Australian Property Valuations in Baulkham Hills, New South Wales | Property appraisal

Australian Property Valuations

Locality: Baulkham Hills, New South Wales

Address: Norwest Business Park 2153 Baulkham Hills, NSW, Australia

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25.01.2022 Happy Chinese New Year to all my friends and good fortune in the year of the Dragon. GONG XI FA CAI

25.01.2022 NSW is ranked as the slowing growth in economy. Western Australia is leading the way, followed by the ACT, Victoria and South Australia. Then there is a gap before NSW, Queensland, Tasmania and Northern Territory, ... The report comes as a study by the National Centre for Social and Economic Modelling at the University of Canberra shows more than one in 10 Australian households - 850,000 - spend so much on rent or mortgage payments they have little left over for other bills. The study, commissioned by Australians for Affordable Housing, found almost 300,000 NSW renters and home buyers were in housing stress - at risk of falling into poverty once they had paid for a roof over their heads. Growth in the June quarter was only 8 per cent above the decade-long average in NSW, compared with 28 per cent in WA, 21 per cent in the ACT, 16 in SA, and 12 in Tasmania, the second-poorest performer. Dwelling starts were down 18 per cent on long-term averages while those in Victoria were up 28 per cent and in the ACT up 82 per cent. Retail spending in NSW was up only 11 per cent on the decade-long average, compared with 20 per cent in WA.

24.01.2022 ASBESTOS... Once lodged in a persons lungs they stay there, resulting 10, 15, 20, 25 years later in cancer More than a million Australian homes are suspected of containing asbestos. The bad news is, if your place was built before 1990, its very likely to have at least one thing with asbestos in it. And with the weather warming up, perfect for some spring time maintenance and renovations, you have to wonder how many people will get exposed this week, month or year? Home re...novators are being warned stay clear of any material that could possibly contain asbestos. Dont sand, saw or interfere with it. Building products with asbestos in them are thought to be safe as long as they are not disturbed. But its when renovators start tearing down those walls or making changes that dust starts flying and tiny particles of the naturally occurring mineral, which are extremely sharp, become airborne. See more

23.01.2022 The Reserve BankBoard has decided to lower the cash rate by 25 basis points to 4.5 per cent, effective 2 November 2011 which will take Westpacs standard variable mortgage rate to 7.61 per cent and the Commonwealth Banks to 7.56 per cent, slicing $49 from the monthly payment on a $300,000 loan. TWO of the big four banks have passed on in full the Reserve Banks 0.25 percentage point interest rate cut and the others are set to follow within days. If the National Australia Ba...nk also cuts by 0.25 points its standard variable rate will fall to 7.42 per cent, the lowest of the big four and the first below 7.5 per cent in a year. The Reserve last adjusted rates on Melbourne Cup Day last year, inching them up by 0.25 points because of concern about inflation. But each of the big banks passed on more, the Commonwealth Bank pushing up its mortgage rate by almost twice the Reserves move, sparking outrage among customers and talk by the Treasurer of tough moves to rein in the banks. Those moves mean that even though the Reserves cash rate is back where it was, the big banks official rates remain much higher, although discounting means new customers can expect a better deal if they shop around. The Commonwealth Bank cut comes into effect on Friday and Westpacs a week later. A $300,000 mortgage holder will be $5000 a year better off than when mortgage rates peaked at 9.6 per cent before the financial crisis, and $5400 worse off than when they hit 5.1 per cent in the depths of the crisis. Neither of the two banks has announced a cut to its less politically sensitive business and credit card rates, each saying they are "under review". The bank believes commodity prices have peaked, taking some pressure off the economy. Its monthly commodity price index released after the meeting was down 3.9 per cent. The futures market is pricing in an 80 per cent probability of another cut next month.

