1. SQM’s residential rental vacancy rates declined in Australia to new lows in Sydney and Melbourne
2. Data to November show the weighted-average interest rate on outstanding housing loans had risen by 110bps LESS than the rise in the RBA cash rate since April 2022. This gap will narrow as more fixed-rate mortgages expire.
Rates on outstanding variable-rate housing loans have risen by 70bps less than the cash rate.
4. This is how the increase in average outstanding mortgage interest rates in Australia compares with other countries
5. Average outstanding mortgage interest rates in Australia are relatively high…
6. …but the US takes the cake for interest rates on new housing loans
7. Australia’s goods imports fell sharply in November…
8. …with the weakness most pronounced in consumption goods imports…
9. …and particularly motor vehicle imports. Imports of all consumption goods, however, have fallen over recent months amid weak demand, lower inflation (or falling prices) and possible de-stocking
10. Residential building approvals in New Zealand continued to fall in November, dragged lower by the higher-density component
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