Merry Xmas from the RBA

11 Dec

Happy December to you and your important one's, we hope you are enjoying that end of year energy and good vibes that tend to flow around this time..

Well there's around 2 full working weeks remaining until the Festive Season is upon us, and what a Merry Old Xmas the Reserve Bank of Australia delivered us this week. YES you guessed it, another 0.25% Interest Rate Hike, making that the 8th consecutive rate rise this year.

It wasn't all DOOM and GLOOM though, with some of the KEY inflation index targets starting to see the effect of what the RBA are actually trying to achieve via lifting interest rates, which is their main goal to kerb and lower inflation from it's recent HIGH peak of 7.75% to the RBA's more normal target of 3.5%, in the past 30 days we've seen the inflation index soften to 6.9%. The data finally showing signals of things heading in the right direction..

Well what does this all mean for home owners..? It means an average mortgage of the below amounts has increased as follows, a:

$500,000 Mortgage has increased by $883 per month since rate hikes began in April
$750,000 Mortgage has increased by $1,324 per month since rate hikes began in April
$1,000,000 Mortgage has increased by $1,765 per month since rate hikes began in April

Although it may not feel like a welcome Xmas present at this time of year, it is one of those uncessary evils that will get worse, before it get's better for the greater good of Australians. For now stay strong, as one of my favourites quotes state: "You always PASS failure on your WAY to SUCCESS.."

CLICK HERE to read the FULL ARTICLE by Shannon Molloy, or HIT the IMAGE below..

This Week C+M Also COVERS:

Merry XMAS from the RBA..
What's My Property WORTH.?
C+M Market Activity & Clearance Rates..
Your Suburbs SOLD Results
LAST CHANGE Santa Letters..

Book a CURRENT PRICE Check?

With ONLY 4 SELLING WEEKS LEFT for 2022. If you'd like to BOOK in your PRICE CHECK meeting to FIND out 'What's My Property Worth' before XMAS..

Well why not.? BOOK in your complimentary ONLINE 'PRICE CHECK' online today.

It's quick and easy. Simply CLICK HERE or HIT the IMAGE below, and follow the 3 easy Steps...

The week's PRE-MARKET and YET to be Photographed homes:

2/38 Harold St, Glenroy: BRAND New Home, Launchig 2023..
4/38 Harold St, Glenroy: BRAND New, Launchig 2023..
2/466 Bell St, Pascoe Vale: BRAND new Townhome, Launching 2023..
1 & 4/108 Lahinch St, Broadmeadows: DOUBLE the fun, Coming Soon ..

The week's NEWEST home to market at C+M Residential:

5/6 Devon Rd, Pascoe Vale: SINGLE Level in the ZONE, Launching 2023: $700k - $750k
1B Gish Crt, Hadfield: NO Body Corp, Launching 2023: $770k - $845k

The week's local SOLD results at C+M Residential:

2/47 Curie Ave, Oak Park: SOLD @ Private Sale: $482,000
3/466 Bell St, Pascoe Vale: SOLD @ Private Sale: $835,000
32 Rainer St, Pascoe Vale: SOLD @ Private Sale: $1,120,000
47 Augustine Tce, GLenroy: SOLD @ After Just Launching: $850,000
23 Kennedy St, Glenroy: SOLD @ Prior to Launching: CONTACT AGENT

Auction Clearance STATS:
10/12/22

*preliminary results based on REIV results for the past 7 days

  
    STATISTIC
    DATE
    No. or %    
  

    Total Auctions
    This Week
    743
  

    Total Auctions
    Last Week
    944
  

    Total Auctions
    Last Year
    1779
  

    Clearance Rate
    This Week
    69%
  

    Clearance Rate
    Last Week
    68%
  

    Clearance Rate
    Last Year
    76%
  

    SOLD
    This Week
    512
  

    PASSED IN
    This Week
    231
  