<p>&nbsp;</p>

<p>A local Australian has spent a Lower North Shore record $15.1 million at <a href="https://www.apartments.com.au/new-apartments/elevate-hume-place-crows-nest-25-hume-street-crows-nest-nsw-2065">Elevate Hume Place</a>, the new TOD above the recently opened Crows Nest Metro Station.</p>

<p>The buyer amalgamated a penthouse and sub-penthouse to create the triplex apartment that will have five bedrooms, five bathrooms, a private rooftop pool, expansive terrace, and panoramic views of Sydney Harbour and skyline. The building is being created by burgeoning developer Third.i, alongside joint venture partner Phoenix Property Investors.</p>

<p>The buyer was drawn to Elevate’s unrivalled connectivity, situated directly above the&nbsp;<a href="https://www.apartments.com.au/developments/crows-nest-nsw-2065">Crows Nest</a> Metro Station, and the vibrant lifestyle precinct that surrounds it. The Metro connects to the CBD in just seven minutes, and Chatswood in four.</p>

<p>[smartcode_project:default project_id=142550 project_image_fid=309367]</p>

<p>Designed by internationally acclaimed architects <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, Elevate draws inspiration from the ancient blue gum forests native to the area. The building is a Net Zero development, created in consultation with Indigenous communities and exceeding sustainability benchmarks. Interiors feature chevron-engineered timber flooring, natural stone benchtops, and premium Sub-Zero Wolf appliances, delivering timeless elegance and next-level comfort.</p>

<p>The exchange of the $15.1 million apartment, follows a recent $5 million sale, and over $30 million currently in expressions of interests. Interest in Elevate’s penthouse stock has surged, reflecting a strong appetite for ultra-luxury residences that combine design excellence with unmatched connectivity.</p>

<p>[smartcode_project:default project_id=142550 project_image_fid=309369]</p>

<p>“We’re seeing a significant uptick in interest from local and international buyers who are prioritising connectivity, sustainability, and lifestyle,” said Callum Billinghurst, Head of Sales at Third.i Group.&nbsp;</p>

<p>“These recent sales are a testament to the vision behind Elevate. It’s not just about luxury finishes or panoramic views, it’s about creating homes that are deeply connected to the city and the community. Buyers are responding to that. They want to live somewhere that offers more than just a postcode, they want culture, convenience, and long-term value. Elevate delivers all of that, and more.”</p>

<p>[smartcode_project:default project_id=142550 project_image_fid=297878]</p>

<p>As part of the Hume Place precinct, Elevate is transforming Crows Nest into Sydney’s most dynamic urban village. Elevate’s unique position directly above the metro, combined with its curated amenity offering, has made it a magnet for buyers seeking a future-proof investment and a vibrant urban lifestyle.</p>

<p>The next release at Elevate is expected later this year.</p>

<p>[smartcode_project_cta:default project_id=142550]</p>


“We’re seeing a significant uptick in interest from local and international buyers who are prioritising connectivity, sustainability, and lifestyle,” said Callum Billinghurst, Head of Sales at Third.i Group


Joel Robinson

Third.i & PPI set Lower North Shore apartment record with $15.1m sale at Elevate Hume Place penthouse amalgamation

<p>Sydney developer Deicorp is set to officially open its <a href="https://www.apartments.com.au/new-apartments/hills-showground-village-castle-hill-2-mandala-parade-castle-hill-nsw-2154">Showground Village</a> precinct in Castle Hill.</p>

<p>NSW Premier Chris Minns will attend the opening on Sunday August 31, alongside&nbsp;Minister for Planning and Public Spaces Paul Scully, The Hills Shire Council Mayor Dr Michelle Byrne, Landcom CEO Alex Wendler, and Deicorp Founder Fouad Deiri.</p>

<p>Located just moments from Hills Showground Metro Station, the centre spans 9,500 sqm across four levels and features 26 specialty retailers as well as a 1,400 sqm public plaza, creating a new community meeting point for shopping, dining, fitness, and everyday convenience.&nbsp;</p>

