Melbourne office market boom set to kick on
While the housing market in Melbourne continues its downturn the office market boom shows no sign of abating.
While the housing market in Melbourne continues its downturn the office market boom shows no sign of abating.
The Reserve Bank has cut rates to a new record-low of 1 per cent and it isn’t backing away from criticism by saying it’ll cut again if it has to.
Analysis from a large Australian property valuation company shows our major mainland capital cities are at the bottom of their price cycle after a lengthy period of low clearance rates, price drops and falling confidence.
Home loan arrears are the highest in years but at this stage pose no threat to financial security, according to the RBA’s head of financial stability Jonathan Kearns.
The RBA’s interest rate cut this month looks to have had immediate effect with the strongest auction result in a year being recorded on the weekend.
Melbourne’s housing market be in the middle of a correction phase but commercial property in the city shows no such signs of slowing down.
The national unemployment rate stayed at 5.2 per cent for the month of May but the number of jobs created did rise by over 42,000.
It has become more affordable to buy than rent in some parts of Australia as housing affordability has returned to 2016 levels.
Official interest rates in Australia have been slashed to a new record-low of 1.25 per cent – the first move in nearly three years.
An interest rate cut next week would be the start of the end for falling house prices according to economists.