New motor vehicle sales declined a bit in seasonally adjusted terms in April to 97,604, although the trend result is at a record high.
Sports Utilities (SUVs) have accounted for a record 36.3 per cent of sales over the past year.
169,943 vehicles were produced over the year to April, for a fairly stable result.
Sadly, manufacture will cease in Australia over the coming couple of years, which will have a negative impact on the respective economies and labour markets of parts of Melbourne and Adelaide.
New motor sales at record highs represent further evidence that the economy is doing reasonably well.
Global experience has shown that when the population of a city approaches 5 million, congestion begins to become a genuine challenge.
While demographic statistics cannot be so accurate, it seems likely that the population of Greater Sydney will pass 5 million before the end of the this tax year (i.e. imminently).
Partly for this reason, I've long believed that over time property buyers will "trade space for place" in targeting the limited number of suburbs which are within a short commuting distance of the city.
The preliminary auction clearance rates last week, I believe, are not coincidental:
-Lower North Shore 93.1 per cent
-Outer South West 26.3 per cent