<p>Showground Village forms part of the Hills Showground Station Precinct, an urban renewal initiative led by Landcom and Sydney Metro that will provide for around 2,300 new jobs over the next 20 years and around 9,000 new homes.&nbsp;</p>

<p>Deicorp was recently approved for another new development next door to Showground Village.</p>

<p>The new five residential buildings in the East Showgrounds Precinct, will see another 873 dwellings delivered, as well as&nbsp;3,500 sqm of open public space in the form of landscaped courtyards, a public park and communal outdoor recreational space including a playground, barbeque area, and outdoor seating.</p>

<p>“This approval will allow us to start construction on a range of beautifully designed, conveniently located apartments and create another vibrant, walkable and well-connected community,” said&nbsp;<a href="https://www.apartments.com.au/developers/deicorp" target="">Deicorp</a>&nbsp;Founder Fouad Deiri.</p>

<p>“These new homes will provide their residents with a seamless connection to jobs and services along Metro North West, and the new&nbsp;<a href="https://www.apartments.com.au/new-apartments/hills-showground-village-castle-hill-2-mandala-parade-castle-hill" target="">Hills Showground Village</a>&nbsp;retail precinct currently under construction."</p>

<p>Deicorp has several thousand apartments in planning and under construction across Sydney, from Zetland and Five Dock to Crows Nest and Macquarie Park.</p>

<p>[smartcode_project_cta:default project_id=133881]</p>


Deicorp, NSW Premier officially open Showground Village, new retail and hospitality hub in Castle Hill

<p>ASX-listed developer Cedar Woods is progressing its plans for its Southbank arts precinct site.&nbsp;</p>

<p>The developer has filed plans, which are now with the&nbsp;Department of Transport and Planning, for a new 20-level tower at&nbsp;<a href="https://www.apartments.com.au/new-apartments/141-151-sturt-street-southbank-vic-3006">141–151 Sturt Street</a>, a 2,718 sqm block opposite the Habitat Filter sculpture.</p>

<p>The proposal seeks to demolish the two-level&nbsp;commercial building, including a small supermarket and medical tenancies, and create a new building with 180 apartments and a focus on an&nbsp;active public realm and arts integration.</p>

<p>&nbsp;</p>

<p><img alt="Southbank site" data-entity-type="file" data-entity-uuid="76a72db6-91ef-43ae-827d-a9cfa72893d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Site.png?VersionId=DZgtB4K6BswVh0QtCs3iLjXaLp0CbcEb" /></p>

<p>&nbsp;</p>

<p>There will be a full mix of apartment configurations, including 28 studio apartments, 16 one-bedroom, 104 two-bedroom, and 32 three-bedroom units.</p>

<p>Retail, creative arts, and residential amenity functions are integrated across the lower levels. A food and drink tenancy is planned to front Dodds Street, while a retail tenancy fronting Sturt Street will be accessed via an elevated walkway. The first floor includes a substantial 734 sqm creative arts space, envisioned to support Melbourne’s growing cultural and digital industries.</p>

<p>Architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has put together the plans. In their&nbsp;Urban Design Report they highlighted the project’s ambition to embed itself within Southbank’s evolving cultural fabric.</p>

<p>A central feature of the design is a through-block link connecting Sturt and Dodds Streets, landscaped with native plantings and embedded with universal access ramps.</p>

<p>“The ramp has been thoughtfully integrated as the primary access point, ensuring universal accessibility for all users,” the report noted, with the link offering “a direct response to the urban planning scheme of creating more green spaces within our communities”.</p>

<p><img alt="Southbank podium" data-entity-type="file" data-entity-uuid="4d24b1b2-d69c-4a11-a11d-ec6df432221c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium.png?VersionId=geWoJyZDmPSLODZ_.PNJ0LvpOmyyCdpo" /></p>

<p>The building’s podium form responds to the mandatory height limits along Dodds Street and maintains a fine-grain interface to adjoining developments. Above the podium, the tower is articulated with recessed balconies and a focus on views toward the CBD and surrounding arts institutions. A communal rooftop recreation deck and indoor lounge are positioned on level four, adjoining seven apartments and providing over 900 sqm of resident amenity space.</p>

