The Reserve Bank of Australia (RBA) handed down its fourth cash rate decision for 2023 at its monthly board meeting on Tuesday, 2 May. One year on from its first cash rate increase of this current cycle, Australia’s central bank opted to raise the cash rate by 25 basis points to 3.85 per cent. There was […]
Recently welcoming the changes coming to the RBA, the Real Estate Institute of Australia (REIA) has urged the central bank to hold the cash rate steady for now. With the latest figures showing the rate of inflation on a definite slowdown, REIA president Hayden Groves said there’s reason to consider a further pause on rate […]
Over 46 per cent of NSW postcodes could spill into the “high mortgage risk” zone next month on the back of rising rates, while repayments for recent borrowers in the eastern states are forecast to spike by around 65 per cent, according to a new report. Digital settlement platform Property Exchange Australia (PEXA) has released […]
Confidence amongst mortgage borrowers spiked in April after the central bank held the cash rate unchanged this month, new data has revealed. The Westpac Melbourne Institute Consumer Sentiment Index showed that confidence amongst respondents with a mortgage lifted by 12.2 per cent in April. However, it is still 14.5 per cent below its level before […]
Could refinancing prove valuable for home owners and investors looking to unlock extra capital this year? According to one financial expert, yes. As some 800,000 Australians prepare to exit their fixed rate mortgage over the course of 2023, Paul Glossop, chief executive officer at Finni Mortgages, recently revealed how the strategy could be harnessed by borrowers […]
Following a slowdown at the end of 2022, new data from CoreLogic and PropTrack indicates a reacceleration of rental growth occurred during the first three months of the new year. According to CoreLogic’s Quarterly Rental Review for Q1 2022, national rents jumped 2.5 per cent in the three months preceding March. Similarly, PropTrack’s latest Market […]
The Reserve Bank (RBA) governor has turned attention to the financial precarity of tenants, noting that rents are expected to continue rising across the nation. On the heels of the RBA’s decision to hold the cash rate at 3.6 per cent in April, Philip Lowe has addressed the Australian media in a bid to explain the board of directors’ […]
Property investment by an SMSF will fail the sole purpose test if it provides pre-retirement benefit to someone such as personal use of a fund asset, warned the ATO director of the SMSF auditors segment. In a presentation to the SMSF Australian Auditors Association Conference in Sydney last week, Paul Delahunty said the rules around property investment […]
Rising interest rates, high construction costs, and continued levels of inflation are placing significant pressure on Australian property investors. In response, many are seeking safe-haven investments to protect themselves against the effects of the slowing economy, while preparing for a potential speed-up in 2024. With the global demand for Australia’s goods and services lessening and the rising […]
It’s time to reposition the Reserve Bank of Australia’s (RBA) inflation target, according to the financial and business expert. Speaking to Phil Tarrant on a recent podcast, Mark Bouris, who is a director at Yellow Brick Road, conceded that while the central bank’s inflation rate target of 2 per cent to 3 per cent — first established in 1996 — is […]