UBS analysts have been bearish on Aussie housing seemingly forever-and-a-day now.
But not so much any more:
Source: UBS, via @cjoye
Renovations work is below where it was in 2004 despite the population ballooning by 6 million over that time.
The renovations stimulus would be highly stimulatory and UBS recognises that.
Morrison is of course a pro-property PM and would be delighted to hear it.