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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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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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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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Melbourne once again showed a strong auction result on Saturday recording 78 percent. The number of listings, however, was low due to the Grand Final public holiday that saw the Tigers competing against the Giants. The total scheduled auctions over the weekend was 49 while the confirmed results was 36. The number of properties sold was 31 with 5 being passed in. Total sales amounted to more …
Continue Reading about Melbourne Auction Results | 28th September 2019 →
Melbourne recorded a strong clearance rate of 76 percent on Saturday, up from the previous week's 74 percent. The auction market continues to do well despite the low volume of listings. The total scheduled auctions during the weekend was 760, still up from last weekend's 704 while the confirmed results was 616. The number of properties sold was 511 490 with 126 being passed in. Total sales …
Continue Reading about Melbourne Auction Results | 14th September 2019 →
Melbourne recorded a 74 percent clearance rate during Saturday's auctions. It slipped from the previous 81 percent two weekends ago, considered the highest since April 2017. More listings were noted with the total scheduled auctions at 704 and confirmed results at 531. The number of properties sold also went up to 511 with 120 being passed in. Total sales amounted to more than $338,184,000 …
Continue Reading about Melbourne Auction Results | 7th September 2019 →
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 …
Melbourne recorded strong auction results on Saturday with a clearance rate of 81 percent, up from last weekend's 70.2 percent. This rate was much higher compared to the same period last year with only 52 percent and the highest since April 2017. The total scheduled auctions was 596 while the confirmed results were 456. The number of properties sold was 380 with 76 being passed in. Total sales …
Continue Reading about Melbourne Auction Results | 24th August 2019 →
