Australia & COVID-19 – The Economic Story in 9 Charts

Is the recession really over?  The RBA deputy governor Guy Debelle told Senate that the Reserve Bank believes the nation is out of recession with the economy returning to growth in the September quarter. But what a roller coaster this year has been – and the ride isn’t over – there’s lots further to go […]

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Profitability of housing was eroded by COVID-19 through the June quarter shows latest CoreLogic Pain and Gain report

This edition of the Pain and Gain report analyses approximately 52,000 re-sale events over the June 2020 quarter. The volume of sales analysed hints at the impact that COVID-19 restrictions have had on transaction activity in the residential property market. Observations are down -28.2% from the previous quarter, when 72,500 re-sales were analysed. Despite the […]

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Here’s how the rental markets around Australia have been affected by COVID-19

The COVID-19 pandemic is an unprecedented shock to the rental housing market, reducing demand for rental properties at the same time as supply has increased. Households most affected by the economic impact are more likely to be renters, and border closures have reduced international arrivals. The number of vacant rental properties has increased as new […]

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What happens to Australia if there is no COVID-19 vaccine?

Financial markets are hoping for a vaccine to be rolled out to a significant portion of the population by mid next year. Treasurer Josh Frydenberg is basing his budget assumptions on a vaccine becoming available next year. So what happens to Australia’s economy if there is no COVID-19 vaccine in the near future? No doubt […]

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As the COVID-19 death toll passes 1 million, how does it compare to other major killers?

The UN Secretary-General Antonio Guterres has called it an “agonizing milestone” – and Reuters calculated it equated to one person dying every 16 seconds. While the pandemic has spread to 188 countries or regions, the five with the most deaths account for more than half the global total (562,139): the US (205,070), Brazil (142,058), India (96,318), […]

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CoreLogic survey suggests residential landlords have been inclined to keep rents steady during the COVID-19 pandemic

Plenty of data suggests certain rental markets have deteriorated amid the COVID-19 pandemic. CoreLogic data showed a 0.8% decline in national rent values from the end of March to the end of August, with more acute falls in the unit markets of Sydney and Melbourne, where rent values have fallen 4.2% and 4.4% respectively over […]

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COVID-19 creates an unusual start to the spring selling season

A key takeaway from CoreLogic data amid the pandemic, is that transaction activity slows significantly in response to COVID-19 restrictions. The resulting loss of employment, lower consumer sentiment and border closures have had a much larger impact on the number of properties marketed and sold, than property prices themselves. This was seen from the Stage […]

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Understanding the best performing capital city housing market amid COVID-19

Capital city dwelling values have been affected differently across Australia in the wake of the pandemic. As well as anecdotes of demand in regional lifestyle areas, the ACT dwelling market has been the clear ‘winner’ of the capital cities, increasing 1.3% in value between the end of March and the end of July. This came […]

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Why have the capital cities performed differently amid COVID-19?

Not every Australian housing market has performed the same way since the onset of the COVID-19 pandemic. The latest CoreLogic Home Value Index results revealed that since March, Melbourne property values fell 3.5%. Meanwhile, the ACT dwelling market reached a record high. From June to July, the rate of decline eased across Perth from -1.1% […]

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What could the lasting impacts of COVID-19 be?

What are the possible long-term impacts of COVID-19, as we make our way through a year that none of us were expecting. This is the topic of a recent Oliver’s Insight where Dr Shane Oliver, Head of Investment Strategy and Economics and Chief Economist at AMP says… Let’s assume for a moment that we are able to […]

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