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top 10 agents

Alexander Phillips

Top 1

Year of Experience: 21

Support Staff: 3

Residential Property Listings Secured: 241

Total Value of Residential Properties Sold: $ 706,737,500

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1/10
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top suburbs

12 month growth
Manyana
70.61%
Tamarama
70.55%
Box Hill
64.95%
Goodwood
64.38%
Bawley Point
63.64%
Lennox Head
62.11%
Casuarina
62.08%
Queenstown
61.31%
Warana
60%
Cooroibah
59.43%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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RBA confirms future rate

By Nick Bendel
18 September 2014 | 1 minute read

The official cash rate will remain at a record-low 2.5 per cent “for the next year at least”, according to the Reserve Bank of Australia.

The cash rate has been at 2.5 per cent for 13 months after the Reserve Bank again chose not to act at its monthly meeting on September 2.

According to the minutes from the meeting, which were released yesterday, board members agreed that Australian banks were continuing to raise funds relatively cheaply.

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“Reflecting lower funding costs and competitive pressures, rates on Australian intermediaries' housing loans continued to edge down in August,” the minutes said.

“The average interest rate on all outstanding housing loans had fallen by around 15 basis points since the cash rate was reduced in August 2013.

“Members concluded their discussion of financial markets by noting that market pricing was for the cash rate to be unchanged at the September meeting and for the next year at least.”

The board also agreed there had not been a fall in mortgage lending standards and policies, despite the improved wholesale funding conditions driving an increase in competition.

“Members further observed that additional speculative demand could amplify the property price cycle and increase the potential for property prices to fall later,” the minutes said.

“The main risks in such a scenario would likely be to the stability of the macro-economy rather than the financial system, particularly if households were to react to declines in their wealth by cutting back on their spending.”

These risks require “ongoing close observation”, according to the board.

RBA confirms future rate
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Listen to other installment of the Real Estate Business Podcast
top 10 agents

Alexander Phillips

Top 1

Year of Experience: 21

Support Staff: 3

Residential Property Listings Secured: 241

Total Value of Residential Properties Sold: $ 706,737,500

VIEW COMPLETE REPORT
1/10
Do you have an industry update?

top suburbs

12 month growth
Manyana
70.61%
Tamarama
70.55%
Box Hill
64.95%
Goodwood
64.38%
Bawley Point
63.64%
Lennox Head
62.11%
Casuarina
62.08%
Queenstown
61.31%
Warana
60%
Cooroibah
59.43%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.