High Australian Dollar
I’m sure you will have read this past week about how the Australian dollar now buys $US 1. This, of course, affects US investors, making our residential real estate, in their eyes, twice the bubble.
In US dollar-terms, Sydney real estate has risen by 20 per cent over the past four months. Having said that, I’m not sure therewere too many US investors looking at our residential property market in the first place, given what they have gone through with their market. Read more
Rate Rise Likely
The Reserve Bank is preparing to lift interest rates, declaring in its latest board minutes ”rates will need to rise” and that it cannot ”wait indefinitely”.
The unusually hard language follows an October board meeting that was ”finely balanced” with three of its nine members absent, including the academic Warwick McKibbin, who is believed to support pushing up rates. Read more