23.01.2022 THREE Australian cities are now rated as more expensive than London, with the strong dollar and steep rents blamed for the high cost of living. Sydney, Melbourne and Perth now rank among the worlds 19 most expensive cities, while London dropped to 25th spot, according to the 2012 Mercer Worldwide Cost of Living Survey, used by companies to determine pay, loadings and benefits for far-flung employees. The top three Australian cities for cost lagged behind Tokyo and Luanda, ca...pital of oil-rich Angola, while Osaka and Moscow rounded out the four most costly cities. Sydney jumped to No.11 in the survey from No.14 last year, ahead of Sao Paulo and Rio de Janeiro. Melbourne jumped to 15th from No.21, ahead of Beijing and Shanghai. Cities in Australia and New Zealand witnessed some of the biggest jumps, as their currencies strengthened significantly against the US dollar, said Nathalie Constantin-Metral, who oversaw compilation of the list. "Demand for rental properties has also increased in all the Australian cities we rank. Coupled with very limited availability, the result has been very tight markets and increased prices." Perth soared 11 places to No.19 in the year as the mining boom pushed up costs across the board. Canberra leapt to 23rd place from 34th within one year, while Brisbane rose to 24th from 31st. Adelaide surged the fastest, climbing to 27th from 46th. Australian cities are among the most expensive to live and do business in. Housing remains among the most unaffordable in the developed world, says the anti-planning group Demographia. The Economist also ranks Australia as having among the most overvalued property markets. Over the 12 months to June, the Australian dollar has traded between US95 and $US1.10, well above its long-term average, amplifying costs for foreigners. Mercer, a global financial services and recruitment group, ranked 214 cities according to their comparative costs of transportation, food, and housing in US dollars. Karachi came 214th See more

22.01.2022 Commercial Property could be the next best investment RESIDENTIAL property has been Australias highest-returning asset class over the past 24 years - eclipsing shares - but over the next decade it will be outperformed by commercial property, according to research by ANZ. ANZ forecasts that equities will overtake residential property as the strongest performer over the next 10 years, but suggests that when risk is factored in commercial property will generate similar returns.... The report, Asset returns: Past, Present and Future, said owner-occupied housing had made annual average returns of 12 per cent over the 24 years since 1987 even when costs and taxes were factored in. Simple historical comparisons of equities and property are often used by property analysts to demonstrate housings superior capital returns but ANZ included costs, taxes, interest on loans and factored in the risk associated with investing. It found that owner-occupied housing had the highest returns, outperforming investment property, in part because of capital gains tax exemptions. But the banks analysis of future asset-class returns suggested equities would be the strongest performer over the next 10 years. Commercial property also shows strong returns, sitting between equities and owner-occupied housing, the report said. Risk-adjusted forecasts show that equities and commercial property will have similar returns. See more

22.01.2022 Sydney needs more houses - many more houses for a growing population Competition for rental properties is pushing up rents and driving buyers back into the market. The NSW government recognises this and has recently introduced policies to increase the supply of new housing in Sydney. ... These policies include a stamp duty benefit for first-home buyers for new houses only, cutting the age limit for the Home Builders Bonus and releasing 10,000 housing allotments in outer Sydney.

20.01.2022 PARRAMATTA ROAD MIGHT GET A NEW FACELIFT A TREE-LINED boulevard with trams from the city to Parramatta. Even a metro. And 100,000 new apartments, with 100,000 new jobs thrown in. Thats the latest ambitious plan for Parramatta Road, and the developer lobby believes its all achievable - within 25 years - if a new urban regional authority is established to manage it....Continue reading

20.01.2022 Why is the cost of housing higher in Sydney than Melbourne? Supply and demand. Sydney needs more houses - fast According to the Australian Bureau of Statistics, last financial year 24,206 new houses were approved in Melbourne, compared with 8298 in Sydney.... More has to be done to increase the density of Sydneys urban profile. This needs to occur through both an increase in medium-density and high-rise projects and an expedited regeneration of inner-urban brownfield sites into affordable residential accommodation.

19.01.2022 Sydney housing market has remained comparatively resilient to any price falls, with values actually rising 0.3 per cent over the past 12 months.

