Monthly Market Highlights

  • December 2022

    January 9, 2023

    • Western Australia’s real state final demand increased 0.6% in Q3 2022 to be up 3.3% YoY.
    • The Western Australian unemployment rate was steady at 3.5% in November.
    • The CoreLogic Perth home value index rose 0.1% in December to be up 3.6% up through the year.
    • The value of Western Australian merchandise goods exports was A$69.3b in the three months to October.

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  • November 2022

    December 5, 2022

    Western Australia’s gross state product rose by 3.1% in 2021-22. Western Australian retail trade was unchanged in October, but rose 7.7% over the year. October also saw a 5.7% increase in dwelling approvals in Western Australia. According to CoreLogic, Perth house prices were flat in November, to be 3.9% up through the year.

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  • October 2022

    November 8, 2022

    The RBA board dialled back the pace of tightening, raising the cash rate by 25 basis points at both the October and November meetings following a series of 50 basis point increases. A peak in the cash rate of 3.85% is priced in for 2023, down from the 4.10% that was priced in at the end of September.

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  • September 2022

    October 11, 2022

    The RBA Board raised the cash rate target by 50 basis points to 2.35% at its September meeting. Western Australian real state final demand rose 0.1% in Q2 to be up 3.3% YoY. Employment rose 0.9k in Western Australia in August, with the unemployment rate falling to 3.1%. The Western Australian regional home value index increased by 0.3% in September, to be up 6.9% YoY.

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  • August 2022

    September 8, 2021

    Western Australian employment rose by 6.4k in July, while the unemployment rate declined to 3.2%.
    July also saw a 1.6% rise in Western Australian retail sales, which took the annual increase to 10.5%.
    Western Australia’s wage price index rose by 0.8% in Q2, to be 2.7% up through the year.
    The CoreLogic hedonic home value index declined by 0.2% in August but remained 4.9% higher than a year ago.

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  • July 2022

    August 9, 2022

    The RBA raised the cash rate by a further 50 basis points to 1.85% at its August Board meeting. The Western Australian unemployment rate was 3.4% in June. The Perth CPI increased 1.7% in Q2, to be 7.4% higher than a year earlier. According to the CoreLogic Home Value Index, Perth house prices rose 0.2% in July, to be up 5.5% YoY. Western Australian dwelling approvals rose 1.7% in June.

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