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australian economy

Thumbnail image for “View from the Bridge”: The State of the Australian Real Estate Market

“View from the Bridge”: The State of the Australian Real Estate Market

What is the state of the Australian real estate market? Luxury real estate agent Michael Marquette of Marquette Turner Luxury Homes in his View from the Bridge column looks at rental prices, the first home owners grant, coastal areas, price reductions, the sale of LJ Hooker, International Monetary Fund, and household debt.

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Thumbnail image for View from the Bridge: The Real Estate Hype

View from the Bridge: The Real Estate Hype

The Global recovery is very much in its infancy and Australia cannot escape the fact that we are part of the global economy. Australian Treasury Secretary Dr Ken Henry said yesterday that Australia’s growth would remain below its trend level for at least the next year. Sydney real estate agent Michael Marquette of luxury real estate agency Marquette Turner Luxury Homes continues, stating that Dr Henry went further to say that “evidence of a self sustaining recovery in private activity remains tentative at this time”.

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WISE GUY: Why Does the Australian Dollar Suddenly Have So Few Friends?

It was almost like you went to put the kettle on during the ad break and everything changed with the Australian Dollar: one minute we’re pushing (almost) the 1 AUD for 1 USD and within a few months the AUD is struggling to buy 60 cents US. Not being an economist, and learning on the […]

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Short Vs Long-Term Interests: The Challenge For Australia’s Banks

The Reserve Bank of Australia’s (RBA) decisions to decrease interest rates over the last few months were welcomed by borrowers and lenders alike, most recently with the 0.75% cut in October and the 1% cut in September. The reality is, however, that most of Australia’s lending institutions have chosen not to pass on the full […]

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Reserve Bank has blood on its hands – We must have further interest rate cuts – NOW!

Continued: Part 2 of a 2 Part Report The massive decrease in housing sales volumes has decimated State Government budgets as they lose hundreds of millions of dollars in would be stamp duty revenue. The flow on effect through to builders, other trades people, real estate agents and so many others throughout the economy is […]

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Australian Interest Rates Slashed by 0.75%

The Reserve Bank of Australia (RBA) has cut its key interest rate for the third month in a row as it attempts to prevent Australia’s economy stalling. The central bank trimmed three-quarters of a percentage point – or 75 basis points – off its key cash rate, reducing it to 5.25%, the lowest level since […]

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Australian Banks Quickly Respond to Rate Cut

Michael Marquette: In what can only be described as a momentus day for Australian real estate, most of the country’s largest lenders have already chosen to pass on the majority of the 1% interest rate cut to borrowers. The Commonwealth Bank, National Australia Bank and Westpac have reduced their variable rate by 0.8% of the […]

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Breaking News: Australian Interest Rates Cut

Finally the pressures upon Australians will be eased and we have a reason to look positively at the property market in 2008. As commented yesterday by Simon Turner in his Word on the Street article, The Reserve Bank of Australia at 2.30pm today announced that they would cut interest rates by 0.25% (25 basis points). […]

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Interest rates: the word on the street

The Reserve Bank of Australia will hold what could be a historic meeting tomorrow, Tuesday 2 September 2008. Should they decide to lower interest rates, it will be the first time in seven years that the cash rate has fallen after 12 successive rate rises. Most economists are suggesting there will be a cut by […]

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Australian building approvals head south

Compared to the previous year, building approvals fell 1.6% in February, despite an 8.7% rise in the number of private dwellings approved. The big driver was a very sharp 19.4% slump in private sector other dwellings, flats, units and townhouses. The Australian Bureau of Statistics (ABS) said the seasonally adjusted estimate for private sector houses […]

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