<p>Vehicle access and loading will be provided via Dodds Street, with 155 resident car spaces located across two basement levels and the first three above-ground floors. Bicycle storage is more generous, with 226 spaces distributed across resident, staff and visitor needs.</p>

<p>Rothelowman describes the architecture as “humanist,” with ground-level interfaces designed to encourage social interaction and provide a dignified entry for both residents and passers-by. “All street interfaces are crafted to invite and nurture human connections,” the design report states. “The façade transitions to a human scale, providing an approachable and engaging streetscape”.</p>

<p>Cedar Woods, while well-known for its large communities it develops outside of Australia's capital cities, they have recently developed in Melbourne's inner-ring before. They are approaching completion at <a href="https://www.apartments.com.au/new-townhouses/88-leveson-north-melbourne-88-leveson-street-north-melbourne-vic-3051">88 Leveson</a>, just 15 townhouses in the heart of North Melbourne.</p>


Cedar Woods progresses with new apartment plans in Southbank arts precinct

<p>Brisbane developers Core Property Partners and Vector Property Australia has teamed up for Brisbane's newest apartment development.</p>

<p>The duo identified <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as their preferred suburb, on the fringe of the Gabba Precinct, where they've just revealed BANKSII, 72 apartments opposite Raymond Park.</p>

<p>[smartcode_project:default project_id=136432 project_image_fid=5481]</p>

<p>The one-, two-, and three-bedroom apartments will sit in a glass-wrapped building that will also feature a rooftop with an&nbsp;infinity-edge pool, a BBQ area and alfresco dining spaces, sun lounges, and a sauna, as well as a resident-only gym and a ground-floor cafe.</p>

<p>Rhett Williams, Director of Vector Property Australia, said the project will lift the quality of the East Brisbane community and set a new benchmark.</p>

<p>"In Brisbane’s current property landscape, <a href="https://www.apartments.com.au/new-apartments/banksii-east-brisbane-169-wellington-road-east-brisbane-qld-4169">BANKSII</a> stands out through its emphasis on lifestyle-oriented living, connectivity and sophisticated design," Williams says.</p>

<p>[smartcode_project:default project_id=136432 project_image_fid=5479]</p>

<p>The 10-level building has been designed by MAS Architecture. Their designs were inspired by the native Banksia flower, with the architecture and interiors reflecting the organic symmetry of its namesake flora. MAS has interpreted this throughout the building’s curved form, façade detailing and interior palette.&nbsp;</p>

<p>The building’s flowing geometry and natural tones are complemented by large balconies and floor-to-ceiling glazing, maximising cross-breezes, daylight and views over the city, parklands and river.</p>

<p>“Having a strong narrative for a building helps us architecturally,” MAS noted. "We can choose colours that come off that species of flowers. The trunk and the trees and the flower elements all are now visible in our joinery on the inside and in our architectural finishes on the outside."</p>

<p>[smartcode_project:default project_id=136432 project_image_fid=5485]</p>

<p>Apartments will feature timber floors, soft porcelain tiles, brushed bronze fittings, and stone benchtops with warm veining.&nbsp;</p>

<p>Kitchens feature premium SMEG appliances and generous storage, while bathrooms have been designed as calming retreats with curved cabinetry and twin sinks in the master ensuites.</p>

<p>The building will feature a suite of rooftop and wellness amenities. Residents will have access to an infinity-edge pool, BBQ and alfresco dining areas, sun lounges and a rooftop sauna.&nbsp;</p>

<p>A residents-only gym will be located on the podium level, while a ground-floor café and landscaped laneway will further activate the site and improve neighbourhood connectivity.</p>

<p>[smartcode_project:default project_id=136432 project_image_fid=5488]</p>

<p>BANKSII will rise from a prime Wellington Road site, with the building oriented to overlook the adjacent Raymond Park and take in extensive city views. It is also on the doorstep of key&nbsp;lifestyle infrastructure, including the future Kangaroo Point Green Bridge, The Gabba stadium, and the planned Brisbane Live arena.&nbsp;</p>

