Australia’s flagging property market is poised to get a boost from record low interest rates and a housing shortage that could boost prices by as much as 10 percent this year.
Beer drinking in Australia fell to the lowest level since the end of World War II as wealthy consumers opted for wine and others shifted to the hard stuff.
Australia boosted full-time payrolls in February by the most in more than 22 years, sending the currency higher and signaling the central bank’s bid to spur local demand with record-low interest rates is gaining traction.
Australia’s core inflation slowed last quarter, sending the currency lower as investors eased bets on the likelihood of an interest-rate increase.
"It is pretty clear that the transition in activity from mining to housing construction has been a case of so far so good."
- Savanth Sebastian on Dec 10, 2014