# WILSON WEEKLY Ep 147 | Labour Market Strength, Rising Build Costs and a Spring Auction Surge

An episode of [Money Mentor Podcast™](https://invisiblenetwork.ai/podcast/1632604767), 21 Nov 2025, 31 min.

Audio: https://episode.flightcast.com/f4me6dzuwoxzaczv882e8xrw.mp3

This week on Wilson Weekly, Rachel Howlett and Doctor Andrew Wilson break down the key forces shaping Australia’s property market as we head into the final stretch of the year. A stronger labour market, rising house building costs and a spring auction season overflowing with listings are giving buyers more choice than they’ve had in months. Doc unpacks what this means for affordability, seller competition and the broader economic outlook. Plus, we take a closer look at the data behind auction behaviour, construction pressures and how these trends are setting the tone as we move into December. Straight talk. Clear insights. Evidence based as always. Tune in to stay ahead of the market. Discover our new tool: What's My Rental Home Yield? Money Mentor YouTube Channel: @moneymentorau Link to Dr. Andrew Wilson on LinkedIn: / dr-andrew. If you enjoyed our podcast, make sure you follow and subscribe to stay up to date with the latest episodes.

## Transcript

[0:03] Welcome back to Wilson Weekly on the Money Mentor Podcast.
[0:06] This is your weekly dose of straightforward data and real-world property smarts.
[0:11] I'm Rachel Howlett, your Money Mentor, and of course, I'm here with the man who reads the economy like it's his morning paper, Dr. Andrew Wilson.
[0:19] This week, we've got a strong labour market.
[0:22] We are seeing building costs heading up again and a spring auction market that's giving buyers more choice than we've had in some months.
[0:28] Let's get into it.
[0:30] Yes, Rachel, it is the end of the year.
[0:32] Well, just about.
[0:33] And we're seeing what usually happens at the end of the year in terms of our auction markets, particularly lots of choices for buyers, lots of competition for sellers and lots of sales happening under the hammer.
[0:44] We'll look at that at the end.
[0:46] But before that, we've got some really interesting news on the labour market, of course, and on house building costs, which not so much good news there.
[0:56] But let's get going.
[0:59] There it is.
[1:00] Okay, so the Wilson Weekly every week, every week, of course, is brought to you by My Housing Market and the good folks at Infinity.
[1:07] Rachel Howlett and myself discuss all the latest news in the housing market and it's all about what's happening here and now.
[1:14] So you get to make those real-time decisions on property with as much real-time information as you can get.
[1:20] And that's what we do here because we're all about the current state and future prospects of your housing market.
[1:26] So...
[1:27] Let's get started.
[1:29] It is the week ending Wednesday, November the 19th.
[1:32] They're just flying.
[1:33] In fact, the whole year's just flown past, hasn't it, Rachel?
[1:37] It really has.
[1:38] Yeah, and we'll be saying hi again to 2026 or saying hi to 2026 before you know it.
[1:44] But plenty of information to come before we do that.
[1:49] And we'll start off this week, as I said, with the latest labour market data.
[1:53] It's been the focus, the labour market, particularly over the last two months, because there were signs that perhaps things were starting to ease after a very strong period in the labour market.
[2:04] But we've got to bounce back, which I guess we sort of discussed last month anyway, Rachel, that perhaps it was just, as ABS indicated, a one-off, that decline in the unemployment rate or the increase in the unemployment rate.
[2:18] over September.
[2:19] We've also got house building costs and look, not so much good news there for those building a house because we're seeing prices on the rise again, house costs, building costs as well as prices on the rise.
[2:32] And, um,
[2:33] The outlook's not so good there.
[2:35] So we discussed the reasons behind that, which are a little problematic.
[2:40] And as usual, as I discussed before, as I mentioned before, the latest weekly auction results as our season grinds to a halt with still lots of fire in it.
[2:49] So let's get started with the latest labour market data, Rachel.
