Housing became more affordable in the first quarter of this year everywhere, apart from Hobart and on average homes are more affordable across Australia now than at any time in the last 17 years.
With the release of the December 2019 quarter figures by the ABS we have just released our most recent housing affordability report. Housing affordability in most cities remains within historically comfortable limits, so this month we also looked at one probable effect of the COVID-19 pandemic - mortgage stress.
It is now 5.83% cheaper for the average Australian to repay an average housing loan than it was in 1994, but it takes the average Australian 65% longer to save the deposit.
The recent changes will mean some less extreme outcomes in terms of revenue allocation and its effects but will still entail economic efficiency distortions in relation to incentives of State and Territory governments.
House repayments across Australia were at their lowest level for 16 years in the second quarter of this year, according to the latest ABS figures, but the average first home buyer is waiting an additional 15.12 weeks to save a deposit.
3.52% would put the LNP into the minority in council, and 6% would give Labor control in their own right, despite the LNP currently holding 60.56% of the two-party preferred vote.
The UAH record for May shows temperature for Australia to have been just slightly hotter than the May trend, which is the first graph that I have displayed, but there have been plenty of hotter Mays in the past of the record, as far back as the late 80s.
This was an election that Labor lost. It had too many policies that hurt too many people through higher taxes.
Labor’s franking credits policy abolishes the tax free threshold for a certain class of low income earners and sets the minimum tax rate at 30% with no threshold.
Electors are divided and unenthusiastic this election. They are divided along lines of age, gender, income and nationalism versus cosmopolitanism. Unenthusiastic, because they are split and increasingly looking to minor parties.