MacroBusiness

MacroBusiness is Australia’s top blog focusing on business and investment topics. Its goal is to connect the gap between the Australian business media and the actual economic situation. The existence of this gap, without the need for strict control, highlights the influence of vested interests, monopolies, ineffective governance, narrow-minded ideologies, and a longstanding culture of populism. As a result, our leaders can make significant economic and business mistakes without facing proper accountability, often being judged by unsuitable standards.

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Developers demand migrants to build homes for migrants

1 week ago | macrobusiness.com.au | Leith van Onselen

Developer Nigel Satterley has called for more skilled migration to help ‘solve’ the housing shortage. Nigel Satterley, whose Satterley Property Group is the nation’s largest privately owned residential land developer, claimed that Australia had suffered an annual shortfall of 40,000 homes for over a decade. He claimed that without immigration changes to bring in more skilled workers, the situation wouldn’t improve.
One thing politicians agree on: higher house prices

1 week ago | macrobusiness.com.au | Leith van Onselen

Late last year, I attacked Labor housing minister Clare O’Neil for stating that Labor wanted house prices to rise at a “sustainable” rate. There you have it. The Albanese government does not want housing prices to fall at all. Source: https://t.co/EmndvZlkhg pic.twitter.com/ZDqYVsvU13 — Tarric Brooker aka Avid Commentator 🇦🇺 (@AvidCommentator) December 10, 2024On Monday, Opposition leader Peter Dutton repeated the line, saying that the Coalition wants to see house prices “steadily increase”.
A beautiful house price crash

1 week ago | macrobusiness.com.au | Leith van Onselen

While Australia’s two major parties are busy blowing the world’s largest house price bubble, New Zealand’s politicians are letting their house prices slowly deflate, restoring affordability. The REINZ house price index remained muted in March, rising 0.2% over the month to be 0.4% lower than a year ago. Major bank ASB noted that New Zealand remains well supplied with homes amid softer demand, driven in part by lower immigration.
Opinion polls collapse on Peter Dutton

1 week ago | macrobusiness.com.au | Leith van Onselen

Another day, another poor opinion poll for Peter Dutton and the Coalition. This week’s Roy Morgan poll shows Labor’s two-party support lifting to 54.5% (up 1% from a week ago), nine percentage points ahead of the Coalition’s 45.5% (down 1% from a week ago). Therefore, Labor would win an increased majority if the election were held now.
Australian Conservation Foundation is morally bankrupt

1 week ago | macrobusiness.com.au | Leith van Onselen

The Greens have performed best in the Australian Conservation Foundation’s (ACF) pre-election scorecard, receiving a rating of 98% for their environment and climate change policies. Labor was given a rating of 54%, with ACF CEO Kelly O’Shanassy praising policies such as its commitment to renewable energy and a continued ban on nuclear power. However, she said Labor was marked down over policies such as environmental protection laws and approvals for new coal and gas projects.
Dutton's gas plan must be bipartisan

1 week ago | macrobusiness.com.au | David Llewellyn-Smith

So says Labor legend Jenny George. The Australian. Regular warnings about gas shortages in Victoria are troubling. Despite its opposition to fossil fuels and having the highest renewables targets, Victoria is considering importing gas, underwritten by the public, at an estimated cost upwards of $20 a gigajoule. It makes no sense. Market failure is the consequence of the Gillard government’s rejection of a gas reservation scheme in 2012.
Pick your housing poison

1 week ago | macrobusiness.com.au | Leith van Onselen

On Monday, I spoke to Ben Davis on Brisbane Radio 4BC Mornings to unpack the housing policies announced by Labor and the Coalition over the weekend. I described these as “some of the worst policy making I’ve seen in my 47 years of life”.
Iron ore dances on a pin

1 week ago | macrobusiness.com.au | David Llewellyn-Smith

The ferrous market is not strong. Data is all over the place. We’ve had strong Chinese credit, but much of it is debt swaps with only marginal growth impact. Goldman. March total social financing (TSF) flows and new RMB loans came in above market expectations, mainly due to strong expansion of short-term corporate loans.
India drives unprecedented international student boom

1 week ago | macrobusiness.com.au | Leith van Onselen

Kevin You, Senior Fellow at the Institute of Public Affairs, published research on the record boom in international students and temporary migrants. Dr You noted that there were a record 111,740 net permanent and long-term arrivals into Australia in February 2025, a daily average of 3,991. “That’s approximately 3 arrivals a minute on a net basis”.
The Greens lie on immigration's housing impacts

1 week ago | macrobusiness.com.au | Leith van Onselen

Steve Austin from ABC Radio Brisbane interviewed me about the Greens’ housing spokesman Max Chandler-Mather’s claim that immigration does not negatively impact housing affordability. Chandler-Mather told Austin that targeting migrants was “scapegoating”:The full text of this article is available to MacroBusiness subscribers$1 for your first month, then:Cancel at any time through our billing provider, StripeLeith van Onselen is Chief Economist at the MB Fund and MB Super.