Morissette said industrial rents in Metro Vancouver have appreciated by between 20 and 30 per
cent over the past couple of years.
Equity prices have also shown a solid increase — 25 per
cent over the past couple of years — which has increased access to, and reduced the cost of, equity capital.
Not exact matches
The Australian dollar has remained in a relatively steady range
over the
past couple of years, at levels that are a little above average against the US dollar and about 10 per
cent above average in trade - weighted terms.
Currently, business investment is equivalent to around 16 per
cent of GDP — not far below its peak level in the
past four decades — and is expected to rise a little further
over the next
couple of years (Graph 2).
Over the
past couple of years, speculators have also used short sales
of gold to obtain low cost funds to invest in other assets — for example, by shorting gold (borrowing it and selling it in the spot market), market participants have been able to obtain US dollars at between 1 and 2 per
cent, well below the rate
of return available on US assets.
Weak economic conditions in the
past couple of years have seen growth in labour costs slow to 2 1/2 per
cent over the
year to the December quarter, from 3 1/2 per
cent a
year earlier.
Correspondingly, the current account deficit has also widened
over the
past couple of years, although the deficit for the September quarter, at around 6 per
cent of GDP (assuming that the net income deficit remains constant as a share
of GDP), is likely to have been smaller than in the previous quarter.
Of those, 66 per cent were approved, a number that has been consistent over the past couple of year
Of those, 66 per
cent were approved, a number that has been consistent
over the
past couple of year
of years.