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The Reserve Bank of Australia today decided to further reduce the current official cash interest rate by another 0.25 basis points. This makes the new 0.50 percent rate the new historic low after the last cut in October 2019. The rate has been kept on hold since its last point cut in October. The decision was also in support of the global coronavirus outbreak which has affected many economies …
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The Reserve Bank of Australia today left the current official cash interest rate unchanged at its historic low level of 0.75 percent. The rate has been kept on hold since its last point cut in October. The decision was also expected by analysts or traders although they are anticipating another cut soon by March or April. In his monetary policy statement earlier, RBA Governor Philip Lowe noted …
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First home buyers are set to benefit from the government's loan deposit scheme, which took effect on January 1, 2020. The first home loan deposit scheme will be available to those first home buyers purchasing properties up to a maximum amount. The threshold will also depend on the property's location. Eligible buyers on qualifying incomes can avail of up to 10,000 loans each financial …
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The Reserve Bank has held interest rates at the record low level of 0.75% this month. Thanks to the expected increase in consumer spending over Christmas and the New Year, the RBA decided to make no change to interest rates in December. Reserve Bank Governor Philip Lowe said "Given these effects of lower interest rates and the long and variable lags in the transmission of monetary policy, …
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Many Australians believe that now is a good time to purchase a property. This is what a new research has found. The study showed that more than half or 52 percent of Australians believe that property prices in their area will go up in the next 12 months and because of this, they think that the time is right to buy a property. Some 59 percent of homeowners are confident the market is in good …
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The Reserve Bank today decided to hold interest rates at the historic low of 0.75%. The decision to hold interest rates after the October cut was largely expected given a minimal improvement in unemployment and a minor uptick in inflation. RBA governor Philip Lowe said "The low level of interest rates, recent tax cuts, ongoing spending on infrastructure, the upswing in housing prices in some …
By now I'm sure you've started to hear the media reporting that house prices are on the rise. For the past quarter, Melbourne house prices jumped 4.1 per cent, with houses regaining almost half of the price falls that occurred during the recent downturn. For those of us immersed in all things real estate, out and about week in week out (and weekends!), we've seen the Melbourne market turning …
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The Reserve Bank has dropped its official cash rate below 1% for the first time as it battles rising unemployment and stimulate a slowing economy. This is the RBA's third cut since June and comes after data showed the unemployment rate has increased to 5.3%, from 4.9% at the start of the 2019. The big banks passed on around 80% of the 50 basis points of cuts in June and July, but are …
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Several suburbs in Melbourne will have six new train stations a few years from now. Part of a major project called the Suburban Rail Loop, this public transportation is aimed at providing Victorians easy access to their place of work, schools and other amenities. It is worth $50 billion as confirmed by the Andrews government. Premier Daniel Andrews announced last week that the 90-kilometer …
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The RBA has kept the official interest rate on hold at its historic low of 1.0%. This comes after the RBA cut interest rates in June and July this year. Before that, the cash rate had sat at 1.5% for the better almost 3 years. RBA governor Philip Lowe said “Economic growth in Australia over the first half of this year has been lower than earlier expected, with household consumption weighed …
