Australia’s central bank has handed out its October cash rate decision at its monthly board meeting. In what was the first cash rate decision delivered since former Governor Philip Lowe’s departure, the Reserve Bank of Australia (RBA) opted to hold the official cash rate at 4.10 per cent. Despite August’s Consumer Price Index (CPI) indicating a slight […]
The federal government has set a timeline to launch its shared-equity home buying scheme, which was a key Labour Party election promise in 2022. The scheme, called “Help to Buy”, will kick off in 2024, so long as the requisite legislation passes in each state and territory, which leaders agreed to do during the latest meeting of […]
Major banks have released their predictions for the second quarter inflation data and outlined how they expect it will impact the Reserve Bank’s August rate decision. Australia’s second quarter consumer price index (CPI) data due out on Wednesday is expected to show further deceleration in headline and underlying inflation, according to the latest forecasts from […]
Philip Lowe’s seven-year tenure as the governor of Australia’s central bank has ended. Prime Minister Anthony Albanese and federal Treasurer Jim Chalmers announced Michele Bullock as the ninth governor of the Reserve Bank of Australia (RBA). With her term set to commence on 18 September 2023, she will become the first female governor of the […]
Almost half of property professionals responded to a survey that housing supply and affordability are the most critical issues for the federal and state governments, a record high. The latest ANZ/Property Council Survey of 744 property professionals in the June quarter has brought these issues into sharp focus, alongside the necessity to address them. At […]
The Reserve Bank has called the cash rate for July. The Reserve Bank of Australia (RBA) has decided to hold the official cash rate at 4.1 per cent. This is now the second time the RBA paused the cash rate since it began hiking rates in May 2022, with the previous pause occurring in April […]
A new report showed Australia’s capital cities have recorded the strongest annual rental increase in history, fueled by a surge in overseas migrants and international students as well as a significant shortfall in rental listings. CoreLogic’s latest report showed rents in capital cities have risen on average by 11.7 per cent in the past year, […]
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 […]
While Australia’s property markets have been labelled as the second riskiest in the world, an expert offers arguments as to why the country’s housing market conditions are not as grim as depicted. In its World Economic Outlook update for April, the global financial agency ranked the Land Down Under as the second-highest country for “housing market risk” […]
The IMF has ranked Australia’s housing market as being the second most high-risk country of 27 countries, which CoreLogic attributes to five reasons. The International Monetary Fund (IMF), which works to achieve sustainable growth and prosperity in financial markets across the 190 member countries, has suggested that Australia is second only to Canada when it […]