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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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Will interest rates reach zero?

By Cameron Micallef · August 14 2019

Reading:

Invest

Will interest rates reach zero?

By Cameron Micallef
August 14 2019

Reading:

Will interest rates reach zero?

By Cameron Micallef · August 14 2019

Reading:

The Reserve Bank of Australia has indicated it will do “unconventional things” to kick-start the Australian economy, which could include cutting rates to zero lower bound.

In response to questioning from the House of Representatives standing committee on economics, Dr Philip Lowe outlined the economic case for zero rates and the lessons learnt domestically through the actions of other central banks.

The governor said that while it is unlikely to pass on four more rate cuts to bottom out at zero, global uncertainty makes such a move impossible to rule out.

“It's possible that we end up at the zero lower bound. I think it's unlikely, but it is possible,” he offered, before conceding that the bank is “prepared to do unconventional things if the circumstances warranted it.”

Mr Lowe went on to indicate that if the world’s economies do see continued rate cuts, Australia would likely follow in their footsteps.

“If, globally, all central banks go to zero, then we would have to consider that as well,” he said.

However, while Australia entering into negative interest rates is an idea that has been entertained, Mr Lowe outlined that he does not consider it an appropriate action for Australia.

"In Switzerland right now the interest rate is minus three-quarters of a per cent, in the euro area it's minus 40 basis points and in Japan it's minus 10. So, some central banks have gone negative. That's one possibility,” said Mr Lowe.

Despite signs “the economy may have reached a gentle turning point”, Mr Lowe said rates will remain low for the foreseeable future.

Explaining that it’s unlikely that rates would rise again until Australia reaches an unemployment rate of 4.5 per cent, Mr Lowe said the goal for the RBA is to have “wage growth consistent with the inflation target”.

“That's the world in which we'll be raising rates.”

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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.