This afternoon, the Reserve Bank of Australia has officially reduced the interest rate by 25 basis points. The official cash rate is now 2.75% p.a. (This is the wholesale rate before bank margins). The most competitive variable rates (subject to announcements) should range between 5.20% – 5.55% p.a. depending on the LVR and amount borrowed. [...]
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Sydney and Melbourne have experienced their strongest start to the year since the boom period of 2010 after the Global Financial Crisis in 2008-09. Weekend auction clearance rates have averaged 70 per cent in both capitals over the past month which is well ahead of the 60 per cent averaged by Melbourne a year ago [...]
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Emporia, named in reference to the Grand Edwardian retail stores of Prahran is the latest state of the art, chic apartment block to be built along 132 commercial road, beside The Cullen Hotel, one of the three Art series hotel in St. Kilda, South Yarra precinct.
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In a recent article by Nichola Saminather from Bloomberg, it was reported that Australia’s home prices are falling at the fastest rate in more than two years and may have a glut of properties. The country is also set for a similar US-style crash. The article can be viewed by clicking on this link. Let’s [...]
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This afternoon, the Reserve Bank of Australia has left interest rates unchanged (since November 2010). The official cash rate remains at 4.75% p.a. (this is the wholesale rate before banks’ margins) The most competitive variable rates are around 7.00% p.a. Monthly repayments (P&I over 30 yrs) will be approx $662.00 per month per $100K borrowed. [...]
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