[2:54] Of course, the labour market is still strong and it's really been strong now for a couple of years since the COVID bounced back.
[3:02] And not as strong as it was a year ago, marginally weaker, but still weaker.
[3:09] Pretty good news out there if you're looking for a job.
[3:11] And next week, we're going to look at wages next week, Rachel, which we don't see.
[3:16] We're going to get the data every three months now.
[3:18] And that will be interesting to see whether this strong labour market is translating into higher wages.
[3:24] And as we know...
[3:25] We've still got some stress in the economy through higher prices following that significant rise in inflation we've had in the post-COVID period.
[3:35] So that will be interesting to see as well.
[3:37] But let's concentrate on the labour market data for October.
[3:42] The unemployment rate fell to 4.3%, Rachel, down from 4.5%.
[3:48] Number of jobs surged up 42,000.
[3:51] The number of unemployed were actually down 17,000.
[3:54] So a surge upwards in jobs and a surge downwards in the number of unemployed.
[3:59] So that's why we got a lower unemployment rate.
[4:03] And, of course, what kept that lower because of the relationship between more jobs and fewer jobless was the fact that the participation rate remained steady at that near record high of 67%.
[4:17] As I said, it is interesting that we've continued to see a strong result in our labour market.
[4:28] Participation rate's still high and the top performing states are
[4:33] where Western Australia and Queensland with the lowest unemployment rates of 4.2%, just below the national rate.
[4:43] And of course, those lower interest rates this year, Rachel, have continued to support our economy, and that means our labour market.
[4:51] And as we discussed when the last month's figures came in, and if you remember, Rachel, we were confirmed,
[4:56] We were confronted with a lot of very negative headlines when we did get that September result.
[5:01] It was the highest unemployment rate we'd had in some time, and it was doom and gloom, depression, recession, take your pick.
[5:09] And we were like, well, I think you've gone a bit early here, guys and gals, whoever was making the doom and gloom forecast.
[5:17] But it's like catnip to many commentators out there.
[5:20] They just can't help themselves.
[5:22] And we did say that, well, look, given that October, November, December are likely to see a surge in people coming into the workforce because we do have Black Friday in November.
[5:33] We, of course, have Christmas shopping.
[5:35] And that means more people into the workforce, particularly part time and casuals.
[5:39] because there is more spending going on, more demand in the economy.
[5:42] And of course, it's sort of worked out that way, even over October with, well, October in anticipation of increased demand through Black Friday and the pre-Christmas shopping period with jobs up 42,000.
[5:56] So we are nothing if not rational here, Rachel.
[6:00] We get a big tick from our viewers and listeners because of that.
[6:03] So without trying to pat myself on the back too much or ourselves on the back too much, it was a very good result going forward.
[6:12] When we have a look at the historical record of unemployment, that also reveals that we still have a low unemployment rate.
[6:21] even though we ticked up last month and the month before, and we then readjusted downwards this month to 4.3%.
[6:29] It's still very much in line with the unemployment rates.
[6:33] In fact, in some instances, better than the unemployment rates we've had during periods of very strong growth.
[6:40] We really have to go back to that trend.
[6:43] The first mining boom in the early noughties and the mid noughties, if that's what they're called.
[6:47] And we're just above that.
[6:48] And we're also lower than where we were during the mining boom in 2011 and 2012.
[6:57] So it's still a very positive unemployment rate and reflecting what is still a robust and should we say really a still strong economy.
[7:08] And we're only a couple of percent higher than where we were over October last year, Rachel, where we're at 4.1%.
[7:18] So look, this is still a very positive economy.
[7:22] I mean, the business cycle has been up for so long.
[7:25] It's called a cycle for a reason because it goes up and then it comes down.
[7:29] It does fluctuate.
[7:32] And we were expecting some easing from those very low unemployment rates we had through 2003 and 2004, which were near record low unemployment rates.
