Increased spending causes inflationary pressure.
Thursday, April 28th, 2011The Reserve Bank of Australia (RBA) reported yesterday that Australia’s Consumer Price Index (CPI)rose by 1.6% in the March quarter increasing the annual inflation rate by 3.3%, with economists predicting similar levels for the rest of 2011. This will undoubtedly cause the RBA to increase official cash rates to keep a hold on inflation. What effect will this have on the Perth property market? The residential and commercial property market is extreemly subdued at present with agents reporting a lack of buyers in the market. An increase or percieved future increase in interest rates will continue the subdued property market conditions and ...
Read moreRBA cash rate left at 4.75% as home loans decline
Wednesday, April 6th, 2011The WA Business News reported the Reserve Bank of Australia left the cash rate at 4.75% yesterday indicating “inflation was consistent with the bank’s medium-term objective of monetary policy”. National Australia Bank economists stated “It appears the Reserve Bank is still fairly comfortable with its mildly restrictive stance on monetary policy. We are of the opinion we are facing a two tiered economy with the resource based economy being strong and the small business and household economy being weaker. This weaker household economy may be the reason for the lowest month in home loan approvals for 10years. This along with other factors may ...
Read moreHistorical Report on Perth City Railway Station Sinking
Monday, April 4th, 2011‘Commercial Valuation Perth City Rail – WA Business news article – 23 January 2003 In December 2003, Garmony Property Consultants, formally known as John Garmony & Associates, prepared a valuation report on the Perth City Railway land for the City of Perth, based on sinking the railway line and selling off the land above for redevelopment. John Garmony valued the 10.2 hecatres of land above the railway at $110 million dollars. An extract from the WA Business News report titled “Report points to rail profit” dated 23 January 2003 is attached. Garmony Property Consultants licensed valuers in Perth provide valuation and consultancy ...
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