Must see reads
The must-read articles of the week summarised for you here at Property Update (or click the image below).
This week, a look at 'QE', the coming first home loan deposit scheme, and the end of the high-rise tower:
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The week ahead
The September National Accounts are due to be released on Wednesday this week, with the GDP partial indicators from retail, construction, and CapEx figures all negative, and only a modest contribution from net exports expected.
Contributions from public spending and inventories should prevent it from being a stinker, but nobody is forecasting a strong result and the median market forecast is only for growth of +0.5 per cent for Q3.
By a quirk of the calendar the Reserve Bank meets for the last time this year on Tuesday this week, before the Q3 National Accounts are released.
Figures released on Friday showed credit growth slowing to the lowest level in 9½ years, and the median market forecast for Monday's building approvals figures points towards another year-on-year decline of almost 20 per cent.
Comparatively very few apartments are now being approved in inner Sydney, although some are still getting up in LGAs such as Liverpool, Parramatta, and Ryde.
Financial markets expect a pause and for interest rates to stay on hold now, despite inflation being forecast to miss the target for a further couple of years.
Commentators outside the mainstream financial media are becoming increasingly agitated as market based measures of inflation expectations see no return to target for a further half a decade.
Never a dull moment.
Have a great weekend!
Have a great weekend!
