The Reserve Bank of Australia (RBA) should continue to cut the official cash rate til it hits two per cent, one mortgage industry stakeholder has claimed. Speaking to Real Estate Business‘ sister title, The Adviser, LJ Hooker Financial Services head of finance Peter Bromley said while it was good to see the Reserve Bank cut 50 basis…
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Tenants have upper hand Simon Gunnis With no tenant pre-commitment announcements at Barangaroo, the start of a new commercial development supply cycle in Sydney is akin to ever-moving goalposts. What will the vacancy rate be when the recovery of the commercial property market really begins? In our view, the current tenant-led market conditions will continue…
Interest rate cuts expected to bring property joy Nicole Lindsay PROPERTY players welcomed last week’s move by the Reserve Bank of Australia to drop the cash rate by 50 basis points but warned it could take weeks, if not months to flow into the market. Results were patchy over the weekend with some reports of…
Reserve Bank Board meeting – The Reserve Bank Board cut the official cash rate by 50 basis points (half of a percentage point) to 3.75 per cent. The cash rate is at the lowest level in over two years (March 2010). The next RBA Board meeting is on June 5 2012. – The Reserve Bank…
Rate moves telegraph banking strategies Just how the big four banks adjust their interest rates this week and next will give us some flavour of their strategies around growing market shares in the mortgage market and the extent to which they are prepared to fight for deposits. National Australia Bank’s move on Wednesday to reduce…
CBA cuts variable rates by 40 basis points Less than the RBA’s cut of half a per cent Big banks hoard rates cut despite pressure Westpac profit down 25 per cent to $2.97 billion THE Commonwealth Bank has cut its variable home loan rates by 40 basis points, less than the RBA’s rate cut. The…
National Australia Bank is the first of the big four banks to announce it will cut its standard variable home loan rate after the Reserve Bank of Australia slashed the cash rate on Tuesday. From May 4, NAB will slice 32 basis points from its variable mortgage rate, taking it from 7.31 per cent to…
Construction has begun on the last of 20 “black holes” in Sydney’s Chinatown that were formerly part of Paddy’s Market, as Ausbao’s The Quay development gets under way. The 270-apartment complex launched on Saturday, and CBRE director Murray Wood told Property Observer nearly 200 sold on the day. He says he expects more to sell today. Of…
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Consumer prices edged up in the first quarter, falling short of expectations, according to the Australian Bureau of Statistics (ABS). The ABS data showed a lift in the headline inflation rate of just 0.1 per cent, missing analyst expectations of a 0.6 per cent increase and fuelling speculation of a possible interest rate cut in…