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Inflation

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I'm in 40 camp.
I think the journo's with mega mortgages are trying to talk it down.

In the real world, outside of Sydney/Melbourne, things are still bubbling along, what's the old saying?
"The higher you go, the further you fall". Could be the house prices in some areas.

Nick Scali delivers record revenue, no slowdown yet​

RBA’s flurry of interest rate hikes since May are not hurting furniture sales for Nick Scali which has posted record revenue and a boom in furniture orders for the start of 2023.
 
waterbottle said:
Australian retail sales down 3.9% MoM. Didn't the US have similar results? Is the consumer in trouble?
Click to expand...
those with large debt commitments would be , at best official rates will only plateau in the near term , meanwhile other costs will edge up
 
waterbottle said:
Australian retail sales down 3.9% MoM. Didn't the US have similar results? Is the consumer in trouble?
Click to expand...

Depends on where you look, and the time frame.

 
JohnDe said:
Depends on where you look, and the time frame.
Click to expand...
first NCK seems to be an outlier in the consumer discretionary sector

then you have to second guess where the new sales are coming from

are the customers improving the home ready for extra residents ( mum , dad , or adult kids ) , are there still some 'home-flippers ' operating or maybe air BNB investors are coming back into the game
 

I didn't realise that AirBNB investors left the market. From my sources they had a bumper holiday period, huge profit increase compared to the same period last year.

As for "improving the home ready for extra residents (mum, dad, or adult kids)", They must be very well off to purchase premium furniture for such projects, when there are the likes of Ikea and Freedom. But each to their own.
 
given that virus scare and the resultant travel restrictions i would have thought buying a new property to BNB would have been less popular not to mention solid house prices during that period , now sure existing BNB players could have switched to short-term leases ( 3 or 6 months ) ( and replaced the worn furniture later )
 

I'm not sure what you mean by short term leases of 3 to 6 months.

The AirBNB owners I know rent by the day or week, no leases, and 30 days is the maximum allowable by the rules in place. Not many change the furniture, demand for the properties was extremely high, it is more common to change the TV than furniture.
 
This table from The ABS was released today.


from it we can see that Volume of sales has dropped by 0.2 percent over the quarter, which suggests that the majority of the fall was due to prices easing.
This is reflected in the YOY comparison to the 2021 quarter., where volume of sales was up around 1.8%, but the value was up 7.5%, suggesting that most of the sales increases were due to price increases.
When you look at the various categories for the retail sales from the same page,



It would seem that non food items were where the contraction mainly took place.
When you look at the non seasonality adjusted sales, things seems somehwat more rosy (depending on your viewpoint).


And finally, eating out is almost immune to anything.



Mick
 
Disregard the first part of my previous post, i just realised that for some reason, the ABS shows monthly dollar sales, but then the comparison under neath is quarterly volume sales.
Sorry about that.
I should have read those headings more closely.
Me culpa.
Mick
 
sptrawler said:
Is that compared to Christmas spending? ?
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Nah, its a rehash of the December figures. The talk is that much of the "normal" christmas spending was brought forward into November because of the black Friday sales, Halloween etc.
I am surprised they don't include Thanksgiving, we seem to have got every other scammy celebration from America.
Mick
 
Almost as if there's a few economies staring down the proverbial barrel at the moment huh?

Another degen FNGU buy at 420 tonight.
 
just part of the cultural genocide they are planning so we blindly follow into 'wokeist cultural'

these poor clowns must think we are all silly school-girls who can get crushed by social isolation ( not understanding the smaller the 'in-crowd' , the less relevant they are )
 
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