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Back to Economic Calendar

RBA Bulletin

AU

About This Indicator

What is RBA Bulletin?

The RBA Bulletin is the quarterly publication of the RBA (Reserve Bank of Australia, the central bank). Staff teams write feature articles and speeches on the economy, the financial system (banks and markets) and Bank operations, using data made elsewhere. Housing coverage is article by article, on rents, housing loans, household finances and dwelling prices (home prices), with each piece naming its own inputs. It is not a price index, rent index, rate decision or forecast, and its archive reaches back to 1985, quarterly from 2010.

When is it released and what happens each release?

Editions arrive quarterly on a Thursday dated by Sydney time, while the Bank states no fixed intraday release time. Calendars timestamp releases at 00:30 or 01:30 GMT. Monthly issues ran for more than 20 years before turning quarterly from 2010. March, June, September and December editions ran in 2021 to 2023, then January, April, July and October from 2024.

Articles use data current to about 1 to 2 months before the edition. Each edition holds several staff articles with named authors and sources, plus a full PDF download and an RSS feed (auto update feed). Editions stay static with no revisions, and they give no trade level, so readers treat them as background, not a market event.

What moves RBA Bulletin?

Housing articles return to 3 themes, each with its own data and no fixed weight.

  • Rents and rental conditions: CPI rents (whole stock gauge) versus advertised rents (new lease offers), vacancy rates (empty share) and stress.
  • Housing credit and fixed rate loans: loan growth and rate reset effects, showing monetary transmission (how policy reaches borrowers) and stability (system stress) risk.
  • Household balance sheets (assets and debts) and wealth: wealth by tenure, debt, savings and spending power.

The 16 March 2023 article Renters, Rent Inflation and Renter Stress, by Agarwal, Gao and Garner, teaches stock versus new lease divergence. About 33% of households rent; CPI rents rose 1% yearly since 2012, then 4% over 2022, strongest in 10 years, as advertised rents ran stronger.

About 90% of the lowest wealth quintile rented in 2019/20, spending 28% of disposable income after aid versus 22% for higher income households. Suitable homes grew scarce as average size fell about 1% since 2020, forming about 120000 extra homes. Public stock grew 3% over the past decade against about 20% for all homes.

How is RBA Bulletin calculated?

  1. No Bulletin level math: no formula, no weighting and no seasonal adjustment (no seasonal smoothing), as it is a publication, not a statistic.
  2. Stock versus new lease rents: CPI rents (whole stock gauge) track all city leases and move slowly. Advertised rents (new lease offers) signal jumps for new tenants and run stronger in tight markets (strong demand).
  3. Direct pass through (rent share of rate rises): the 17 October 2024 article estimates it from anonymised tax returns from 2006/07 to 2018/19. An $850 monthly rate rise lifts rent by $25 a month. Example: a $500 lease relet at $550 jumps 10% for new leases, but with 99 flat leases the stock gauge rises only about 0.1%.

Key point: the Bulletin is staff analysis, not a Board (rate setters) decision, so calendars usually expect no AUD move on release.

Source: Reserve Bank of Australia

Full History

No historical data available