Dear client MARKET UPDATE- OCTOBER 2023 As we look back at the month of October, Adelaide’s housing market continues its steady climb, reaching unprecedented heights. August witnessed an increase of 1.1% in Adelaide’s housing values, pushing them to a new record high. Currently, the median house value in Adelaide is $682,642. Over the…
January 2023 Dear Client 50% OF AUSSIE MARKETS DECLINED IN 2022: CORELOGIC The number of Australian markets that reported a decline during the December quarter grew from less than 10 per cent in 2021 to 80.7 per cent last year, according to CoreLogic’s latest Mapping the Market report. This trend was part of a larger market downturn, which…
Dear Client PROPOSED TENANCY REFORMS The SA Government has officially launched an extensive review of the Residential Tenancies Act with the release of a discussion paper on 15 November entitled “Modernising SA’s Renting Laws”. The issues dealt with in the discussion paper include renting with pets, shared housing, and the practice of rent bidding. Standardised…
Dear Client After a series of bullish interest rate hikes in recent months, the Reserve Bank of Australia has tempered its approach, increasing the cash rate by 25 basis points at its October meeting. A large proportion of economic experts had tipped another 50 basis point jump, but the sixth successive rise lifted the…
Inflation and the Housing Market ABS figures showed the highest annual rate of inflation in June 2022 in almost 32 years. As we head into the new financial year, annual inflation is expected to peak at over 7%, according to the Treasury and the RBA. This means household budgets will be tighter, savings will be…
FAREWELL & CONGRATULATIONS Rakhi Bandara officially finished up at DB Philpott on Friday 8 July 2022. Rakhi was an invaluable member of the team but has decided to move into a commercial letting and management role. The management team wishes Rakhi well in his future pursuits. As one door closes another opens and we have…
It comes as no surprise that the Reserve Bank of Australia has raised the cash rate by 50 bps to 0.85% during its June 2022 meeting. What was surprising was the level of the increase and the back-to-back nature of the rate hike. This was the first back-to-back rate hike in 12 years, as the…
According to CoreLogic, auction figures are down 40.2 per cent this week, with 1,722 homes set to go under the hammer across the major capital cities this week, well below the 2,879 auctions held the previous week. This week’s volumes represent the fourth-quietest week of the year, only bettering the Easter long weekend and the…
The RBA has finally conceded that rising inflation and stronger than anticipated wages growth have brought forward the likely timing of the first increase in interest rates. A June interest rate lift looks more likely than not, with the Reserve Bank of Australia (RBA) itself hinting rates could head north sooner than anticipated as…
Flashback two years to March 2020, when a collective cloud of anxiety first loomed as the state was plunged into our first COVID-19 lockdown. We didn’t know then, of course, the extent to which the government would cushion the pandemic’s blow, propping up the economy over the next two years with low interest rates and…