18.01.2022 Reserve Bank decision will boost rate of recovery Reserve Banks decision this week to reduce official interest rates by 50 basis points is good news. Falling rates and solid signs of an improving local economy provide the Sydney housing market with the prospect for increased buyer activity and further increases in median house prices this year.... Australian Property Monitors has recently reported that the Sydney median house price rose strongly by 1.4 per cent in the March quarter. The citys suburban regions also recorded encouraging increases in median house prices during the quarter. The only exception was the northern beaches, where prices were down marginally, by 0.5 per cent. The top performer was the central coast, where median house prices rose by 5.7 per cent. The next best were Sydneys south, up 5 per cent, Canterbury-Bankstown, up 4.8 per cent, and the western suburbs, where median house prices increased by 4.3 per cent. Despite the increases, price levels in some areas are still below those recorded a year ago. The worst performer over the past year was the lower north shore, where median house prices were down by 6.6 per cent. The city and east region fell by 5.3 per cent and the northern beaches was down 4.9 per cent compared with March 2011. Several regions, however, have recorded increases in the median house price in the past year. The best was the upper north shore, which was up 1.9 per cent. Sydneys west was up 1.8 per cent, while house prices in the south-west rose by 1.5 per cent over the year to March.

18.01.2022 WHO IS CONTROLLING THE INTEREST RATES IN AUSTRALIA? RESERVE BANK OR THE BIG BANKS.

17.01.2022 What is happening to our economy? New research shows the Reserve Bank is faced with an economy that is running at three different speeds. The Commsec quarterly State of the States report shows resource-rich Western Australia is the countrys standout economy. The report measures factors such as retail spending and housing against decade-long averages for each state and territory.... Behind WA are Victoria and the ACT, which are both benefiting from strong housing activity. The remaining five states and territories are in third place. Commsecs chief economist Craig James says the three-way split makes the RBAs job of setting interest rates quite difficult. "Western Australia is in a class of its own, and you cant set policy on the basis of Western Australia," he said. Commsec says the Reserve Bank will need to cut interest rates further this year to stimulate consumer activity in the broader economy. ABC. See more

17.01.2022 SAD DAY A HUGE LOSS TO THE WORLD STEVE JOBS IS DEAD... ... Einstein, Edison and now Steve Jobs. Think about it his parents gave him up for adotion because they caouldnt support him. Yet he became one of the richest man in the world and changed the world that we live in today. GOD works in mysterious ways........

17.01.2022 "Peace cannot be achieved through violence, it can only be attained through understanding." - Albert Einstein

17.01.2022 RESERVE BANK KEPT THE INTEREST RATES ON HOLD LAST MONTH. THE BIG BANKS DID NOT AGREE. RESULT.. HIGHER INTEREST RATES...

16.01.2022 Brisbane rents rose by an average of just 3.4 per cent, or $11 a week in one year.

15.01.2022 Why RBA left interest rates on hold? Keynesian purists are all clutching their foreheads, but actually its pretty fabulous that Australias politicians are competing with each other to promise budget surpluses. Its so much better than the appalling tax cut and spending competition of the last decade led by J.W. Howard. Politicians can really only be trusted with emergency fiscal policy, such as when they flooded the world, and Australia, with blind government spending in la...Continue reading

