Ensure you never miss an issue of the
real estate business bulletin
Rates to fall in December: Survey

Rates to fall in December: Survey

by Reporter 0 comments

Staff Reporter

More than one third of Australians are expecting the Reserve Bank to slash rates again in December.

A new national survey, conducted by Loan Market Group, found 39 per of the respondents expect the RBA to cut rates on December 6, while 26 per cent think the RBA will hold fire on cutting rates til the New Year.

Of the 555 respondents, 27 per cent thought rates would stay on hold for the next six months, while only 8 per cent are anticipating a rate rise in the near future.

Loan Market chief operating officer Dean Rushton said the RBA's Melbourne Cup decision to cut the cash rate from 4.75 per cent to 4.5 per cent has been passed on in full by most lenders.

But he said consumers were looking for more relief from the RBA in the lead up to Christmas.

"The RBA cutting interest rates for the first time in more than two and half years did provide some clear direction for consumers," he said.

"But there is no doubt they will need to cut further to continue to shore up confidence in the current global environment.

"A recent survey we ran showed that the issues occurring in Europe were top of mind for consumers when considering their financial position and these issues are not going away and more cuts are needed to stimulate sectors of our economy."

le>.b-autolinks{text-decoration:underline}.b-autolinkshadowbox { display: inline; position: relative; cursor: pointer; color: #428bca;} .b-autolinkshadowbox:hover > span { display: block !important; } .b-autolinkshadowbox__links { white-space: nowrap; z-index: 999; display: none; left: 0; border: 1px solid #bfbfbf; border-radius: 5px; font-size: 12px; top: 12px;color: #000; padding: 10px; position: absolute; background-color: #FFF; box-shadow: 0px 0px 20px 1px #bfbfbf; } .b-autolinkshadowbox__links > a { display: block; padding: 3px 0; }
Rates to fall in December: Survey
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
The difference between an average agent and one who dominates

McGrath Crows Nest’s Peter Chauncy is number 10 in this year’s REB Top 100 Agents ranking. Peter, however, is more likely not surprised ...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?