As Santa and Rudolph prepare to file a flight plan, the Sydney Morning Herald and Australian Property Monitors report there were still a few hundred sellers (300+) in Sydney hoping all their Christmases would come at once.
Another exciting day in Sydney with another thrilling auction report from the Sydney Morning Herald and Australian Property Monitors to digest.
This week the TGP introduces a few new “characterisations” of the results and makes a few improvements.
Unfortunately we have been unable to obtain a free copy of the “final” APM results for last weekend so if you had been hoping for a resolution of that cliff hanger – no luck in that department. Continue reading
There have been a lot of frothy comments over the last few days about the employment statistics and how they indicate that the Australian economy is ‘rebalancing’ and adjusting to the post mining boom world.
Don’t be fooled – things are still crook and we have a long, long way to go.
Possibly the best indicator of just how crook things are is the exchange rate.
“How so?” you say
“It is still nice and high”.
If the prices for our largest exports are tumbling that means that our trade partners need to acquire much fewer $AUD to acquire them. And it is not just iron ore and commodities. We are pumping out very ugly trade deficits month after month. Put simply – the demand for the $AUD as a result of our trade performance is weak and getting worse.
Clearly export volumes are not filling the price decline gap.
The value of a currency of a country with our rapidly deteriorating trade performance should be falling fast but it is not and THAT is a problem.
So why is it not falling? Why is it not reflecting the wind going out of our sails? Continue reading
There is nothing the average property obsessed Sydneysider likes to do more than to burrow through that data report and see what has sold and what has not. This allows them to reassure themselves that their patch of heaven is going up, up, up on a warm current of bank created debt lovingly encouraged and supervised by the folks at the RBA and APRA.
One of the results that is often reported and watched with considerable interest is the auction clearance rate (ACR). When the ACR is above 80% all is well and rejoicing across the land breaks out.