14.01.2022 WE THOUGHT THE INTEREST RATES WOULD FALL. To understand why so many economists - 24 out of 27 - got it wrong in tipping the Reserve Bank would cut interest rates yesterday, you need to know a bit more about the forecasting business. All Australias big banks and investment houses employ a team of economists to advise their clients - that is, investors - on the likely path for the economy. The more helpful the advice, the more likely it is that investors will use the services... of that bank. These private-sector economists produce regular forecasts for clients about the probable direction of economic growth, inflation, the exchange rate and interest rates during the coming year. Such client notes often find their way into the inboxes of journalists, providing a handy source of quotable quotes. The problem is, these economists are only human. Once an economist has made a call, for example, that rates will fall next month, it is a natural tendency to parse each data release for things that support their call. For example, last months jobs figures were decidedly ambiguous, revealing a bigger-than-expected fall in jobs but also a steady unemployment rate thanks to lower participation. Bearish economists dwelt on the job losses, bullish economists on the steady unemployment rate. In truth, its not an option for these guys to sit back and say: Look, I dont really know whats going to happen. Theyre paid to have insights. The best of the breed accept and embrace the inherent uncertainty in the forecasting biz. Wise employers and clients recognise this and accept forecasts for what they are: best guesses given available information. And then comes the media, which, it must be said, doesnt deal well with uncertainty (a human trait). Before every Reserve decision, the economists are surveyed by wire services such as Bloomberg and AAP about their rates call. This months Bloomberg survey found that 24 of 27 economists surveyed expected a quarter of a percentage point cut yesterday. Hence the media commentary that a rate cut was almost a sure thing. As it turns out, it was no such thing. The Reserve, for its part, feels under no compulsion to fall into line with this game calling. Its board members have the privilege of waiting until all the data is in before acting. And in recent weeks, the economic data have, on balance, taken a positive turn - or, at least, stopped getting worse. As the governor, Glenn Stevens, noted yesterday, the US is in moderate expansion and Chinese growth is quite robust. Commodity prices remain at quite high levels and in Europe some progress has been made. In Australia, growth is close to trend, joblessness is steady, house prices appear to be stabilising, inflation is close to target and interest rates are at close to their medium-term average. The banks may yet raise their lending rates, forcing further Reserve cuts. But for now the Reserves attitude can be summed up as: sitting pretty. SMH. See more

14.01.2022 Sydney rents have risen by as much as 13 per cent in the last year, with the biggest hike at Edgecliff in the eastern suburbs. Tenants are now paying about $60 more a week than they were a year ago. The Sydney suburbs of Edgecliff, Randwick, Ryde, Newtown, Surry Hills and Neutral Bay all recorded rent increases of more than 10 per cent for new tenancies in the past year.

14.01.2022 WHAT IS HAPPENING TO NSW ECONOMY? THE NSW economy will be hit this year, especially as the finance sector, one of the states biggest employers, sheds jobs in response to rising costs and slowing demand, the Treasurer, Mike Baird, has warned. The warning came as Australias third biggest bank, ANZ, announced it would slash its Australian workforce by 1000 and freeze most executive salaries for the rest of this year. The bank cited "intense pressure on margins associated with ...Continue reading

12.01.2022 WHAT IS HAPPENING TO LARGE RETAIL ? Australians are global leaders we are early adopters of technology, have an enviable record of scientific discovery and a resurgent cricket team hopefully on a path back to world domination. For much of the rest of our economic existence, we tend to follow the trends of our North American and European cousins. Weve been lucky enough to escape much of the economic pain theyve suffered, but our businesses and economic institutions tend to...Continue reading

11.01.2022 Australias worst trade deficit in 2 years. Australia has posted a surprise trade deficit in January, its worst in almost two years, as exports slumped and import volumes rose. Australian Bureau of Statistics figures show the balance of goods and services recorded a deficit of more than $670 million in the month, seasonally adjusted, compared with a revised surplus of more than $1.3 billion in December. Economists had been forecasting a surplus of around $1.5 billion for Janu...ary. The value of exports dropped 8.2 per cent while import values dipped 1.1 per cent. See more

11.01.2022 The Reserve Bank has left interest rates unchanged at its first board meeting of the year, keeping the official cash rate at 4.25 per cent. In a statement, RBA governor Glenn Stevens said progress had been made to ease the "acute financial pressures" on banks in Europe late last year and the mood on financial markets had since improved. Mr Stevens pointed to signs of moderate growth in the United States economy as well as "robust" indicators of growth in China in the second h...alf of last year. Expansion in the Australian economy was close to trend, he said, although data pointed to its multi-speed nature and the Australian dollar had appreciated more than the central bank had expected. Federal Treasurer Wayne Swan said the decision recognised the strength of the Australian economy. "In doing this today the Reserve Bank has struck a balance between global uncertainty on the one hand and Australias strong economic fundamentals on the other," Mr Swan said. The board noted that the consumer price index had declined as forecast, and the RBA expected underlying inflation to remain within its target range of 2 to 3 per cent in the next two years. But Mr Stevens said banks standard variable mortgage rates were now close to their medium-term average since the RBA moved to cut rates in November and December. "With growth expected to be close to trend and inflation close to target, the board judged that the setting of monetary policy was appropriate for the moment," Mr Stevens said. "Should demand conditions weaken materially, the inflation outlook would provide scope for easier monetary policy." Most economists had expected the central bank to reduce rates by 25 basis points, pointing to rising unemployment, a weak housing market, poor retail sales and easing inflation. But JP Morgan economist Ben Jarman was one of a minority who had tipped rates would stay on hold, saying the RBA would likely wait for last years cuts to filter through the economy. The Australian dollar soared after the announcement, reaching a record high against the euro and a six-month high against its US counterpart. At 3pm (AEDT) it was buying 107.8 US cents, 82.7 Japanese yen, 82.3 euro cents, 68.2 British pence and $NZ1.29. ABC. See more

