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RBA leave Cash Rate Unchanged
The RBA decided to leave the official cash rate unchanged this month at 4.5 per cent, citing volatile financial markets caused by problems in Europe as the main reason. It’s the second month in a row the RBA has kept rates on hold. Governor Glenn Stevens hinted that the next rate movement may not be for a few months to come. “The current setting of monetary policy is resulting in interest rates... [Read more]
RBA to hold rates at 4.5%
Minutes from the last Reserve Bank meeting showed that, while the decision to increase the cash rate from 4.25% to 4.5% was pretty much cut and dry, the central bank will keep rates at this level as it evaluates the impact of the six rises in seven months. “The decision to raise rates followed a material upgrade to the Bank’s economic and inflation forecasts and so reflected the RBA’s desire... [Read more]
Bank Update
It is interesting to note the speed at which lenders are able to make the decision to increase rates after a move by the central bank when compared to the consideration that was taken when the cash rate was on its way down The first to move were the Commonwealth Bank of Australia and Westpac – they have raised their variable mortgage rates by 25 basis points, relieving some mortgage holders... [Read more]
Perth median to break through $500,000
The resources juggernaut is fuelling the next Perth property boom, with the city’s housing markets unable to absorb WA’s continuing massive population growth. According to the Real Estate Institute of WA (REIWA), growing confidence has led to an increase in listings as well as sales. At the end of March, there were 12,700 properties on the market – an increase of 22% from December. “The... [Read more]
Buyers opt for higher priced properties as confidence returns
A growing number of property buyers are snapping up more expensive properties in capital cities amid predictions that value will double over the next 10 years. The latest data from Loan Market showed mortgage demand from borrowers buying top end properties jumped by 30% over the past12 months. The report also found a dramatic increase in borrowers seeking loans in excess of $800,000 and those who... [Read more]
