Digital Finance Analytics (DFA) Blog
"Intelligent Insight"
The latest from the ABS on CPI to June 2022. Overall 6.1% but non-discretionary at 7.6%, so poor households are getting hit hardest. Some one-offs, especially in NSW helped lower the number too. We need monthly data and a better basis of calculation to avoid the Numberwang game!
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The proportion of Australians who own their home outright has halved over two decades for most age groups while the proportion of people with mortgages in retirement years has tripled.
Data from the Australian Bureau of Statistics shows that outright home ownership has more than halved for 25 to 54-year-olds between 2001 and 2021. At the same time, the number of mortgage holders and renters across all age groups has ballooned.
The number of Australians who own their homes outright has plummeted over the last 20 years.
The proportion of Australians who completely own their property has fallen by 11 percentage points according to the latest census data.
According to the recent Census data, which counted 25,422,788 Australians the proportion of Australians who own a home outright dropped from 41.6 per cent in 1996 to 31 per cent in 2021.
The same data also noted that, over the last 25 years, the number of Australians who owned a home with a mortgage also doubled, rising by 96.8 per cent.
Go to the Walk The World Universe at https://walktheworld.com.au/
We look at the latest ABS data as unemployment hits the lowest since 1974. That said, hours worked fell, despite the growth in jobs, and more were on the bench because of illness.
Question now is whether higher wages growth will follow.
Go to the Walk The World Universe at https://walktheworld.com.au/
We look at the latest ABS data as unemployment hits the lowest since 1974. That said, hours worked fell, despite the growth in jobs, and more were on the bench because of illness.
Question now is whether higher wages growth will follow.
The latest data from the ABS on new loans and building approvals contain some interesting insights, but the Canstar survey says borrowers do not want more rate hikes (any surprise?), ahead of the RBA decision tomorrow.
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The latest credit data from the RBA and APRA show ongoing growth, though the rate is starting to ease, and will do so more as rates rise. The ABS data on vacancies reveals a significant number of jobs on offer. We suggest the low wage environment is part of the reason why people are not grabbing them. This could turn to custard quite soon now.
Go to the Walk The World Universe at https://walktheworld.com.au/
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We examine the latest ABS data relating to employment for May 2022. The engine is running hot, but many more than usual are off sick. Rates are probably close to as low as they will go, as rates rise and business investment falters.
https://www.abs.gov.au/statistics/labour/employment-and-unemployment/labour-force-australia/may-2022
Go to the Walk The World Universe at https://walktheworld.com.au/
Latest data from the RBA showed a surprising fall in new credit for housing. So we look at the numbers and consider the likelihood of a credit squeeze ahead.
https://www.abs.gov.au/statistics/economy/finance/lending-indicators/apr-2022
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Loads of data out the past couple of days, so we cover off the March 2022 quarter GDP, (hint strong household spending), Credit Growth (hint, investors having a field day), Building approvals (down) and Home Price aggregates (overall down).
We also discuss the implications for the new Government.
More bad news on the inflation front as power prices are set to rise, and the ABS confirms many firms are seeking to lift prices where they can.
We are already seeing second order effects, and these will continue ahead.
The battle to tame inflation has hardly started yet.
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