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.
The federal election result appears to have given a boost of confidence to the housing market and to assist matters regulators are moving to ease up on their restrictive lending policies.
In the wake of the surprise federal election result the Reserve Bank has indicated a rate cut is likely next month and wants the Morrison Government to join in stimulating the national economy.
The Australian unemployment rate has crept up for the second month in a row and it’s pushing the Reserve Bank closer to an official interest rate cut.
The Coalition has a plan to help first-home buyers who are struggling to save a deposit by guaranteeing a large portion of their deposit and saving them from having to pay lenders’ mortgage insurance.