[7:44] so this is still very much good news and the big picture is Rachel in terms of interest rates there's nothing really for the Reserve Bank to get too excited about here in terms of its monetary policy if we had have seen
[8:01] An increase in unemployment again, maybe pushing up towards five.
[8:05] Maybe the Reserve Bank would have started to rethink, does the economy need more stimulus to support the labour market?
[8:12] But this is just really a little bit of situation normal in terms of the Australian labour market.
[8:18] And I do think for the Reserve Bank to...
[8:21] logically get interested in perhaps stimulating the economy through lower rates.
[8:26] We have to have an unemployment rate at least with a five in front of it going forward.
[8:32] And we're really nowhere near that at this point of time.
[8:35] And I think this is quite a sustained easing in the business cycle, if that's what it is, still providing plenty of positivity out there in the workforce.
[8:45] And as we mentioned, the participation rate,
[8:49] is still at that near record 67%.
[8:52] And when we go back to previous periods, we can see how far ahead we are back to that early noughties mining boom, that big mining boom Australia experienced.
[9:01] We're still well above there.
[9:02] So of course, the participation rate measures the proportion of the working age workforce potential or the working age workforce potentially that are actually working.
[9:13] So we're
[9:14] We're still finding plenty of opportunities there for those wanting to get into the jobs market.
[9:20] And, yeah, look, most of the states are still recording.
[9:24] In fact, all of them in the fours.
[9:26] Victoria, the outlier there at 4.7%, but not too far ahead of the rest.
[9:32] But all our states are marginally higher than where they were a year ago.
[9:36] Again, just reinforcing, Rachel, the...
[9:40] that we're just seeing an easing over the business cycle and still, you know, nothing, as I said, to get too excited about in terms of interest rate policy particularly.
[9:55] I think the main game will still be on inflation going forward into 2026, but we await the data coming through.
[10:04] Yeah, I definitely agree with you there, Doc.
[10:05] We're seeing that participation sitting at that 67%, as you said, that's close to a record.
[10:11] You did speak to that being largely due to job availability.
[10:15] Yes.
[10:16] We also see this because of population growth or cost of living pressures, pushing more people into the workforce as well.
[10:24] Yeah, look, that's a really good point, Rachel.
[10:26] And we should understand that it's, you know, that high participation rate could be A, because there are plenty of job opportunities out there.
[10:35] Of course, it's consistent.
[10:36] So as our population grows, if the participation rate remains stable, it means we're still providing the same job opportunities regardless of population growth.
[10:46] But you're right, we have had a period of...
[10:48] of a strong record participation rates.
[10:53] And maybe that's because there's plenty of motivation, not just for those that perhaps have retired or perhaps have been self-employed, looking to get into the workforce because of those opportunities, but maybe there's some motivation there for people needing to find more work because we have come through this period of very high inflation.
[11:14] And still, of course, costs are still, even though inflation has,
[11:19] has eased, it still hasn't fallen.
[11:22] So prices are still a lot higher than they were a couple of years ago.
[11:27] And that does put pressure on household budgets.
[11:30] And that can be a motivating force for, you know, for those to get into the workforce.
[11:37] And maybe that's part of the
[11:38] the reason for that high participation rate.
[11:42] But nonetheless, on the face of it, it's still a good statistic going forward.
[11:46] So we'll embrace it as it is, and we await to see next week.
[11:51] We've got some really interesting data because we will get the latest inflation data out, which will certainly focus the Reserve Bank for its next meeting in December.
[12:01] So that's our labour market data.
[12:03] A little bit, as we sort of expected, a bounce back from or an improvement from what happened over September.
[12:09] So we move on.
[12:12] Not so much good news for house builders or those that are building a house, Rachel.
[12:19] We've seen, which has been interesting over the last six months or so, another increase in house building costs.
[12:26] And this isn't just important for those that are building a house, obviously not wanting to pay more, but also for our supply issues here, because higher house building costs are a constraint for builders getting on with their projects.