<p>Public transport options, including ferry, bus and rail - including the future Cross River Rail Woolloongabba station - are all nearby, supporting a car-optional lifestyle just minutes from the CBD.</p>

<p>Williams said the team spent over a year searching for the ideal site before securing this location.</p>

<p>"We were attracted to <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as it is a vibrant and growing community that offers a perfect balance of urban convenience and natural beauty with the parklands and river on our doorstep.”</p>

<p>The project is part of the broader Woolloongabba Games precinct, which is undergoing significant investment in the lead-up to the 2032 Brisbane Olympics. This urban renewal, coupled with infrastructure upgrades, is expected to enhance long-term liveability and capital growth in the area.</p>

<p>Given the wide max of configurations, BANKSII is expected to suit everyone from first home buyers and investors to families and downsizers.</p>

<p>[smartcode_project_cta:default project_id=136432]</p>


BANKSII sales launch in booming East Brisbane apartment market

<p>The Minns Labor Government will deliver Sydney’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around Woollahra and Edgecliff stations, right next to the CBD, to tackle the housing crisis and rebalance growth across the city.</p>

<p>Recent reports by the NSW Productivity Commission have warned that Sydney is losing twice as many young people as it is gaining, while also finding that Woollahra is the most feasible Local Government Area (LGA) in New South Wales to build new housing.</p>

<p>Despite this, housing approvals in Woollahra consistently lag well behind other LGAs, and the population has declined by 11 per cent over the past 50 years while Greater Sydney as a whole has grown by 74 per cent.</p>

<p>The new station that will be an eight-minute trip from Sydney CBD, will be located on the Eastern Suburbs train line in Woollahra, where a station build was started in the 1970s but never completed.</p>

<p>To enable the delivery of new homes the NSW Government will lead a rezoning of Woollahra and Edgecliff stations similar to other state led rezonings to allow additional homes to be built around the stations.</p>

<p>Affordable housing will also make up a proportion of development on the site with the final amount of affordable housing required, to be determined as part of the rezoning process.</p>

<p>The area surrounding the new station is within walking distance of major green and recreational space including Cooper, Trumper, Rushcutters Bay and Centennial Parks.</p>

<p>The Eastern Suburbs train line between Bondi Junction and Sydney CBD also has the lowest passenger usage rates during the AM peak of any line on the Sydney network, with only 43 per cent of operating capacity during the AM peak currently being utilised by passengers.</p>

<p>Sydney Water and Infrastructure NSW have confirmed there is capacity in the water and wastewater systems to accommodate the proposed 10,000 dwellings without major upgrades.</p>

<p>The rezoning is expected to take around two years and will further support the Government’s housing targets that rebalance the delivery of new homes around existing infrastructure.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>


Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney

Household Budgets

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<div>Another data series which doesn't really fit the narrative of tight or stretched household budgets, as trend new car sales moved to their highest ever level in July 2015. </div>
<div> </div>
<div>This follows on from recently compiled Reserve Bank data which shows that mortgage redraw buffers and offset account balances are also at their highest ever level as household enjoy low interest rates and cheaper repayments.</div>
<div> </div>
<div>Of course, it often doesn't feel this way at the individual household level - interviews with the world's wealthiest people have shown that financial stress never entirely goes away whatever the true state of one's personal finances.</div>
<div> </div>
<div><span>The Reserve Bank itself has mused<span>:</span></span></div>
<div><span> </span></div>
<div><em>"The continued concern about living cost pressures might arise because the standard of living that can be sustainably afforded by households’ incomes remains lower than many would like."</em></div>
<div> </div>
<div>Certainly although wages growth is soft at +2.3 per cent, this has to date at least remained well in excess of the increase in the cost of living for employee households.</div>
<div> </div>
<div>
<div><strong><span style="text-decoration: underline;">Record new motor sales </span></strong></div>
<div> </div>
<div>In any event it was another monster month for new motor vehicle sales at a seasonaly adjusted 96,388 which saw trend sales reach an all-time record high in July 2015, having increased by 3.7 per cent over the past year. </div>
<div> </div>
<div>The result was all the remarkable given the weak data evident in the resources states, a slowing rate of population growth, as well as the fact that the Aussie dollar has depreciated sharply in recent times. </div>
<div> </div>
<div><a href="/images/2015/08/19/MV1.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/08/19/MV1.jpg" alt=""></div>
<div> </div>
<div><span>Looking at the "original" data on a rolling annual basis we can see that more than 1.13 million new vehicle sales have been recorded over the past year, while the 588,619 units sold over the past six months is a record for any half year period in Australia's history.</span></div>
<div><span> </span></div>
<div><a href="/images/2015/08/19/MV6.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span><img src="/images/2015/08/19/MV6.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div><span>It was another prodigious month for Sports Utitlity (SUV) sales at more than 34,000 seasonally adjusted from fewer than 30,000 one year ago (a +14 per cent year-on-yearincrease), the annualised number of SUV sales climbing inexorably to beyond 380,000.</span></div>
<div><span> </span></div>
<div><a href="/images/2015/08/19/MV3.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div> </div>
<div><span><img src="/images/2015/08/19/MV3.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div>
<div><strong><span style="text-decoration: underline;">State versus state</span></strong></div>
<div> </div>
<div>New South Wales has been recording a number of king-sized seasonally adjusted results in recent months, firing total new motor vehicle sales to their highest ever level in the Premier State. </div>
<div> </div>
<div>On a rolling annual basis new motor vehicle sales are rising in Queensland too, but are now looking somewhat peaky in Victoria after a fine run. </div>
<div> </div>
<div>Sales have declined moderately in South Australia over the past year, and fairly sharply in Western Australia as the mining construction boom comes undone. </div>
<div> </div>
<div><a href="/images/2015/08/19/MV4.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/08/19/MV4.jpg" alt=""></div>
<div> </div>
<div>
<div><strong><span style="text-decoration: underline;">State trends</span></strong></div>
<div> </div>
<div>The trend year-on-year increase in sales was particular strong in each of the most populous states, those being New South Wales (+8.1 per cent), Victoria (+3.4 per cent) and Queensland (+6.6 per cent).</div>
<div> </div>
<div>While somewhat immaterial at the national level, the surprise package is Tasmania with a trend +13 per cent year-on-year increase in units sold. </div>
<div> </div>
<div>The strength of the data in the three most largest states has more than offset the weakness in South Australia (-4.2 per cent) and the resources-impacted Western Australia (-11 per cent) and Northern Territory (-1.4 per cent).</div>
<div> </div>
<div><a href="/images/2015/08/19/MV7.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/08/19/MV7.jpg" alt=""></div>
<div> </div>
<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
</div>
</div>
</div>
<div><span> </span></div>
</div>
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Stretched household budgets or not? Pete Wargent

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<p><span>The value of new lending commitments to households fell 3.7 per cent in March 2019, seasonally adjusted, according to the latest Australian Bureau of Statistics (ABS) figures on new lending to households and businesses.</span><br><br><span>The fall in lending to households in March follows a 2.2 per cent rise in February 2019.</span></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/13/Lending1.jpg" alt=""><br><br><span>ABS Chief Economist, Bruce Hockman said all components of new lending to households were weaker in March, "more than offsetting a bounce in lending activity seen in February.”</span><br><br><span>“There were large falls in the value of lending for owner occupier dwellings in seasonally adjusted terms in both New South Wales (-5.7 per cent) and Queensland (-5.3 per cent) in March, after rises in both states the previous month" he said.</span></p>
<p>Nationally, lending for investment dwellings also contracted further in March, with the series down 25.9 per cent (seasonally adjusted) compared to March 2018. The level of new lending for investment dwellings is at its lowest level since March 2011. </p>
<p>While nationally there was a fall in the number of loans to owner occupier first home buyers (-0.5 per cent) in March, in a similar pattern to recent months this fall was again much less than the drop in the number of loans to owner occupier non-first home buyers (-3.3 per cent). </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/13/March-ABS.jpg" alt=""></p>
<p>After rises in January and February, lending to households for personal finance excluding refinancing fell 11.2 per cent in March, seasonally adjusted.<br><br>In trend terms, the value of new lending commitments to businesses fell 2.0 per cent in March. The ABS noted all components of business lending remained subdued.</p>
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j.ballantyne1990-6AQqhLzZaK

