At the same time as the total impact of 2022’s fee rises are but to be felt, it appears like we’re heading in direction of much more in 2023.
Oh expensive. Seems to be like inflation is again on!
After a downward blip within the October quantity sowed widespread hope, the November quantity is again up. Inflation is registering at 7.3% on the Australian Bureau of Statistics (ABS) month-to-month indicator. That is the same as its document excessive, as the following chart reveals.
What’s rising most? It’s nonetheless the identical rattling factor: new dwelling purchases by owner-occupiers. That excludes the value of land and largely measures the price of constructing. It’s pushed up by the upper value of labour and lumber, and many others. The worth of constructing a brand new house, or getting a renovation, may be very excessive proper now: up 17.9% in comparison with a 12 months earlier.
Signal as much as maintain studying.
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