[12:43] You know, it can constrain the profitability, obviously, of projects.
[12:47] which can mean some of those high numbers of building approvals that we've had, although particularly for units, not so much houses, it can put them on hold or certainly restrict the timeline to turn those approvals into completion.
[13:06] So let's have a look at the data.
[13:09] We did see an uptick after a falling away the previous month in August.
[13:13] We did see an uptick in the My Housing Market House Building Cost Index just rising again.
[13:21] We can see really over the past year we've seen a breakout in house building costs.
[13:26] Started to improve in the middle of the year but now rising again.
[13:31] And I think the interesting thing when we look at the index index,
[13:35] is the growth since that breakout in 2021.
[13:39] Of course, the surge in house building costs was due to the previous government's home builder allowance, which created a surge in demand.
[13:50] We didn't have the building materials or the labour to cover that demand.
[13:54] Of course, that meant that house building costs went through the roof.
[13:58] And as that demand started to ease, we saw the index also easing.
[14:05] But if we look back to where the price surge started, Rachel, in 2021, prices have actually increased by 60% over that four-year period.
[14:17] Of course, that's an average of 15% a year, Rachel.
[14:21] You know, you're paying 60% more for a house to build a house now than you did four years ago.
[14:31] So that's a sort of a really sobering statistic.
[14:34] And even though we did see some easing, we didn't see it falling.
[14:39] going forward.
[14:39] And when we look at the actual annual growth now, and that's what the ABS looks at, it's part of their obvious basket of goods.
[14:45] It's a significant part in their housing costs measure.
[14:51] It's now up 6.6% over the past year.
[14:54] So it's...
[14:55] certainly ahead of where it was a year ago where it increased by 2.8%.
[15:02] It's really becoming a concern, not just for those building a house and for the industry, but also in terms of what it's doing to inflation, which due to other factors, particularly electricity, has been focusing the Reserve Bank over the last couple of months.
[15:23] Up 6.6% over the past year.
[15:26] And, of course, the peak during that surge in demand was 23.2% back in the end of 2022, Rachel.
[15:35] So it's a lot better than it was then, obviously.
[15:38] But the long-term position before that COVID breakout or the stimulus package breakout was...
[15:45] was around about 2% or 3%.
[15:48] And now we're starting to look like we're building a floor at around about 5% plus going forward, which is not good news, Rachel, not just, as I said, for inflation, but also for those building a house.
[16:03] And, of course, for Australia trying to solve its undersupply problem by having more dwellings in the marketplace.
[16:10] Yeah.
[16:11] Yeah, as you said, it's been a really weird year for the housing price, the build cost data, where we've kind of seen, we haven't seen that consistency and they are back on the rise over September.
[16:22] What's behind this renewed upward pressure after what looked like we might have some easing, but like we said, pretty weird inconsistency?
[16:30] Yeah, and we expected that easing to continue because the building industry, typically the house building industry, is very competitive.
[16:38] You know, its margins are quite small.
[16:42] And that's why we've traditionally seen maybe 2% or 3% escalation in costs annually over the longer term.
[16:50] But I think there's a couple of reasons here that we can speculate on, Rachel.
[16:56] One is that...
[16:58] Perhaps there's now an expectation in the industry that 5% or 6% is what you should be putting on top of your tenders, on top of your bids, and it becomes sort of an expectation and it reinforces itself.
[17:13] because everybody's saying, okay, well, I'm just going to add 5% per annum when I'm putting my bid in.
[17:19] So it becomes like inflationary expectations.
[17:23] It becomes the same sort of scenario for building inflation expectations.
[17:29] So I think there's a little bit of that, and that's very concerning, because that's very hard to shift around.
[17:35] And usually the only thing that shifts that downwards is a downturn in the building industry.
[17:40] Yeah.
[17:41] where things do become really competitive.