09.01.2022 FENCE DISPUTE COSTS OVER $100,000 As walls go, it was hardly great. But the costs involved when the one- metre-high retaining wall started collapsing between two holiday homes on the NSW north coast certainly were. The Hawks Nest neighbours became embroiled in a six-year feud over the wall and its subsequent pile of 25 to 30 bricks. Part of the dispute, over trespass, went all the way to the NSW Supreme Court and cost both parties more than $100,000, despite one expert tellin...Continue reading

08.01.2022 What is happening to the Sydney property market ? Do you think its a good time to invest in the residential ????

08.01.2022 AUSTRALIA $480 MILLION TRADE DEFICIT The Australian share market has slipped following the release of weak trade figures for Australia. Bureau of Statistics figures show Australia recorded a surprise trade deficit of $480 million in February on a seasonally adjusted basis, the second consecutive monthly deficit. Economists had been forecasting a surplus of around $1.1 billion. The market dipped at the open following weak leads from markets in the United States and Europe over...night, and suggestions from the United States Federal Reserve that there was no need for further economic stimulus in the US. It has since declined further; at 11:55am (AEST) both the benchmark ASX 200 and the All Ordinaries Index were 0.4 per cent lower at 4,320 and 4,405 respectively. The major mining companies were struggling, BHP Billiton has dropped 2 per cent and Rio Tinto was off 0.9 per cent. The big banks were mixed, with Westpac gaining 0.8 per cent while Commonwealth Bank, ANZ Bank and NAB all heading in the other direction. Insurance company QBE has added 2.6 per cent after reaffirming its profit forecast. The Australian dollar has declined against most major currencies since the release of the trade figures and was worth 102.7 US cents, 85 Japanese yen, 77.9 euro cents, 64.7 British pence and $NZ1.26. On commodity markets the spot gold price was lower at $US1,642.89 an ounce, while West Texas Crude oil was worth $US104 a barrel and Tapis Crude oil was worth $US131.37 a barrel. See more

08.01.2022 PLENTY OF LIFE IN THE SYDNEY PROPERTY MARKET An obituary for the Sydney housing market might have been prematurely penned, Sydney property agent Starr Partners chief executive Doug Driscoll said. While a boom is not likely this year, with experts expecting only single digit growth rates, the Sydney market will remain robust. "Theres plenty of life in the old girl yet," Mr Driscoll said. ...Continue reading

08.01.2022 Melbourne rents have increased by more than 12% in one year. Thornbury, Oakleigh, Fairfield, Carlton North, South Yarra, Kew and East Melbourne recorded rents rise by at least nine per cent. Thornbury had the highest increase of 12.2 per cent.

08.01.2022 What is happening to the Sydney property market ? Do you think it's a good time to invest in the residential ????