NSW leads downturn in March new lending commitments to households

jrobinson-rf4aSBido9

What's up (and down) with households? RBA assistant governor Luci Ellis

<html><body>
<p><span style="line-height: 1.3em;">GUEST OBSERVER</span></p>
<p><span style="line-height: 1.3em;">According to the Australian Institute of Petroleum, the national average Australian price of </span><span style="line-height: 1.3em;">unleaded petrol fell 3 cents per litre to 113.9 cents per litre in the week to April 24.</span></p>
<p>The national average wholesale (terminal gate) unleaded petrol price stands at <span style="line-height: 1.3em;">102.4 cents per litre, down 1.5 cents per litre on a week ago and still up 6.7 cents a litre on the lows set in </span><span style="line-height: 1.3em;">mid-February.</span></p>
<p>The petrol figures have implications for retailers, especially petrol marketing groups.</p>
<p>What does it all mean?</p>
<p>The latest data on petrol prices confirms that - contrary to popular belief and media reports – pump prices do not <span style="line-height: 1.3em;">tend to rise ahead of a long weekend. Motorists enjoyed the cheapest petrol ahead of ANZAC Day in 11 years, </span><span style="line-height: 1.3em;">with the national average price falling by 3 cents a litre.</span></p>
<p>As always, competitive factors, the discounting cycles and variable lags between wholesale and retail prices <span style="line-height: 1.3em;">determine how capital cities and regional centres fare. But at present the key driver of pump prices is the </span><span style="line-height: 1.3em;">variations in the discounting cycle across the capital cities. In Sydney, prices have been falling for 18 days and in</span></p>
<p>Melbourne prices have been falling for almost four weeks, with petrol at around $1.08 a litre in both capital cities.</p>
<p>Brisbane prices have been falling for a fortnight and are closer to $1.14 a litre. Adelaide prices spiked a week ago <span style="line-height: 1.3em;">and have started to drift lower. Adelaide motorists would benefit by holding off from filling up the family vehicle.</span></p>
<p>Not only have global oil prices eased in the past week but the Aussie dollar has held up relatively well – ensuring <span style="line-height: 1.3em;">that any saving in regional oil prices should get passed through to the bowser within the next fortnight.</span></p>
<p>In the short term, oil production disruptions in Kuwait and speculation of a further lift in potential supply by major <span style="line-height: 1.3em;">oil producers will keep oil markets volatile. CBA commodity analysts expect oil to potentially drift to US$30-35 a </span><span style="line-height: 1.3em;">barrel in the near term.</span></p>
<p><span style="line-height: 1.3em;">Importantly cheap fuel continues to keep inflation contained and the Reserve Bank will keep an implicit easing </span><span style="line-height: 1.3em;">bias in play over the next six months.</span></p>
<p><a href="/images/2016/04/27/Screen%20Shot%202016-04-27%20at%209.57.20%20AM.png" target="_blank"><span style="line-height: 1.3em;">Click to enlarge</span></a></p>
<p><span style="line-height: 1.3em;"><img src="/images/2016/04/27/Screen%20Shot%202016-04-27%20at%209.57.20%20AM.png" alt=""></span></p>
<p>What do the figures show?</p>
<p>Petrol prices</p>
<p>According to the Australian Institute of Petroleum, the national average Australian price of unleaded petrol fell <span style="line-height: 1.3em;">3 cents per litre to 113.9 cents per litre in the week to April 24. The metropolitan petrol price fell by 4.9 cents to </span><span style="line-height: 1.3em;">113.6 cents per litre while the regional price rose by 0.9 cents to 114.5 cents per litre.</span></p>
