We are a proud member of the Financial Services Online network!
Connect with us on your favourite social media platform for the latest financial news, views, tips, tricks, resources and information.
The downturn is particularly pronounced in the manufacturing and retail sectors, which showed the weakest performance in goods production and distribution. Conversely, the services sectors are holding strong, indicating disparities in economic resilience within the different sectors. NAB's findings further revealed that all sub-components of business conditions are now at or below average levels.
Geographically, South Australia and Victoria experienced the weakest conditions, while Queensland was the sole state to exhibit an improvement. "Confidence fell sharply in November and is now back below average," stated NAB Chief Economist Alan Oster. He acknowledged the persistent trend of below-average business confidence despite last month's optimistic observations.
The survey's negative sentiment is echoed in declining forward orders from the mining and retail industries, sectors that have lagged behind the long-term average throughout most of the year. However, service sectors such as recreation, finance, and property services continue to perform well above their counterparts.
On a positive note, capacity utilisation remains robust at 82.4%, surpassing the long-term average. Capital expenditure has also increased by 10 points, indicating sustained investment activity. Additionally, consumer prices show potential disinflationary trends, with retail prices taking a 0.6% dip and recreation and personal services seeing a 0.7% decline. Overall, output price growth held stable at a quarterly 0.6%.
Mr. Oster highlighted the mixed economic signals: "Overall, the survey points to ongoing soft growth in Q4 though with capacity utilisation unchanged at an above-average level. It will likely take more time for price pressures to fully normalise."
These developments emerge in the context of NAB's Australian housing market analysis, which, alongside data from CoreLogic, alludes to a correction phase for the real estate market as December progresses.
The report indicated that house values in four out of eight capitals decreased, led by Melbourne. Despite 22 consecutive months of growth previously, November's overall house price increase stirred faintly at just 0.1%. Notably, Perth stood out with a 1.1% increase, reflecting annual growth of 3% for the quarter, albeit much lower than earlier figures.
Highlights revealed muted growth in Perth, Brisbane, and Adelaide, contrasting with declines in Melbourne, Darwin, and Sydney where high-end properties faced more significant depreciations. A persistent increment in regional housing, recording a 1.1% rise over three months, shows diversification in house price trends nationally.
Factors such as rising inventory levels, particularly visible in Sydney and Melbourne, underscore shifting dynamics; listings across major cities have surged 16% this quarter. This is met with a decline in home sales, particularly felt in Sydney.
With rental prices continuing their climb—albeit at a slower pace—Tim Lawless of CoreLogic states, "Housing markets are likely to be arriving in 2025 on relatively weaker footing, with value growth losing steam...advertised stock levels rising, unaffordability at record highs, and demand no longer keeping pace with the flow of new listings." Until interest rates fall, pressure on housing trends appears unlikely to ease significantly.
Published:Tuesday, 10th Dec 2024
Source: Paige Estritori
| ANZ Faces Shareholder Discontent Over Remuneration Amid Scandal 19 Dec 2024: Paige Estritori ANZ is grappling with a significant backlash from its shareholders following a bonus dispute linked to a recent bond trading controversy, marking an unprecedented strike against the bank's executive pay proposals. - read more |
| Mortgage Rates Climb: Australians Face a Holiday Financial Surprise 18 Dec 2024: Paige Estritori As the festive season approaches, Australian homeowners are facing unexpected challenges with increased mortgage repayments. Recent analyses highlight a notable shift in interest rates, impacting both fixed and variable loan agreements. - read more |
| Private Credit's Momentum Persists Amid Changing Rate Landscape 17 Dec 2024: Paige Estritori As interest rates begin their downward trend, one might assume that private credit investments would lose some of their appeal. However, the chief executive of Pengana Capital Group's dedicated private credit division remains optimistic about the sector's future due to ongoing investor enthusiasm. - read more |
| Chalmers Unveils New Corporate-Backed RBA Advisory Boards 16 Dec 2024: Paige Estritori Treasurer Jim Chalmers has made pivotal changes to the Reserve Bank of Australia (RBA) by appointing a new advisory board rich in corporate experience. This move comes as part of an extensive reform agenda aimed at enhancing the central bank’s decision-making processes. - read more |
