The RBA has kept the official cash rate at just 0.1 per cent for another month as forecasters continue to suggest that’s where they’ll stay for another year or two.
Apartments out in the suburbs are making a comeback in the property market as a new wave of investor interest and housing affordability struggles cause attention to be turned to the sector.
The national inflation figures came out yesterday and were slightly lower than expected with the consumer price index rising 0.6 per cent over the three months to March.
Melbourne apartment investors are taking some big hits selling off dwellings they’ve been unable to fill with tenants since COVID hit.
Property seekers in Melbourne and indeed other sizzling markets around the country are leaving the market suffering ‘boom fatigue’.
The two biggest banks in Australia have forecast house prices to rise by ten per cent or more this year.
Melbourne is becoming one of the most affordable capital cities in the country to rent, with house rents hitting record highs in some states.
Some landlords in our state are choosing to sell up rather than try to meet new minimum standard property laws that came into effect at the end of March.
The RBA has left interest rates unchanged this month but says it is keeping close watch on the booming housing market.
Melbourne has joined a host of other Aussie capital cities experiencing new median price highs.
