Rental vacancies at record lo
PropTrack released its latest rental report this morning.
Rental listings in the capital cities fell another -8.6 per cent in the month of September, to be down by more than -25 per cent over the past year.
Rental vacancy rates at the capital city level are now at historic lows.
Rents are now in turn rising, especially in the big cities.
PropTrack's full report is here.
Wen pivot?
It was heartening to see the Bank of Canada pivoting towards a slower pace of rate hikes overnight, against market expectations.
The pace of tightening globally has been blistering, but it's increasingly evident that we'll be heading for recessions all over the place if things continue as such.
Australia's 3-year bond yield has declined to 3.4 per cent.
Immigration ramp up
The ALP is going to go very hard on increasing Australia's headcount, while also easing work restrictions for international students, and providing funding to accelerate visa processing, including for parents, partners, and children.
SBS News summarises here:
Source: SBS
It looks to me like Australia's population growth will soar to record highs over the next year or two, and this will go a long way to solving labour force capacity constraints.
