| | Hi %FIRSTNAME%,
While the autumn wind blows colder, things are heating up in the property market as the Reserve Bank of Australia (RBA) decided to slash the official cash rate to a historic low of 0.50% at its meeting today.
At the previous meeting, RBA governor Philip Lowe said that despite expectations of stronger global growth this year, the recent coronavirus outbreak has become a source of uncertainty. “In the short term, the bushfires and the coronavirus outbreak will temporarily weigh on domestic growth.” He also said that we may expect an extended period of low interest rates. “The Board will continue to monitor developments…It remains prepared to ease monetary policy further if needed,” Lowe said.
The cash rate is the lowest it’s ever been and lenders are offering competitive rates to help you achieve your property goals. If you have had your mortgage for a while, now’s the perfect time to make the most of the cash rate cuts, so let us help you out. Get in touch today!
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| | Reserve Bank of Australia Cash Rate Announcement |
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| RBA |  | 0.50% |
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All dwellings
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Auctions / clearance rate
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Private sale
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Home Values
% Change Monthly
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VIC
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999 / 79%
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1012
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▲ 1.24 | |
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NSW
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552 / 83%
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1352
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▲ 1.71 | |
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ACT
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42 / 74%
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92
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▲ 0.76 | |
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QLD
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134 / 49%
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920
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▲ 0.57 | |
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WA
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5 / 0%
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402
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▲ 0.30 | |
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NT
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5 / 60%
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10
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▼ ‑ 1.37 | |
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TAS
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1 / 100%
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185
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▲ 0.77 | |
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SA
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41 / 78%
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285
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▲ 0.06 | |
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| | | Monthly Home Values figures as at February 29, 2020. Australian auction results, clearance rates and recent sales for the week ending March 1, 2020. The clearance rate is preliminary and current as at 9:36 am, March 2. We recommend that you seek independent financial and taxation advice before acting on any information in this email. It contains general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances. Your full financial situation will need to be reviewed prior to acceptance of any offer or product. Interest rates are subject to change without notice. Lenders terms, conditions, fees and charges apply.
Sources: CoreLogic RP Data Daily Home Value Index: Monthly Values, www.realestate.com.au, www.rba.gov.au |
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