Interest Rates [ On Hold ]

24 Mar

Isn't it fantastic that the footy season is back? The Cats really came out to impress!

But now, let's switch to something a bit different – the world of interest rates! Sure, it might not have the same thrill as a footy game, but it's a significant player in our daily lives.

So, the Reserve Bank of Australia (RBA) has decided not to change the interest rates and they're sticking to 4.35% again. It's the third time they've done this, mainly because the property market is booming and it might delay any rate cuts.

Michelle Bullock from the RBA mentioned they're still keeping an eye on inflation but haven't closed the door on changing rates down the line. People are starting to think we might see a rate cut around late September, but that all depends on how the housing market goes.

Despite the high rates, everyone still wants to buy houses more than there are houses to buy, which could make future rate cuts a bit tricky. The RBA seems to think they might keep rates as they are until at least 2025 because of how things are looking right now.

PropTrack's latest figures show that property prices are still climbing a bit, showing that the market isn't too bothered by the higher rates. Everyone's hoping for some rate drops in the second half of 2024 to keep things lively.

Mortgage Choice has noticed more people are choosing variable rate home loans, betting on rates going down soon. This seems to be the trend, with some banks already cutting their fixed rates to stay in the game.

Big bank experts reckon we might see a rate cut later this year, depending on how inflation behaves. Luci Ellis from Westpac thinks the first cut could happen in September, once they've got all the latest data and can be sure inflation is heading back to where the RBA wants it.

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This Week We Cover

Interest Rates [ On Hold ]
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:

3/29 Margaret St, Oak Park: Coming Soon..
1/9 Danae St, Glenroy: Coming Soon..
24A South St, Hadfield: Coming Soon..
18 Ninnis Crt, Roxburgh Park: Coming Soon..
1/83 Bindi St, Glenroy: Coming Soon..
4/130 Langton St, Jacana: Coming Soon..
5 Watt Ave, Oak Park: Coming Soon..
4 Axminster Dr, Craigieburn: Coming Soon..
1/16 Austin Cre, Pascoe Vale Coming Soon..
9 Mitchell Cr, Meadow Heights: Coming Soon..
44 Plumpton Ave, Glenroy: Coming Soon..
(To book a VIP viewing, reply with your request..)

C+M's New 2 Market:

1/94 Daley St, Glenroy: $625k - $675k

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C+M's Sold Results:

53 Tassell St, Hadfield: SOLD $1,252,000

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Property of the week

**18 Glenroy Road, GLENROY**

3 Bed / 1 Bath / 4 Car
$775k - $825k

Learn More

TALE of the SALE this Week

**1 William Street, GLENROY**

**SOLD @ Auction: $915,000**
Number of Inspections: 33
Number of 2nd Inspections: 4
Contracts Held: 4
Number of Bidders: 4

Learn More

Auctions - 23/03/24

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

Suburbs SOLD results

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