07.01.2022 HOLIDAY BEACH HOMES GOING FOR A SONG CASHED-UP bargain hunters are cleaning up on the NSW coast, as holiday-home vendors drop their price by up to 50 per cent after years on the market. A Domain survey this week of agents up and down the coast from Tweed Heads to Eden about the state of the holiday home market came up with mixed results. An agent in South West Rocks said last year was the slowest year for sales in a decade. Another at The Entrance noticed improved inquiries t...his year. Among the best deals on the far south coast was an unrenovated seaside cottage at Eden, which sold for $200,000. Those in the market for a holiday house are often amazed at the low prices for property so close to the water. A fibro cottage with Jervis Bay views across the road from a waterfront reserve at Callala Bay, was originally listed at $950,000 in October 2006. It was down to $510,000 At nearby Currarong Malcolm and Sandra Cocoris, of the Blue Mountains, picked up a weatherboard cottage for $300,000 on December 2 last year. It was first listed at $400,000 in August 2010. He said they put it straight up for holiday rental and it was already booked out for most of this month and February, attracting rent of $1000 a week. Few would be surprised some of the biggest discounts have been for top-end holiday homes. On the far north coast, a six-bedroom home at Casuarina, south of Kingscliff, sold last year for $1.05 million, after first being listed for $2.25 million just a year earlier. See more

07.01.2022 WHAT WILL THE BANKS DO? The Reserve Banks decision to leave its cash rate at 4.25 per cent is going to cause some hand-wringing inside the big banks. Regardless of whether you think the banks are selfish bastards or not, its a fact that earnings are under pressure. This is mainly coming from a slump in loan growth, which is running at about a quarter of its pre-global crisis pace, but the banks basically have to cop that. Their best way to prop up profits is to increase len...Continue reading

06.01.2022 Reserve Bank decision will boost rate of recovery Reserve Bank's decision this week to reduce official interest rates by 50 basis points is good news. Falling rates and solid signs of an improving local economy provide the Sydney housing market with the prospect for increased buyer activity and further increases in median house prices this year.... Australian Property Monitors has recently reported that the Sydney median house price rose strongly by 1.4 per cent in the March quarter. The city's suburban regions also recorded encouraging increases in median house prices during the quarter. The only exception was the northern beaches, where prices were down marginally, by 0.5 per cent. The top performer was the central coast, where median house prices rose by 5.7 per cent. The next best were Sydney's south, up 5 per cent, Canterbury-Bankstown, up 4.8 per cent, and the western suburbs, where median house prices increased by 4.3 per cent. Despite the increases, price levels in some areas are still below those recorded a year ago. The worst performer over the past year was the lower north shore, where median house prices were down by 6.6 per cent. The city and east region fell by 5.3 per cent and the northern beaches was down 4.9 per cent compared with March 2011. Several regions, however, have recorded increases in the median house price in the past year. The best was the upper north shore, which was up 1.9 per cent. Sydney's west was up 1.8 per cent, while house prices in the south-west rose by 1.5 per cent over the year to March.

05.01.2022 We need an election NOW Government totally dysfunctional: Tony Abbott Labors internal war over the leadership has paralysed the federal government, made it totally dysfunctional and a fresh election is needed, Opposition Leader Tony Abbott says.... Mr Abbott has seized on reports Foreign Minister Kevin Rudd is preparing to challenge Prime Minister Julia Gillard for the Labor leadership. The Australian reports Mr Rudd has 40 of the 52 votes he needs to topple Ms Gillard, predicting he will have a tilt at the leadership ahead of the May federal budget. It has also been reported the NSW Right faction will allow its members to vote for whoever they want. Mr Abbott said the federal government was completely dysfunctional and the situation could not go on. "Right now in Canberra the government is at war with itself," he told reporters in Brisbane, while campaigning with LNP leader Campbell Newman. "Weve really got three Labor parties at the moment, weve got the Gillard Labor party, the Rudd Labor party and the neither Labor party." The problem was not the Labor leader but the partys policies, with another election needed, Mr Abbott said. "Weve got to change the policies of the government, not just change the leader of the government. "And the way to change policies is to change the government and have an election. "I think the government of Australia is too important to be paralysed while the faceless men try and decide who the leader should be." Mr Rudd campaigned in Brisbane yesterday, with Mr Abbott saying while he and Mr Newman had been talking to Queenslanders, the foreign minister had basically been talking about himself. "If the problem is that we have a totally dysfunctional federal government it cannot go on like this," Mr Abbott said. "In the end its not just a question of changing leaders. "I would like to see our country better governed. "It wont be better governed until weve got better policies in place." Finance Minister Penny Wong reaffirmed her support for Ms Gillard when pressed on the leadership issue on Saturday. "Ive got a job to do," she told Sky News. Senator Wongs response mirrored that of the prime minister when questioned on Friday if it would be better to have a spill and clear the air once and for all. Sydney Morning Herald See more

