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After an initial period of extreme uncertainty, the rhetoric around the Australian property market appears to have shifted into a new phase in response to the ongoing coronavirus pandemic.

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On this episode of The nestegg Podcast, host Grace Ormsby is joined by the founder and CEO of Upside Realty, Adam Rigby, to delve into how COVID-19 has been affecting different demographics within the property sector, including renters, landlords, investors and retirees.

Adam touches on the pros and cons of potentially removing stamp duty, his predictions for marketplace trends over the coming months, and the importance of picking quality over timing when considering an investment.

Thanks Adam, for sharing your insights with the nestegg podcast team!

You can keep up to date with what Upside Realty are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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How low can the RBA go?

By Cameron Micallef · July 18 2019

Reading:

Invest

How low can the RBA go?

By Cameron Micallef
July 18 2019

Reading:

How low can the RBA go?

By Cameron Micallef · July 18 2019

Reading:

The RBA has revealed the factors behind the second rate cuts in as many months and has left the door open to further changes in the near future.

The Reserve Bank beat its previous record low this month, by taking off 25 basis points, leaving the official cash rate at 1.00 per cent.

In its minutes released on Tuesday, the governing body said that the labour market and low consumer spending were the two factors that are holding the economy back.

“Although there had been a modest pick-up in wages growth in the private sector, wages growth had remained low overall. In combination, these factors suggested that spare capacity was likely to remain in the labour market for some time,” said RBA governor Philip Lowe.

Mr Lowe said higher growth in disposable income was expected to support consumption but that outlook was uncertain, despite the short term growth thanks to the tax offset.

Economists predict further cuts

Sean Langcake, senior economist at BIS Oxford Economics, believes the wage data being released by the Australian Bureau of Statistics will lead to further rate cuts by the end of the year.

“This is the first read on the labour market we have received since the RBA cut rates,” he said.

“They will be looking for further employment growth in the coming months, and for the unemployment and underemployment rates to come down, ultimately encouraging wage growth. We expect the RBA board to cut rates at least once more this year, taking the cash rate to 0.75 per cent by year end,” said Mr Langcake.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.