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Actual | Forecast | Previous | Revised Form | |
| 5.2% | 3.7% | 4.4% | 4.2% |
| 11/6 | 2/3 | 5/4 | 8/3 | 11/2 | 2/1 | 5/3 | 8/3 | 11/1 | 1/31 | ||
| Actual | 3.5% | 3.2% | 1.1% | -0.3% | -1.8% | -0.8% | -2.2% | 4.2% | 4.2% | 5.2% | |
| Forecast | 3.0% | 2.9% | 0.1% | -1.1% | -0.5% | -1.0% | 0.0% | 2.1% | 3.1% | 3.7% | |
| Previous | 3.2% | 3.2% | 3.2% | 0.4% | -0.2% | -2.4% | -1.2% | -1.5% | 4.2% | 4.4% | |
| Revised From | N/A | 3.5% | N/A | 1.1% | -0.3% | -1.8% | N/A | -2.2% | N/A | 4.2% | |
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Actual | Forecast | Previous | Revised Form | |
| 4.2% | 3.1% | 4.2% | N/A | ||
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For 3rd Quarter
HPI y/y: 6.2%, forecast 4.3%, pr. -0.7% R+ (2Q), -6.7% (1Q),
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Actual | Forecast | Previous | Revised Form | |
| 4.2% | 2.1% | -1.5% | -2.2% | ||
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For 2nd Quarter
HPI y/y: -1.4%, forecast -4.9%, pr. -6.7% (1Q), -3.9% (4Q),
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Actual | Forecast | Previous | Revised Form | |
| -2.2% | 0.0% | -1.2% | N/A | ||
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For 1st Quarter
HPI y/y: -6.7%, forecast -3.9%, pr. -3.9% (4Q), 2.8% (3Q), 8.6% (2Q),
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Actual | Forecast | Previous | Revised Form | |
| -0.8% | -1.0% | -2.4% | -1.8% | ||
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For 4th Quarter
HPI y/y: -3.3%, forecast -2.4%, pr. 8.6% (2Q), 13.8% (1Q), 13.8% (4Q '07) |
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Actual | Forecast | Previous | Revised Form | |
| -1.8% | -0.5% | -0.2% | -0.3% | ||
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For 3rd Quarter
HPI y/y: 2.8%, forecast 4.0%, pr. 8.6% (rev. up from 8.2% - 2Q),
House prices in Australia fell 1.8% in the 3rd quarter compared to the 2nd quarter, and slowed to an annual rate growth of 2.8%. Both figures undershot forecasts, and shows that the housing market is facing several opposing conditions. Though house prices are falling, which should make them more affordable, the lower prices are discouraging new building starts which is exacerbating a shortage in supply. Data last week showed new home sales in September had fallen to a decade low. However, the statistics may be slightly misleading as the composition has changed recently and reflects more non-bank lenders, with lower-value homes, coming into the data. Still, its evident that the Aussie economy is struggling now. The RBA already took aggressive steps in October by cutting rates by a full 1%, and it is expected to cut rates another .50% this week. |
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Actual | Forecast | Previous | Revised Form | |
| -0.3% | -1.1% | 0.4% | 1.1% | ||
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For 2nd Quarter
HPI y/y: 8.2%, pr. 13.8% (1Q), 13.8% (4Q) Australian housing prices fell in the 2nd quarter, registering a -0.3% change compared to the 1st quarter. Its the first time housing prices have shown a quarterly decline in almost 3 years, though forecasts had called for an even bigger decline. Compared to a year ago prices are up 8.2%, a slowdown from the 13.8% seen in the 1st quarter. Recent data suggests the housing market is straining as a result of the highest borrowing costs in 12 years. The economy as a whole is cooling as high interest rates choke inflation which is running above the RBA's target range of 2% of 3%. AUD/JPY - Aussie Pares Some of Last Week's Losses vs Yen: Both the Aussie and Kiwi were up on the Japanese Yen overnight, which cut into some of the steep falls seen in the pair last week. Today the Aussie rallied about 100 pips from its open.
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Actual | Forecast | Previous | Revised Form | |
| 1.1% | 0.1% | 3.2% | N/A | ||
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For 1st Quarter
HPI y/y: 13.8%, forecast 11.0%, pr. 13.8% (rev from 12.3%) Housing prices in Australia rose 13.8% in annual terms. The data shows that prices in Australia's housing market broke the trend seen in other parts of the world. The gains come also despite interest rates that are at a 12-year high. The cities of Melbourne, Brisbane and Adelaide rose by more than 20% compared to last year. Looking at the 1st quarter of 2008 compared to the 4th quarter, prices rose 1.1%, a decline from the pace set in the 4th quarter. It was still however, higher than expectations of flat growth. |
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Actual | Forecast | Previous | Revised Form | |
| 3.2% | 2.9% | 3.2% | 3.5% | ||
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For 4th Quarter.
HPI y/y: 12.3%, pr. 10.6% |
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Actual | Forecast | Previous | Revised Form | |
| 3.5% | 3.0% | 3.2% | N/A | ||
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For 3rd Quarter. House Price Index y/y: 10.6% (3rd Q), consensus 9.8%, pr. 9.2% (2nd Q) |
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