Hope everyone in Victoria enjoyed their Melbourne Cup day this week (we spent it at an animal farm with our son!). Good news non-Cup related continued while the horses were still running with the RBA holding interest rates again. While this wasn’t a surprise to analysts, it does make it seven years since the Reserve Bank increased the cash rate! A huge amount of people currently holding a home loan have never experienced a rate rise.
In more property news, the latest Ipsos Issues Monitor has worrying over house prices at an all-time high – now in the #1 spot in NSW and #2 in Victoria (behind crime!); and I’ve included the latest Spring Market Update by realestate.com.au.
Australia’s 2017 Architecture Awards were recently announced – check out some great buildings; Three Birds Renovations have completed another amazing house transformation (I wish I could do this!); and lastly, I’ve taken a look at last weekends auction results which saw first home-buyers dominate the Melbourne auctions.
I’ll be taking a break next week (some much needed R&R), so the next update on Australian property news will be in two weeks.