Reserve Bank of Australia decided to raise the cash rate

The Board decided to raise the cash rate by 25 basis points to 3.25 per cent, effective 7 October 2009.

The global economy is resuming growth. With economic policy settings likely to remain expansionary for some time, the recovery will likely continue during 2010 and forecasts are being revised higher. The expansion is generally expected to be modest in the major countries, due to the continuing legacy of the financial crisis. Prospects for Australia’s Asian trading partners appear to be noticeably better. Growth in China has been very strong, which is having a significant impact on other economies in the region and on commodity markets. For Australia’s trading partner group, growth in 2010 is likely to be close to trend.

Sentiment in global financial markets has continued to improve. Nonetheless, the state of balance sheets in some major countries remains a potential constraint on their expansion.

Economic conditions in Australia have been stronger than expected and measures of confidence have recovered.  Some spending has probably been brought forward by the various policy initiatives. As those effects diminish, these areas of demand may soften somewhat. Some types of capital spending are likely to be held back for a while by financing constraints, but it now appears that private investment will not be as weak as earlier expected. Medium-term prospects for investment appear, moreover, to be strengthening. Higher dwelling activity and public infrastructure spending is also starting to provide more support to spending. Overall, growth through 2010 looks likely to be close to trend. Read the rest »

PropertyTalk Forum

PropertyTalk.com is a free and independent online community dedicated to property investment discussion forums worldwide. The discussion forums are the most active for property investment discussion in New Zealand and arguably Australasia. Experienced and high profile property investors, authors and educators are online and sharing their knowledge and experience.

A raft of issues are discussed with National and International service and product providers, so it is often said that PropertyTalk.com goes a long way in promoting good business practices in the Property sector.

“The value of PropertyTalk.com is that it is the first online resource centre to bridge-the-gap between regions around the world for property investors. Where the latest daily property news, market driven articles, views and opinions inform and educate investors 24 x7 for free.”  Donna Richardson – PropertyTalk.com

Receive their daily sourced Property News, monthly Newsletter and RSS feeds provide news for UK, USA, Asia, Australia, New Zealand and Europe.

Go now to: Australia – PropertyTalk.com

NSW Rent and Sales Report

The new New South Wales, Australia Rent and Sales Report is now available. The Rent and Sales Report is the sole authoritative source of data on NSW rent movements. Issue 86 covers the December quarter for rent and the September quarter for sales.

Go now to: Issue 86 – Housing NSW