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Reserve Bank of Australia (RBA) kept the cash rate at 0.10%

By Conveyancing Blogger - Sydney Conveyancing - Fixed Price Conveyancing in Sydney & across NSW by Licensed Conveyancers. Call 02 6989 4656. on Jul 19, 2021 9:55:16 AM

In line with expectations, the Reserve Bank of Australia (RBA) kept the cash rate at 0.10% at its sixth monetary policy meeting this year.
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NSW Stamp duty calculator - Sydney Conveyancing

By Conveyancing Blogger - Sydney Conveyancing - Fixed Price Conveyancing in Sydney & across NSW by Licensed Conveyancers. Call 02 6989 4656. on Jul 28, 2020 3:19:52 PM

Wonder how much stamp duty you'll pay on a property?

 

If you are first time buyer and/or buying a house as a primary residence you might be eligible for a concession on the stamp duty. Generally, if you're a foreign resident then you need to pay extra 8%.
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1 min read

Bushfire Impact on Property Price

By Sydney Conveyancing - Fixed Professional Fees Conveyancing in Sydney & across NSW on Jul 13, 2020 5:45:12 PM

Property price can fluctuate with impact of Bushfire in any given area.

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1 min read

Government supporting First Home Buyers

By Sydney Conveyancing - Fixed Professional Fees Conveyancing in Sydney & across NSW on Jul 7, 2020 10:22:09 AM

NSW Government has developed a brand new package to help and improve affordability of housing.

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2 min read

No Festive Interest Rate Cheer

By Sydney Conveyancing - Fixed Professional Fees Conveyancing in Sydney & across NSW on Dec 3, 2019 5:43:06 PM

As expected by the majority of commentators, the RBA today decided to leave the cash rate at its current record low of 0.75%, this despite many economists pushing for yet another cut, as weak consumer spending and stagnant wage growth continues to keep a lid on business investment, jobs numbers, and inflation. In stark contrast to these economic indicators, the national property index experienced its biggest jump in 16 years over the past month.

In his announcement today, Reserve Bank Governor Philip Lowe stated –


The outlook for the global economy remains reasonable. While the risks are still tilted to the downside, some of these risks have lessened recently.

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After a soft patch in the second half of last year, the Australian economy appears to have reached a gentle turning point. The central scenario is for growth to pick up gradually to around 3 per cent in 2021.

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There are further signs of a turnaround in established housing markets. This is especially so in Sydney and Melbourne, but prices in some other markets have also increased recently. In contrast, new dwelling activity is still declining and growth in housing credit remains low.


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The easing of monetary policy this year is supporting employment and income growth in Australia and a return of inflation to the medium-term target range. The lower cash rate has put downward pressure on the exchange rate, which is supporting activity across a range of industries.

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Given these effects of lower interest rates and the long and variable lags in the transmission of monetary policy, the Board decided to hold the cash rate steady at this meeting while it continues to monitor developments, including in the labour market. The Board also agreed that due to both global and domestic factors, it was reasonable to expect that an extended period of low interest rates will be required in Australia to reach full employment and achieve the inflation target. The Board is prepared to ease monetary policy further if needed to support sustainable growth in the economy, full employment and the achievement of the inflation target over time.




To read the full statement, go to https://www.rba.gov.au/media-releases/2019/mr-19-33.html

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1 min read

First Home Owners Deposit Scheme: Are you a first home buyer?

By Sydney Conveyancing - Fixed Professional Fees Conveyancing in Sydney & across NSW on Nov 4, 2019 3:04:39 PM

Details have been released on how the government is assisting first home buyers to purchase their first property.

 

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Sydney property market shows signs of come back...

By Sydney Conveyancing - Fixed Professional Fees Conveyancing in Sydney & across NSW on Aug 29, 2019 4:22:23 PM

"Mortgage Choice is the latest property-exposed business to detect signs the property market is turning, with loan applications up "significantly" in recent months, in stark contrast to a year in which its profits were battered by falling house prices and tighter credit." as quoted by Sydney Morning Herald.

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Reserve Bank of Australia Board decided to lower the cash rate by 25 basis points to 1.50 per cent, effective 3 August 2016

By Sydney Conveyancing - Fixed Professional Fees Conveyancing in Sydney & across NSW on Aug 22, 2019 8:17:43 PM

Reserve Bank of Australia (RBA) met for its August meeting and decided to cut the official cash rate by 25 basis points to just 1.50 per cent. This result was widely predicted with many experts tipping the RBA would lower the rate to provide some stimulus for the economy following last week's disappointing CPI numbers. At its meeting today, the Board decided to lower the cash rate by 25 basis points to 1.50 per cent, effective 3 August 2016.

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1 min read

Selling your property at auction? Here are some simple strategies that can help you achieve better results.

By Sydney Conveyancing - Fixed Professional Fees Conveyancing in Sydney & across NSW on Aug 22, 2019 8:15:46 PM

Have you decided to selling your property at auction? Here are some simple strategies that may help you get a better result.

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What is land tax?

By Sydney Conveyancing - Fixed Professional Fees Conveyancing in Sydney & across NSW on Aug 22, 2019 8:14:51 PM

Land tax is a tax that is applied to the value of any property you own or jointly own which is more than the land tax threshold as at midnight on 31 December of every year and is not applicable to your home or your principal place of residence.

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