"ps should add there is some so called re shoring of manufacturing going on in the US eg manufacturers returning.I can't see any re shoring happening in australia."
US has had a reset of it's economy. You will not see manufacturing returning to Australia until our economy has had it's reset.
Cost of housing has been the wrecking ball through the Australian economy and manufacturing. Are wages high in relation to house prices? Nowhere near it. Cost of living in Australia has far outstripped wages as displayed by household debt being stuck above 150% of household income.
