News

Despite the current turbulent times the Reserve Bank has kept the official cash rate at 0.25 per cent for another month.

Melbourne’s house prices were the hardest hit of  all capital cities in the country for the month of August, falling by 1.4 per cent.

Of all the property blows that have been landed since the onset of the COVID-19 pandemic, it’s houses in Melbourne’s high-end suburbs that have copped it the worst.

The RBA is worried that people and businesses are not willing to borrow despite record-low interest rates.

Melbourne is in the middle of a second strict COVID lockdown but it hasn’t stopped property developers finalising new deals to build thousands of homes.