Hi all, it’s Jackie right here in Sydney, the place an “unlivable shack” can fetch over A$1 million. We discover how Australia’s housing market is heating up whereas New Zealand’s is stalling. But first…

Today’s must-reads:
• RBNZ set to hike, could trace at additional tightening
• India’s Modi visits after PNG stop
• Latest on US debt-limit talks

House costs in Australia and New Zealand have parted methods — values in Australia proceed to rise, whereas they’ve been falling for 16 months throughout the Tasman. The RBA and RBNZ are driving the chasm, offering a stark illustration of the influence of financial coverage on housing markets.