<p>The national average Australian price of diesel petrol fell by 0.2 cents to 111.8 cents per litre in the week to <span style="line-height: 1.3em;">April 24. Last week the metropolitan price fell by 0.3 cents to 110.6 c/l, while the regional average price was down </span><span style="line-height: 1.3em;">0.1 cents to 112.8 c/l.</span></p>
<p>Average unleaded petrol prices across states and territories over the past week were: Sydney (down 9.3 <span style="line-height: 1.3em;">cents to 108.5 c/l), Melbourne (down 6.2 cents to 111.5 c/l), Brisbane (down 7.8 cents to 118.9 c/l), Adelaide (up </span><span style="line-height: 1.3em;">6.7 cents to 124.4 c/l), Perth (up 1.2 cents to 111.5 c/l), Darwin (down by 0.3 cents to 115 c/l), Canberra (down </span><span style="line-height: 1.3em;">0.7 cents to 115.9 c/l) and Hobart (unchanged at 117.4 c/l).</span></p>
<p>Today the national average wholesale (terminal gate) unleaded petrol price stands at 102.4 cents per litre, <span style="line-height: 1.3em;">down 1.5 cents per litre on a week ago and still up 6.7 cents a litre on the lows set in mid-February. The terminal </span><span style="line-height: 1.3em;">gate diesel price stands today at 98.5 cents a litre, up 0.2 cents a litre over the week.</span></p>
<p>Last week the key Singapore gasoline price rose by US$1.75 or 3.2 per cent to US$56.10 a barrel. However <span style="line-height: 1.3em;">prices eased yesterday to US$55.30 a barrel. In Australian dollar terms the Singapore gasoline price rose by </span><span style="line-height: 1.3em;">$2.13 a barrel (0.2 per cent) to $72.61 a barrel or 45.7 cents a litre. Yesterday prices eased to $71.73 a barrel or </span><span style="line-height: 1.3em;">45.1 cents a litre.</span></p>
<p>MotorMouth records the following retail prices for capital cities today: Sydney 108.1c; Melbourne 107.5c; Brisbane <span style="line-height: 1.3em;">113.7c; Adelaide 119.4c; Perth 120.5c; Canberra 107.5c; Darwin 113.8c; Hobart 117.8c.</span></p>
<p>What is the importance of the economic data?</p>
<p>Weekly figures on petrol prices are compiled by ORIMA Research on behalf of the Australian Institute of <span style="line-height: 1.3em;">Petroleum (AIP). National average retail prices are calculated as the weighted average of each State/Territory's </span><span style="line-height: 1.3em;">metropolitan and non-metropolitan retail petrol prices, with the weights based on the number of registered petrol </span><span style="line-height: 1.3em;">vehicles in each of these regions. AIP data for retail petrol prices is based on available market data supplied by </span><span style="line-height: 1.3em;">MotorMouth.</span></p>
<p><a href="/images/2016/04/27/Screen%20Shot%202016-04-27%20at%209.59.05%20AM.png" target="_blank"><span style="line-height: 1.3em;">Click to enlarge</span></a></p>
<p><span style="line-height: 1.3em;"><img src="/images/2016/04/27/Screen%20Shot%202016-04-27%20at%209.59.05%20AM.png" alt=""></span></p>
<p>What are the implications for interest rates and investors?</p>
<p>Lower oil prices may add further downward pressure on energy stocks and increase volatility across <span style="line-height: 1.3em;">sharemarkets. However cheap fuel is a positive for a number of sectors including transport and logistics.</span></p>
<p>Filling up the car with petrol is the single biggest weekly purchase for most families. So the savings being reaped <span style="line-height: 1.3em;">at the petrol bowser are serving to boost discretionary spending in areas such as cafes, restaurants and takeaway </span><span style="line-height: 1.3em;">outlets.</span></p>
<p><em>Savanth Sebastian is an economist for <a href="https://www.commsec.com.au/" target="_blank">CommSec</a></em></p>
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