.  Unit approvals were just dire, and look especially low in Brisbane where construction costs are simply too high to make unit projects work at today's prices.  Overall, house approvals are holding up, thanks to Perth, and unit approvals are outright collapsing. Unit prices may need to rise 50 per cent in most areas before we see any kind of meaningful supply respon ..read more

Perth boom Low content output this week as I've been at an event on the Gold Coast! CoreLogic released its monthly housing market report, which showed (or confirmed) what everyone already knew, that Perth's housing market is continuing to absolutely tee off. I'm actually heading over to Perth next week for the first time in some years, so it'll be interesting to see first hand how things have changed out on the west coast. Perth prices were up around +6 per cent over the quarter, with Adelaide (+3.3 per cent) and Brisbane (+3.1 per cent) also continuing to record strong price growth.  ..read more

Retail recession Pouring cold water on the notion that the economy needs to be cooled further, retail turnover was incredibly weak in the month of March, falling -0.4 per cent in seasonally adjusted terms. Allowing for issues with seasonality, the year-on-year growth was the slowest in 20 years, despite record high population growth. The graph shows a fascinating story of lockdowns, reopenings, and spikes in consumer prices! Source: ABS Retail figures basically don't get much weaker than that. Retail turnover is 30 per cent higher than it was 5 years earlier, but the population of Aust ..read more

Big Picture Podcast Some remarkable stats for for you this month on the Big Picture Podcast with Michael Yardney. Tune in here (or click on the image below): --- P.S. Whenever you’re ready…here are 5 ways I can help you manage your own money and go next level wealth: Boom or Bust – 20 minute online workshop for investors Register for my next free online training - Boom or Bust? How to change your investment plan - book in here You also download a free copy of my e-book The Only 6 Ways to Become Wealthy here.     2. Download our property buy ..read more

Build to Rent push Budget night is coming up pretty soon, and I expect the Treasurer will come up with some tax incentives to push the Build to Rent residential sector forward.  Corporate landlords will be incentivised to rent out units to tenants and offer the potential for longer lease terms. I'm not a fan of the sector myself, but some people like the idea of paying rent to a corporate instead of a private landlord.  It's a massive part of the new supply in the London housing market these days, and Labor Party in Australia likes the idea, spurred on by union-dominated superann ..read more