There’s little surprise with the RBA’s 0.5% interest rate increase announced this week, marking the fifth monthly rise in a row, and bringing the official cash rate to 2.35%. Knowing when the rises will be capped - or start to decline - is something everyone wants to know, and while we can’t predict the future, the RBA’s most recent statement expresses a view that the timing and increment of future rises will be guided by incoming changes and the ongoing outlook for inflation. The RBA’s expectation is that inflation will peak later this year, before gradually shifting back towards the 2–3% target it has been aiming to achieve by 2024, bringing back a more sustainable balance of demand and supply in our economy.
Those driven by their goal to purchase a property before the year ends have not been deterred, and this week’s results saw the resort-style first home at 763/3 Baywater Drive (1 bed in Palermo), a contemporary luxury duplex at 38a Correys Avenue, Concord (4 bed) and leafy and low-key sanctuary of 39/23A George Street, North Strathfield (2,2,1) snapped up and under exchange.
The strength of our today’s rental market has seen many homeowners decide to lease out their home and take full advantage of what the current environment has to offer. With much to consider, making the transition to landlord might be a move you’re interested in, and in this week’s blog we provide some guidance on how to maximise the potential of your rental and its return. Read it here.
Is property searching part of this weekend’s plans? We’ve got three new ones to share. 1914/11 Wentworth Place (2,2,1 in Marina Square) - an elevated and sophisticated home with private, soaring views over all the beauty Wentworth Point has to offer; 502/4 Nuvolari Place (1,1,1 in Palermo) - a quietly positioned and peaceful corner apartment overlooking gardens, with attractive building facilities; and 637/17 Marine Parade (2, 2, 2 in Catania) - a top floor corner sanctuary with wraparound entertainer’s terrace, radiant natural light and breezy ventilation from it two balconies.
Thanks for stopping by last Saturday's Father's day sausage sizzle. Your generosity raised a total of $242, which we'll double and donate to Camp Quality and the Wentworth Point public school P&C.