[17:44] I think also we had a, we can't really put this down to a surge in activity or issues in activity because house building is actually eased this year overall.
[17:57] It's still growing, but not at the same rate it was.
[18:00] But there could be something in that as well that, you know, high demand in early days, again, for house building has pushed up prices, created shortages.
[18:12] But we have had a remarkable surge, almost an unprecedented surge, Rachel, in apartment approvals.
[18:20] And maybe that's starting to work its way into the cost base of houses as well.
[18:25] Now, they are dissimilar to a large degree, but not completely dissimilar.
[18:29] There are obvious tradespeople that work in the apartment space as well as the house space, as well as materials which are common to both house building and apartment building.
[18:42] So maybe that incredible surge we've seen, particularly in New South Wales,
[18:47] sorry, Sydney and Melbourne, and also on the Gold Coast and in Brisbane, is starting to impact demand or the supply of building materials generally going forward.
[18:58] So I think there might be a little bit of that.
[19:00] And this is the problem, I guess, is when you are motivated, as New South Wales and Victorian governments particularly are motivated to provide more supply
[19:10] They're doing that, especially with apartment building approval surging in Melbourne and Sydney.
[19:16] The other end of that is that do you have the supply side inputs to be able to manage that surge?
[19:25] And the problem is we're seeing approvals.
[19:27] And now they're now starting those approvals over the past year, which have been very high for apartments, are now starting to get out of the ground.
[19:35] And that's probably putting pressure on prices.
[19:38] I think it's a little bit to do with that as well, as well as expectations.
[19:42] So you can't win, can you?
[19:44] You're undersupplied.
[19:46] You do the right thing trying to get more...
[19:48] trying to get more dwellings into the marketplace.
[19:52] But what you do is you create higher prices because of the high building costs, because you don't have enough tradespeople or materials to cover all that extra supply that you've brought in.
[20:06] And how do you create more, particularly tradespeople in the shorter term, and that's always been a conundrum with the building industry, is that it's very difficult to accelerate the growth of tradespeople in the industry.
[20:20] So I think there's a little bit of that.
[20:22] You're sort of damned if you do and you're damned if you don't, but it looks like increased supply increases.
[20:27] at the ground level, at the approval level, may be pushing up prices, which is just going to create higher prices again and more constraints for those wanting to build a house and also create problems for builders trying to make a profit.
[20:45] Yeah, thanks, Alan.
[20:46] All right.
[20:47] Yep.
[20:47] So a little gloomy, but we're first here with the news.
[20:51] You hear it here first, of course.
[20:52] It's very important, though, that building, that house building index that we run every month.
[21:02] So let's have a look to finish off with the latest weekly auction results.
[21:05] We are in the back end of the spring selling season, which is typically engaged through the seasonal impacts of higher listings.
[21:14] And as the market winds down for the end of the year, lots of choices now for buyers, as I said before, lots of competition for buyers.
[21:22] for sellers.
[21:23] Clearance rates eased a little bit.
[21:25] We do see that towards the end of the season every year, Rachel, despite or regardless of what's happening with the cycle itself.
[21:32] Clearance rates are still very much in favour of sellers, but they are, as I said, being confronted with a surge in listing numbers across the board.
[21:43] But what it means is that even though clearance rates are a little lower, Rachel, in sales,
[21:48] in response to big numbers of auctions coming into the market, the number of sales of actual properties being sold under the hammer is rising because even though the clearance rates are a little lower, there's so many properties that are coming into the market, it means the number of sales...
[22:05] is actually continuing to rise and at very high numbers.
[22:08] So I guess lots of people who are happy either with the Christmas present of a new home or the Christmas present of selling their existing home.
[22:17] So that's the news there.
[22:19] Now let's have a look at the data.
[22:20] Sydney, 1,572 auctions.
[22:23] These are big numbers of auctions for that Sydney market.
[22:26] Similar but higher than the week before.
