Guangzhou and Shenzhen have eased mortgage restrictions for first home buyers to boost apartment demand. Australia’s inflation was softer than forecast.
In part one of a bonus deep-dive interview, ANZ’s Chief Economist for Greater China Raymond Yeung examines the (remote) prospects of China’s property downturn becoming a ‘black swan event’ for China’s economy.
5 things to know
China's fifth biggest city, Guangzhou, and the tech hub of Shenzhen have announced first home buyers will get preferential loans.
Australia’s annual inflation rate of 4.9% in July was below expectations. ANZ’s Senior Economist Adelaide Timbrell explains why.
Australian housing cost inflation also decelerated in July, helping take pressure off CPI inflation.
The RBA will find the inflation data encouraging ahead of next Tuesday’s cash rate decision. A hold is still expected, Adelaide says.
Building approvals in Australia and New Zealand fell in July. ANZ New Zealand senior economist Miles Workman sees a longer term supply shortage.
Cheers
Bernard
PS: Look out tomorrow for part two of Raymond Yeung’s deep-dive into the risks around any acceleration of house price falls in China.
