News

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.

Melbourne property sellers appear to be testing the waters and waiting to see where the market goes next after agents and auctioneers reported reduced stock levels this weekend.

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.