[22:29] Yeah.
[22:29] Very similar clearance rates, a very high number of sales being conducted in the Sydney market.
[22:36] Still tracking ahead of it where it was a year ago in terms of the clearance rate, but auction numbers well ahead of where it was a year ago.
[22:45] Big weekend in Melbourne, 1,500 auctions.
[22:48] Unusual really to see Melbourne not having as many auctions as the Sydney market at this time of the year.
[22:55] But nonetheless, significant number of auctions, 1,500.
[22:58] Clearance rate just dipped under 70% for Melbourne for the first time in a couple of months.
[23:04] And it was a big rise in auction numbers.
[23:06] So that explains it to some degree, end of year easing through seasonal impacts.
[23:12] But when we look at the comparison to a year ago, Rachel, we can see the clearance rate continues to be well ahead of where it was a year ago.
[23:23] And that, again, as I said, irrespective of the cyclical nature of the, we always see an easing in clearance rates, irrespective, that reflects,
[23:33] the cyclical nature of the market, which was weaker in Melbourne a year ago.
[23:38] And we saw lower clearance rates because of that.
[23:40] So Brisbane, big weekend in auction again, 210 auctions in Brisbane.
[23:45] Very strong clearance rate for Brisbane.
[23:47] 58% for Brisbane is a very strong result.
[23:50] We know that Brisbane market, we can really continue to call a boom time market.
[23:56] Strong results there, well ahead of a year ago.
[23:59] Adelaide similar numbers of auctions and the clearance rate again higher than a year ago and Canberra maybe just been easing slightly from what was 70% clearance rates over the past month but still solid results there 62% with the same number of auctions as the as the week before and still higher than where it was a year ago and Rachel when we look at the comparisons of the capital cities over the month so these are the full month
[24:28] clearance rates and November to date, we can see the same sort of pattern peaking in early spring and then easing as the spring season progresses.
[24:38] We do see that every year, but in Sydney still very much a seller's market there in the mid-70s continuing.
[24:44] And as I mentioned, high numbers of sales being conducted in Sydney.
[24:48] Same story there in Melbourne, just easing almost an identical pattern there to the Sydney market.
[24:55] Brisbane picked up so far over November compared to October.
[25:00] So just bucking the trend a little bit there.
[25:02] That very strong Brisbane market with anything over 50% in Brisbane represents a clear seller's perspective, a clear seller's market in Brisbane, has a different culture there for auctions compared to the other capital cities.
[25:16] Adelaide, I guess a little similar there to Brisbane, picking up a bit after a slower October and very strong result there.
[25:24] Australia's strongest auction market, the Adelaide market and similar to Sydney, Canberra market just starting to ease.
[25:33] Maybe a little disappointing Canberra market recently given it looked to be in catch up mode, but nonetheless a similar seasonal effect there in that Canberra market.
[25:43] If you're looking for the latest auction results, Rachel, which are really important to get hold of every week, that's why we discuss them here weekly because it does give you a great insight to what's happening generally in the housing market, in our capital cities.
[25:57] You can get a look at the snapshot every Saturday night around 6 o'clock
[26:01] at my LinkedIn channel, which is Doc Andrew Wilson at LinkedIn.
[26:04] And if you're looking for the full national report, that's released Sunday mornings and that gives you the regional breakdowns for Sydney and Melbourne, which are quite interesting to see how the segments of the market are performing as well as the top 10 sales under the hammer over the week for each of the capital city markets.
[26:23] If you've missed that,
[26:24] the latest weekly or sorry, weekly national report.
[26:28] There it is, a QR code, which you can scan and that will give you a PDF copy of the latest national weekend report.
[26:38] And as usual, the biggest giveaway in property, Rachel, we provide our listeners and viewers every week.
[26:43] It's the My Housing Market Infinity Suburb Data app.
[26:46] We focus here on top level markets, that is capital cities, but we need to also understand what's happening today.
