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The Reserve Bank of Australia today decided to keep the interest rate at its current level of 1.5 percent. This is the eighth month that the official cash rate has been maintained by the RBA amid a strong economy and growing housing market. This new decision was expected by some 50 economists who were earlier survey by Reuters.

In its board meeting, RBA Governor Philip Lowe cited the improving global economy including global trade and industrial production. China’s growth, he pointed out, is attributed to higher spending on infrastructure and property construction but the country still faces medium-term risks. The U.S., meanwhile, has increased interest rates.

Lowe added that Australia’s national income, on the other hand, is being boosted by the rise in commodity prices which has also caused inflation rates to go up in most countries. The country’s economy remains to be in a transition phase after the end of the mining investment boom. The depreciation of the exchange rate since 2013 played a role in this transition.

Employment growth is modest while unemployment rate has slightly risen. Growth in wages is still slow but there are positive indicators pointing to continued employment growth moving forward.

With regards to inflation, it remains to be very low although headline inflation is foreseen to improve this year to more than two percent.

As for the housing market, conditions vary across Australia. Some markets are showing brisk increases in prices while the others are experiencing price drops. A large supply of apartments is expected in the next two years particularly in the eastern capital cities. Rental growth, meanwhile, is at its slowest in two decades.

The major challenge for the Reserve Bank was the soaring house prices that made it impossible to raise the interest rate. Analysts say increasing the cash rate could likely affect real estate demand.

Looking to buy in Melbourne and sick of missing out at auction? Thinking of selling and wanting trusted, impartial advice and hand holding to protect your interests throughout the entire selling process? Talk to us about how WE MAKE IT EASY to buy or sell your home.

Call us now on 03 8609 1234 for a confidential free consultation.

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By Amalain Buyer & Vendor Advocates
Copyright 2017 | All Rights Reserved

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Amalain does all of the leg work on behalf of the buyer or seller. From sourcing, analysing, negotiating and bidding at auction for our buying clients, to choosing the most appropriate selling agent, negotiating a fair and reasonable selling commission as well as implementing the most cost effective marketing campaign for our selling clients, we offer trusted impartial advice to protect your interests throughout the entire buying or selling process. We charge a LOW FLAT FIXED FEE for our buyers. For our sellers, this service is provided FREE of charge. WE MAKE IT EASY to buy or sell your home. Call NOW for a confidential FREE CONSULTATION on 03 8609 1234 or visit www.amalain.com.au.

With a passion for financial empowerment through real estate and the leverage of passive income, Michelle started investing over 17 years ago, implementing diverse investment strategies to build her portfolio. Easily able to build rapport and empathise with others, she is a master negotiator who loves challenges and problem solving. Michelle’s tenacious nature and unwavering commitment to achieving the task at hand ensures that her clients always achieve the best possible outcome. Call NOW for a confidential FREE CONSULTATION on 03 8609 1234 or visit www.amalain.com.au.

Wendy is an avid real estate investor with nearly two decades of experience in buying and selling her own properties applying multiple investment strategies. Her expertise, knowledge and skill at negotiation dovetails perfectly with her passion as a buyer and vendor advocate. Her upfront, no nonsense approach ensures that her clients’ interests are always the priority when it comes to achieving success for her buyers and sellers. Call NOW for a confidential FREE CONSULTATION on 03 8609 1234 or visit www.amalain.com.au.

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