04.01.2022 Australia’s worst trade deficit in 2 years. Australia has posted a surprise trade deficit in January, its worst in almost two years, as exports slumped and import volumes rose. Australian Bureau of Statistics figures show the balance of goods and services recorded a deficit of more than $670 million in the month, seasonally adjusted, compared with a revised surplus of more than $1.3 billion in December. Economists had been forecasting a surplus of around $1.5 billion for Janu...ary. The value of exports dropped 8.2 per cent while import values dipped 1.1 per cent. See more

02.01.2022 Reserve Bank downgrades Australian economy. THE Reserve Bank has dramatically downgraded its assessment of the Australian economy ahead of the budget, slashing its forecasts for growth and inflation and opening the door to further interest rate cuts. The banks latest quarterly review, released yesterday, predicts "subdued" jobs growth, "weak" building activity, "soft" government spending, weak business investment away from the mining sector and inflation near the bottom of...Continue reading

02.01.2022 INTEREST RATE REMAIN UNCHANGED At its meeting on 5 April 2016, the Reserve Bank Board decided to leave the cash rate unchanged at 2.0 per cent. Recent information suggests that the global economy is continuing to grow, though at a slightly lower pace than earlier expected. While several advanced economies have recorded improved growth over the past year, conditions have become more difficult for a number of emerging market economies. Chinas growth rate has continued to moder...ate. Commodity prices have generally increased a little recently, but this follows very substantial declines over the past couple of years. Australias terms of trade remain much lower than they had been in recent years. Sentiment in financial markets has improved recently after a period of heightened volatility. However, uncertainty about the global economic outlook and policy settings among the major jurisdictions continues. Funding costs for high-quality borrowers remain very low and, globally, monetary policy remains remarkably accommodative. In Australia, the available information suggests that the economy is continuing to rebalance following the mining investment boom. Consistent with developments in the labour market, overall GDP growth picked up over 2015, despite the contraction in mining investment. The pace of lending to businesses has also picked up. Inflation is quite low. Recent information has confirmed that growth in labour costs remains quite subdued. Given this, and with inflation also restrained elsewhere in the world, inflation in Australia is likely to remain low over the next year or two. Given these conditions, it is appropriate for monetary policy to be accommodative. Low interest rates are supporting demand, while supervisory measures are working to emphasise prudent lending standards and so to contain risks in the housing market. Credit growth to households continues at a moderate pace, albeit with a changed composition between investors and owner-occupiers. The pace of growth in dwelling prices has moderated in Melbourne and Sydney and has remained mostly subdued in other cities. The Australian dollar has appreciated somewhat recently. In part, this reflects some increase in commodity prices, but monetary developments elsewhere in the world have also played a role. Under present circumstances, an appreciating exchange rate could complicate the adjustment under way in the economy. At todays meeting, the Board judged that there were reasonable prospects for continued growth in the economy, with inflation close to target. The Board therefore decided that the current setting of monetary policy remained appropriate. Over the period ahead, new information should allow the Board to assess the outlook for inflation and whether the improvement in labour market conditions evident last year is continuing. Continued low inflation would provide scope for easier policy, should that be appropriate to lend support to demand. MEDIA RELEASE RBA 05/04/2016 See more

01.01.2022 The Reserve Bank Board decided to leave the cash rate unchanged at 4.25 per cent. Information becoming available since the December meeting confirms that economic conditions in Europe were weakening late last year, with risks still skewed to the downside. Reflecting this, most forecasters have lowered their forecasts for world GDP growth this year to a below trend pace. That said, recent data from the United States suggest a continuing moderate expansion after a soft patch in...Continue reading