February 05, 2016
RBA ends year with cash rate on hold
The Reserve Bank of Australia has decided to leave the cash rate on hold once more, marking the seventh consecutive month that the cash rate has been 2%.
A better than expected consumer sentiment result combined with easing property prices ultimately drove the Board’s decision.
Data from CoreLogic RP Data shows the housing market continues to see an easing in the rate of capital growth, with new research showing dwelling values actually fell across five of the eight capital cities in November, taking the combined capitals index 1.5% lower.
Across the capital cities, Melbourne recorded the biggest drop, with values falling 3.5% over the course of the month. Meanwhile, in Sydney, property prices fell 1.4% over the course of the month.
This data makes it clear that Australia’s two hottest property markets have officially started to cool.
2015 - Australian Asset & Debt Statistics
Sometimes the noise prevents us from hearing the facts. The figures below show that Australians are certainly doing financially well.
Australia's total Housing worth is approximately $6-Trillion, surging by an
astonishing half a trillion dollars in the past year. So, with Housing Debt at approximately $1.5-Trillion, we have an equity of approximately $4.5-Trillion.
Australians have approximately $2.2-Trillion in Superannuation and approximately $1.7-Trillion in shares.
Approximately 66% of Australians are considered to be 'middle class' (having over US$100,00 of wealth), the highest percentage in the world, meaning that wealth is distributed fairly equally in comparison to our global counterparts.
Welcome to Our New Addition
Emma Nelson has joined us as our Client Relationship Manager bringing over 20 years of outstanding Client Service, including for her own successful business.
Together with her husband, she has bought and sold several houses and as a Mortgage Choice client herself, she is passionate about ensuring our clients receive her exacting level of care and attention to detail.
Emma is currently contacting all of our clients to touch base so we hope you will make her feel welcome.
Rising Star Award
I recently attended the Mortgage Choice State Conference, held here on the Gold Coast, and I was very fortunate and humbled to be awarded the 'Rising Star' Business Excellence Award and also to receive 'Silver Broker' status. Thank you so much to the Team and Clients of Mortgage Choice in Robina who make all of this possible.