Market Essentials – May 2023

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Market Essentials – May 2023

After a recent review, the RBA is set to undergo the biggest reform in decades, effective 1 July 2024, with the current board losing its powers to set the cash rate. According to Treasurer Jim Chalmers, the most significant change involves the creation of two boards, one for governance and one for monetary policy, with the latter having dual objectives: monetary stability and employment.

The latest quarter ABS figures show inflation has peaked and is on its way down, justifying the RBA’s decision to halt rate hikes last month. Despite the rate hikes to date, CoreLogic’s data shows clear signs of property prices recovery, with most capitals showing a positive percentage increase this month.

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Market Essentials – April 2023

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Market Essentials – April 2023

CoreLogic’s latest figures are showing strong signs of an ending downturn, with some of the most-affected markets, such as Sydney, already starting to recover.

Meanwhile, Australian borrowers have received some respite this month, with the RBA deciding to pause rate hikes for April after 10 consecutive rises. The successive rate rises had garnered negative reactions from the market and industry experts, however it remains to be seen whether this will be the last of the increases, or simply a pause for the time being.

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Market Essentials – March 2023

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Market Essentials – March 2023

The latest PropTrack data this month shows the market downturn is losing momentum, with the overall national home prices rising by 0.18% in February caused by tight supply and continued buyer demand.

However, according to Realestate.com.au Senior Economist Eleanor Creagh, this may not be the end of the downturn just yet. She says that ‘with additional rate rises expected, borrowing costs will continue to increase and borrowing capacities will be further reduced, weighing on prices’.

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Market Essentials - February 2023

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Market Essentials - February 2023

After the RBA’s most aggressive tightening cycle in over 30 years, top experts surveyed by The Australian Financial Review predict only two further rate hikes in 2023 as the RBA pauses to evaluate the effects of the fixed-rate mortgage cliff.

According to CoreLogic’s records dating back to 1980, Australia has experienced the worst property downturn in history, with the average dwelling price dropping by 8.4% between April 2022 and Jan 2023.

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Loan Structure: Understanding Fixed and Variable Interest Rates

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Loan Structure: Understanding Fixed and Variable Interest Rates

There are a few ways to structure your home loan repayments. Finding the best option may save you time and money on your mortgage. Here is some information to help you choose the repayment structure that works best for you.

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