“A rapid recovery in population growth came as a big surprise to the central bank’s economic forecasts, pushing up rents and leading to an earlier-than-expected stabilization in house prices after months of losses.Reserve Bank of Australia (RBA) chief economic analyst Marion Kohler said early on Wednesday, according to Reuters.
The political officer has spoken at an event in Perth and has said: “The drag on consumption from the real estate recession would be less than previously expected, now that prices have stabilized in recent months“.
Additional comments
Higher population growth is expected to boost employment growth.
There is some confidence that property price inflation will moderate this year.
The increase in energy costs will be less than what we anticipated six months ago.”
Source: Fx Street
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