Retail slows
Retail volumes were flat in Q3, and won't contribute anything to GDP in the third quarter.
A year earlier, we were mired in the endless Delta lockdowns, rendering the year-on-year figures meaningless.
Notably households good retail volumes are now dropping away sharply.
Given that rate hikes only began in May, the fact that retail volumes had already stalled by the following quarter suggests that hiking much further may not be necessary.
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Rental listings took yet another step down this week, driven by Melbourne and Sydney.
Source: SQM Research
Sydney's combined asking rents have soared by 28 per cent over the past year.