| New Zealand's Economic Woes: Facing Prolonged Uncertainty 16 Dec 2024: Paige Estritori New Zealand is grappling with a greater per capita GDP contraction than any other English-speaking country in the past year, highlighting a challenging economic landscape that surpasses the downturns post-Global Financial Crisis. - read more |
| Understanding Caravan Insurance in Australia: The Fundamentals for New Buyers Caravanning has become a beloved way of life and holiday choice for many Australians, offering the freedom to explore the vast beauty of our country at a leisurely pace. The lure of the open road and the versatility of having a home on wheels has led to an ongoing surge in caravan popularity across the continent. - read more
|
| How to Get the Best Deal on Caravan Finance – Insider Tips and Tricks Embarking on the search for the ideal caravan finance deal can be as exciting as it is daunting. For many Australians, a caravan represents not just a significant financial investment but also the key to unlocking endless adventures on the open road. However, securing the right finance package is crucial to turning those dreams into reality without overburdening one's financial future. - read more
|
| Three Simple Steps To Qualify For Low-Interest Caravan Loans In Australia. If you are looking to purchase a caravan in Australia, you will likely need to take out a loan to finance the purchase. Depending on your financial situation, you may be able to qualify for low-interest caravan loans. In this article, we will explain what the criteria for low-interest caravan loans in Australia are and how you can get low-interest caravan loans. We will also provide some tips for finding the best deals on caravan loans in Australia. - read more
|
| Modern Caravan Features: What to Look for in the Latest Models With the allure of the open road and the freedom it offers, caravanning in Australia has surged in popularity. Modern caravans have transcended being mere vehicles; they are now sophisticated travel companions that fuse comfort with convenience. The evolution of caravan features has been significant, making it essential to understand what today's models have to offer. - read more
|
| The Essential Checklist for Choosing a Caravan That Suits Your Lifestyle In recent years, the call of the open road has been answered by more and more Australians through the timeless tradition of caravanning. Sparked by the pursuit of freedom and the comfort of having a home on wheels, the caravan lifestyle has seen a resurgence in popularity. This phenomenon isn't just about being on holiday; it's about the independence and flexibility that comes with owning a caravan. - read more
|
|
Essential Considerations for Managing Your Caravan Finance Effectively Welcome to your first step towards financial liberation in the world of caravanning! Managing your caravan finance effectively is more than just making regular payments; it's a path to freedom on wheels. Understanding the nuances of caravan finance can unlock the door to early repayment and savings in interest, benefiting you in the long run. - read more
|
|
|
The Essential Checklist for Choosing a Caravan That Suits Your Lifestyle In recent years, the call of the open road has been answered by more and more Australians through the timeless tradition of caravanning. Sparked by the pursuit of freedom and the comfort of having a home on wheels, the caravan lifestyle has seen a resurgence in popularity. This phenomenon isn't just about being on holiday; it's about the independence and flexibility that comes with owning a caravan. - read more
|
|
A Guide to the Different Types of Caravan Loans Available in Australia A caravan loan is a type of personal loan that can be used to finance the purchase of a caravan. Caravans are a popular choice for Australians who enjoy travelling and camping, as they provide a comfortable and convenient way to explore the country. There are a number of different types of caravan loans available, and the right loan for you will depend on your individual circumstances. - read more
|
|
Top Tips For Buying A Second-Hand Caravan Whether you’re a first-time buyer or an experienced caravanner, there are a few things you should keep in mind when purchasing a second-hand caravan. In this article, we’ll outline the top tips for buying a second-hand caravan so that you can make an informed decision and end up with a caravan that suits your needs and budget. - read more
|
|
Caravan Loan Pitfalls: What to Avoid When Comparing Rates Exploring the vast and varied landscapes of Australia is a dream for many adventurers, and owning a caravan unlocks the freedom to roam the country at one's leisure. Caravaning is more than just a mode of travel; it's a lifestyle and a hobby embraced by those who seek the thrill of the open road and the serenity of nature. Given the significance of this investment, understanding the financial aspects becomes paramount. - read more
|