Property in Australia

Would a rate reduction revive the Australian housing market?

by mark on April 29, 2012

in Property in Australia

Would a rate reduction revive the Australian housing market?

As the Reserve Bank of Australia gets ready for Tuesday’s meeting there is widespread belief that a reduction of 0.25% is on the cards. Investors have wholeheartedly gambled on a reduction in base rates with some even suggesting a 0.50% cut is a possibility. If the Reserve Bank of Australia was to decide to maintain base rates at 4.25% after Tuesday’s meeting this would be a body blow for the economy and financial markets.

Why is there a need for a reduction?

Over the last few months, despite the fact that Australia has registered its 11th consecutive year of economic growth, there has been a marked slowdown in some areas of the economy. The mining industry continues to power ahead, despite the fact that the government has introduced new mining related taxes, and is expected to go from strength to strength in the medium to longer term. However, the more traditional businesses associated with the Australian economy have suffered and we are in the midst of a two tier economy. [click to continue…]

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