ONLY CHARTS
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1. New Zealand housing prices continued to increase in February and sales volumes also picked up a little.
2. Kiwi home prices have now been trending gradually higher since Q2 2023.
3. In real terms, however, NZ housing prices have been little changed over the past year.
4. Rising dwelling prices have encouraged more homes to be listed for sale.
5. New Zealand’s (provisional) net immigration fell sharply in January
6. Net immigration of non-NZ citizens is normalising while net emigration of kiwis picked up further in January to a high level.
7. The number of short-term visitors to New Zealand - including holidaymakers - remains well below the pre-COVID peak. In contrast, the number of kiwis travelling overseas for short periods is close to pre-pandemic levels.
8. Australia’s monthly proxy for net immigration remained elevated in January. We warn, however, that seasonal adjustment has become trickier post COVID and around the turn of the year.
9. Press reports suggest that Australian airlines have increased their base domestic airfares 2-3 times since October last year. That is borne out in airfares data collected by BITRE.
10. The number of company insolvencies in Australia has stabilised at a relatively high level in recent months. As a share of the number of companies registered, insolvencies are around levels just prior to the pandemic.
