A Xmas Gift [ FROM the RBA.. ]

10 Dec

As we gear up for the holiday season with just 15 days to go till Christmas, let's dive into the latest from the Reserve Bank of Australia (RBA). In their final meeting of the year, the RBA decided to keep the cash rate steady at 4.35%, and it wasn't much of a surprise given the softer data we saw throughout November.

Retail trade took a bit of a dip, down -0.2% on a month-on-month basis, and the unemployment rate in October inched up 20 basis points to 3.7%, though it's still relatively low.

Now, onto the monthly Consumer Price Index (CPI), which showed a decline. But here's the twist – the RBA might not have given it much weight in their decision-making. You see, October's CPI figures danced to a different tune, influenced by various subsidies and exclusions, making the inflationary picture a bit blurry.

But wait, there's more! Despite the wobbly data, housing lending had a surprisingly strong October, up 5.4% month-on-month. However, don't pop the champagne just yet. CoreLogic estimates a decline in sales volumes for November, so this housing lending surge might be short-lived.

Now, let's talk housing market. It's been a rollercoaster ride this year with capital gains holding strong, but the recent interest rate hikes – especially the unexpected one in June – have made their mark. November saw CoreLogic's national Home Value Index record its lowest monthly increase since February, with values up just 0.6%. Melbourne even took a dip of -0.1% in housing values in November. It's been an interesting ride, and we'll see how it unfolds as we approach the festive season!

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From myself and the team, we look forward to 'Helping You Find Home.'

This Week We Cover

A Xmas Gift [ FROM the RBA.. ]
What's Coming, what's New, what's Sold
Property of the week
Tale of the Sale this week
Auction results & clearance rates
Your suburbs sold results
Get your instant property price online
Highlight of the week

+ Coming + New + Sold

C+M's Coming Soon:

2 Volga St, Hadfield: Coming Soon in 2024..
3/66 Hubert Ave, Glenroy: Coming Soon in 2024..
1/2 Lindsay St, Glenroy: Coming Soon in 2024..
2/3 Churchill St, Glenroy: Coming Soon in 2024..
1/16 Isla Ave, Glenroy: Coming Soon in 2024..
1/37 Bindi St, Glenroy: Coming Soon in 2024..
2/37 Bindi St, Glenroy: Coming Soon in 2024..
21 McMahons Rd, Coburg North: Coming Soon in 2024..
1/466 Bell St, Pascoe Vale South: Coming Soon in 2024..
1/50 Danin St, Pascvoe Vale: Coming Soon in 2024..
4/98 Snell Gr, Oak Park: Coming Soon in 2024..
1/7 Magnolia St, Oak Park: Coming Soon in 2024..
(To book a VIP viewing, reply with your request..)

C+M's New 2 Market:

3/12 Illawarra St, Glenroy: $475k - $515k

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C+M's Sold Results:

1/5 Somerset St, Pascoe Vale: SOLD @ Private Sale: $855,000

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Property of the week

**11 William Street, GLENROY**

4 Bed / 2 Bath / 3 Car

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TALE of the SALE this Week

**37 Wheatsheaf Road, GLENROY**

**SOLD @ Auction**
Number of Inspections: 73
Number of 2nd Inspections: 7
Contracts Held: 8
Number of Bidders: 5
$270,000 of Competitive Bidding
SOLD: $1,070,000

Learn More

Auctions - 09/12/23

*preliminary results based on Sundays data from realestate.com.au

Suburbs SOLD results

Your Property Estimate

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C+M is Now Hiring

C+M is currently seeking a Rentals Specialist to join our team. If you're passionate about real estate and have the skills to excel in this role, we'd love to hear from you.

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