Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
The total value of residential dwellings in Australia rose by AUD140.0 billion to AUD9.9 trillion over the March quarter, snapping the downward trend in prices recorded since the Reserve Bank of Australia began hiking rates in May 2022, according to the Australian Bureau of Statistics.
The strength of Australian house prices has shocked the Reserve, unexpectedly reducing the drag on household consumption factored into its models and raising the chance rates could move higher if strong house-price growth persists (see: MNI POLICY: House Price Strength Thwarts RBA Models). ABS data showed the total value of residential dwellings rose in all states and territories except Tasmania, Northern Territory and the Australian Capital Territory over Q1 (see chart).
Corelogic also reported this morning more than 40% of Australian house and unit markets recorded double-digit rent increase over the past year, despite the pace of rent growth showing signs of easing (see chart). Rent is a major input into CPI calculations and a factor the RBA monitors closely (see: MNI POLICY: RBA Ponders How To Respond To Rent Inflation).
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.