Hello and a very warm welcome to the final of our winter newsletters for 2017. According to the Bureau of Meteorology, Australia has just officially experienced the hottest July in 100 years.
There is however some evidence of cooling in the housing market; while the month of July showed a strong rise of 1.5% in combined capital city dwelling values, the quarterly trend in capital gains, relative to early 2017, is moderating.
The market appears to be gradually responding to higher mortgage rates, tighter credit policies, and affordability challenges. The slow-down in growth conditions is most evident across the hottest markets of Sydney and Melbourne. You can read more about this under Corelogic RPData below.
The Australian dollar has risen since last month, possibly due to economic growth results for the first 3 months of this year, RBA economic growth expectations, and the falling US dollar. However, comments from the RBA indicate it’s unlikely there will be any cash rate movements until late next year. As anticipated, at its meeting today, the RBA has left the cash rate unchanged at 1.50 per cent. With no cash rate movement from the RBA, interest rates remain competitive so it could be a good time to refinance or purchase a home or investment property.
Featured properties this month include Ozone Apartments at popular Mitchelton, and DunkirkPlace Apartments at neighbouring Gaythorne, located 7 and 8km north-west of Brisbane CBD.
To find out what is on this month in the River City, go to Brisbane Industry Toolbox – a comprehensive guide to Queensland’s capital. Here on these pages you’ll find an inspiring collection of places to explore in and around Brisbane – from the natural pleasures of parklands to the urban appeal of art galleries, wining and dining, urban village hotspots, nights out on the town, boutique hotels, shopping, cinemas, and everything in between.