November Rate Hike [ ALL BUT GUARANTEED.. ]

29 Oct

As we prepare for Melbourne Cup Day, more than just horse racing is on the minds of many. The burning question on everyone's lips is: What's the Reserve Bank of Australia (RBA) planning for interest rates at its upcoming November meeting?

Looks like the Reserve Bank of Australia is almost definitely gearing up for a rate hike in November, and it could hit households pretty hard. Why? Well, the latest data from the Australian Bureau of Statistics (ABS) shows that the Consumer Price Index (CPI) shot up by a hefty 1.2% in the September quarter – way more than anyone expected. This surprising jump has got economists rethinking their earlier predictions for the RBA's November move.

ANZ, for example, used to think rates would stay put, but now they reckon the RBA will have to do a 25 basis point bump to rein in inflation, which is getting a bit too cozy above target. That would take the cash rate to a 12-year high at 4.35%. But wait, there's a twist! ANZ's Head of Australian Economics, Adam Boyton, warns that it might not stop there. He says, "Any easing of rates remains a distant possibility."

Over the past year, inflation has crept up by 5.4%, though it's down a tad from the 6% spike in the June quarter. But the monthly CPI, which tells us what's happening in the here and now, has climbed for the second month running. So, despite the cash rate already being at an 11-year high, it seems inflation isn't going away anytime soon.

You can read the full article HERE or hit the IMAGE below

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

This Week We Cover

November Rate Hike [ ALL BUT GUARANTEED.. ]
What's Coming, what's New, what's Sold
Property of the week
Sold Property of the 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:

20B Victoria St, Oak Park: Coming Soon..
18 Hyde St, Hadfield: Coming Soon..
1/57 Cosmos St, Glenroy: Coming Soon..
2/57 Cosmos St, Glenroy: Coming Soon..
2/109 View St, Glenroy: Coming Soon..
23B Denys St, Fawkner: Coming Soon..
5/59-61 Rhodes Pde, Oak Park: Coming Soon..
350 Waterloo Rd, Glenroy: Coming Soon..
166 Daley St, Glenroy: Coming Soon..
20 Stewart St, Campbellfield: Coming Soon..
21 Lorraine Cres, Jacana: Coming Soon..
2&4/84 Isla Ave, Glenroy: Coming Soon..
2 Northgate St, Pascoe Vale: Coming Soon..
54 Rennie St, Coburg: Coming Soon..
3/10 Colin Crt, Broadmeadows: Coming Soon..
(To book a VIP viewing, reply with your request..)

C+M's New 2 Market:

31 Ethel St, Oak Park: $1.1m - $1.2m

Click here for more

C+M's Sold Results:

62 South St, Hadfield SOLD @ Auction: $995,000

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Property of the week

**31 Ethel Street, OAK PARK**

3 Bed / 1 Bath / 6 Car
$1.1m - $1.2m

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Sold Property of the week

**24B Hodson Street, PRESTON**

**SOLD @ Auction**
Number of Inspections: 21
Number of 2nd Inspections: 3
Number of Contracts: 4
Number of Bidders: 2
$150,000 of competitve bidding
SOLD @ Auction - $1,550,000

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Auctions - 29/10/23

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

Suburbs SOLD results

Your Property Estimate

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*If you would prefer to BOOK in a more accurate Property Price Check in person with one of our team, you can request this as well.

Halloween Dance Party

Join the C+M Residential crew this 31st of October for our yearly Halloween Dance Party at JP Fawkner Reserve ! The fun kicks off at 4PM at 1A Francis Street, Oak Park. Expect a lively dance party, sausage sizzle, and prizes for the best costumes. And let's not forget—there'll be heaps of lollies for trick-or-treating!