Weekly Update

5 Jul

Happy new Financial Year!

May the following year be a successful one for you.

June finished strongly with sales, however the sale prices were still low.

Please see below an extract from the Mortgage Business magazine that came out this morning.

The possibility of eight rate hikes in two years is “highly unlikely”, but a cash rate cut could be on the cards, according to a leading economist.

Former Reserve Bank of Australia (RBA) member, John Edwards last week predicted the RBA will introduce eight rate hikes of 25 basis points each over the next two years to bring the official rate to 3.5 per cent. However, industry experts have questioned the likelihood of this occurring.

Richard Robinson, principal economic forecaster at BIS Oxford Economics has pointed to weak inflation, a downturn in residential construction and in mining as factors counting against a series of rate hikes.

This bit of news still makes buying favourable for buyers and we hope that first home buyers start making more of a move to buy property, once tax returns are received.

Kindest regards and sincere gratitude from Lara, Warrick and Brendan


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