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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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Tuesday, 02 June 2020

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What the boss of the RBA thinks about the Australian economy

By Cameron Micallef · July 04 2019

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Invest

What the boss of the RBA thinks about the Australian economy

By Cameron Micallef
July 04 2019

Reading:

What the boss of the RBA thinks about the Australian economy

By Cameron Micallef · July 04 2019

Reading:

Reserve Bank governor Philip Lowe has issued his predictions and concerns for the Australian economy, after slashing rates to a new historic low.

Tuesday’s decision to lower the cash rate will help stimulate the economy in the face of weak growth, the RBA governor said.

In short, the RBA is looking to encourage more spending and confidence in business to employ more staff.

The RBA based its decision on some fundamental fine print, which is contributing to subdued, and often negligible, economic growth metrics.

The fine print

The Australian economy grew at a below-trend 1.8 per cent for the March quarter. Consumption growth has been subdued due to low income growth and declining house prices.

Increased investment in infrastructure is providing an offset while strong commodity prices are expected, partly in response to an increase in the prices of Australia’s export.

The main domestic uncertainty continues to be the outlook for consumption, although a pick-up in growth in household disposable income is expected to support spending.

Employment growth has continued to be strong. Labour force participation is at a record low, the vacancy rate remains high, and there are reports of skills shortages in some areas.

Inflation pressures remain subdued across the economy. Inflation is still anticipated to be boosted in June due to the increase in petrol prices.

Housing prices market remain soft, although there are some tentative signs that prices are now stabilising in Australia through its two main markets in Sydney and Melbourne.

Growth in housing credit has also stabilised recently, although demand for credit remains subdued and mortgage rates remain at a record low.

Global uncertainty

Uncertainty generated by the trade and technology disputes is affecting investments and means the risk of the global economy are tilted to the downside.

In many advanced economies, inflation remains subdued, unemployment rates are low, and wages growth picked up.

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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.