ONLY CHARTS

Edition #24

1. Further signs of an easing in labour market conditions in Australia. Still tight, but easing

2. Australian dwelling prices rose +0.4% m/m over January according to CoreLogic

3. While nominal Australia-wide housing prices have reached record highs, in real terms they remain below the prior peak

4. That’s not to say housing is affordable in Australia. Deposit affordability, which is directly linked to the ratio of dwelling prices to income, remains unfavourable for many households

5. The recent strong performance of equity markets could foreshadow some near-term pick-up in Australian housing price growth

6. The number of residential building approvals in Australia fell 9.5% m/m in December, mainly due to volatility in the higher-density component…

7. …but the number of detached house building approvals has also dipped lower in recent months amid a decline in new house sales

8. Bit of life in wholesale electricity prices in Australia. The ABS noted in yesterday’s CPI release that “electricity retailers in some capital cities [had been] increasing discounts for market offer plans”

9. Proposed average annualised wage increases in federal EBAs lodged with Australia’s Fair Work Commission continue to hover around the 4% mark

10. US wages growth is cooling as worker mobility declines