06

October 2017

Stay Calm & Buy Property

As expected, the Reserve Bank Board decided to leave the cash rate unchanged at 1.50%. Bill Evans chief economist of Westpac stated, "With conditions in the housing market easing, and inflation and growth remaining sub-trend, there is no immediate urgency. However, we expect that as 2018 unfolds, the Bank will deem it necessary to revise down its growth assessments and continue to rely upon macroprudential policies to contain any further lift in the household debt to income ratio. We continue to expect that rates will remain on hold in 2018 and 2019." Read more...

The Australian Bureau of Statistics have released the most recent figures on dwelling approvals. “Dwelling approvals have shown signs of strength in recent months, although they are still below the record high in 2016,” ABS assistant director of construction statistics Bill Becker said. “The August 2017 data showed that the number of dwellings approved is now 6.5 per cent lower than in the same month last year, in trend terms.” Read more...

It's nice to be reminded occasionally that our property markets are well monitored and as a result they are performing in a fairly orderly and calm fashion.