Data comparisons

The most-asked macro chart in Australia. We overlay the RBA cash rate and headline CPI to show the real policy rate over 34 years.

Banks do not pass the full cash rate move through to borrowers. This chart shows the gap over time.

When wages lag prices, real incomes fall. The 2022 to 2024 period was the steepest real-wage decline in the WPI series.

The local Phillips curve. Tight labour markets through 2022 to 2023 coincided with peak inflation.

ABS Residential Property Price Index since 2003 for Sydney, Melbourne, Brisbane, Adelaide, Perth, Hobart, Darwin, and Canberra.

Median dwelling price divided by median household income.

Below 2 percent is a landlord market. Above 3 is balanced.

When rent growth outpaces wages, household budgets squeeze. 2022 to 2024 was the worst stretch on record.

South Australia and Tasmania lead. NSW and QLD trail.

Five-minute settlement averaged to monthly, by NEM region. Shows interconnection effects and renewable curtailment.

Coal share has fallen 20 percentage points since 2014. Gas has held flat.

CBA, Westpac, NAB, and ANZ hold around three quarters of the Australian mortgage book.

Deposit share moves slower than mortgage share. CBA leads with around a quarter.

The 2020 to 2021 fixed-rate spike created the 2023 cliff.

NIM dropped through the 2010s as rates fell, recovered through 2022 and 2023, then narrowed again.

WA and the ACT lead on median taxable income. Tasmania trails.

Mosman, Toorak, Peppermint Grove, Cottesloe. The map of wealth.

Anaesthetists, surgeons, and judges top the list. Hospitality and retail roles sit at the other end.

Victoria and Queensland grew fastest through the post-Covid period.

Migration drives most population growth in Australia, especially since 2022.

ABS Series B baseline projections.

Iron ore dominates, then coal, gas, and education services.

China is the largest market by a wide margin, followed by Japan and South Korea.

Australia has run a goods trade surplus every year since 2017, driven by mining exports.

Darwin and Brisbane sit at the wet end. Adelaide and Perth at the dry.

Deviation from the 1961 to 1990 baseline. Every capital has warmed.

Three multi-year droughts since 1900 are visible in the long-run series: WWII drought, the Federation drought aftermath, and the Millennium drought.

Per-capita retail trade by state, monthly.

Food retail is recession-proof. Discretionary categories swing hardest.

Sentiment fell to GFC-level lows through 2022 and 2023, then recovered as inflation cooled.