[26:53] at the ground level in terms of suburb activity.
[26:56] So if you want to know what's happening in your suburb or a particular suburb that you're interested in, the My Housing Market Suburb app looks at or provides data for every suburb in Australia that has data and it's provided in real time so you know exactly what's happening.
[27:13] The data is based on asking prices and asking rents.
[27:17] So it's what's being listed in the market currently as we speak.
[27:21] So it tells you what agents and vendors are pitching in terms of prices and rent.
[27:27] So it's a great insight into market energy at the moment, particularly asking prices and asking rents.
[27:35] If you want to get hold of that app, which is fabulous, there's a QR code or you can click the link there.
[27:42] you need to get a password from the good folks at Infinity who will be only too happy to provide you with that.
[27:47] And as we say, we have been saying for a couple of weeks, look out for the new My Housing Market Infinity app to be released next year.
[27:56] which not only will provide all the latest data, which it has been providing, it's also going to have all the latest news as well from Rachel and I.
[28:06] So it'll also be a news site as well as a data site.
[28:11] So does it get any better than that?
[28:13] The answer is no.
[28:15] And you can continue to make informed decisions based on evidence-based information.
[28:22] So there's a screenshot of the app.
[28:24] This is for prices.
[28:26] You can filter for price or rent.
[28:28] You can filter for the capital city region or the outside capital city region.
[28:31] We're looking at a four-bedroom house here in Blacktown.
[28:35] You can filter also for townhouses and units and the number of beds and not just the median asking price that we provide.
[28:43] We also provide the low and the high asking prices currently.
[28:47] So you can see there, median asking price for a four-bedroom house in Blacktown currently is $1.225.
[28:55] with a low of a million and a high of 1.3 million and 20 properties currently for sale.
[29:00] Same deal there for rentals.
[29:03] So if you're a landlord or you're a prospective tenant, you can get all the latest data on the rental market with the same breakdowns.
[29:12] And if you're an investor, we also provide an insight into the investment market.
[29:18] This provides the top 10 yields for each of those regional breakdowns.
[29:23] And of course, the yields is the gross yield.
[29:25] So what it does is it aggregates the annual rent based on the current asking rent and it divides that into the current asking price to give you your gross return on investment.
[29:34] Of course, it doesn't include the gross return.
[29:37] the costs you have personally.
[29:39] But it's a good insight into the return on investments you can get, not only to provide you with the yield, but also the vacancy rate, the number for rent and the number for sale of those top 10 suburbs.
[29:50] And if you click on the hot link there of the top 10, it takes you to a map of exactly where those suburbs are, in case you don't know, Rachel.
[30:00] So next week, October inflation,
[30:03] All eyes will be looking at October inflation release next Wednesday.
[30:08] So you'll have that first.
[30:09] You'll hear about that first here.
[30:11] The September quarter wages.
[30:12] Let's see if strong labour markets are translating into higher wages.
[30:16] And as usual, the latest weekly auction results, which will be the last week for November.
[30:25] So that'll be our last result for November.
[30:27] And then we have three weeks over December.
[30:29] So another big week in property, Rachel.
[30:34] So interesting news there, of course, an improvement in the labour market, not so good for house building costs and auction markets just keep on keeping on.
[30:43] And everybody's at an auction or thinking about an auction now, I think, at the moment.
[30:47] Those numbers are very high.
[30:48] So if you've missed this week's insights, you can download off that QR code, a PDF copy of the report.
[30:55] So until next week, Rachel, I bid you farewell.
[30:59] Yeah, well, that is a wrap on this week's episode of Wilson Weekly.
[31:04] We've seen some data and strong labour market rising building costs and auctions that are giving us a very clear read on buyer behaviour heading into the end of the year.
[31:13] Doc, as always, thank you for the amazing insights.
[31:17] And to everyone listening, stay smart, stay data-driven, and we'll see you next week.

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