4 September 2017

Bassanese Bites: Make money not war – Week beginning: 4 September 2017

There was also some encouraging Australian economic data last week, though the share market remained focused on the tail-end of what has overall been a relatively uninspiring earnings reporting season.

Housing data was mixed. While building approvals did not fall as much as expected in July – and remains at a high level – actual home building activity in the June quarter dropped for the second quarter in a row. This suggests housing construction has already peaked and will now be a more persistent drag on growth despite the large “pipeline” unfinished high-rise projects that need to be completed. According to Core-Logic data, the Sydney house price boom appears to be exhausting itself, with prices flat in August.

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