The Reserve Bank of Australia (RBA) has raised its cash rate by 25 basis points to 4.35%, marking its 13th rate rise since May 2022.
This move, the first in five months, is aimed at addressing inflation concerns. Governor Michele Bullock stated that inflation in Australia remains too high and persistent, prompting the rate hike. The RBA remains prepared to raise rates further if necessary.
Treasurer Jim Chalmers expressed concern, noting that the rate increase will impact those already facing challenges. The quarter-point hike is expected to increase monthly repayments for a standard $600,000 mortgage by approximately $100, contributing to a total increase of $1450 since the rate-increase cycle began.
For more information: https://www.theguardian.com/australia-news/2023/nov/07/rba-interest-rates-rise-hike-november-official-cash-rate-announcement-reserve-bank-australia
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From 1 October 2025, all first home buyers will be able to purchase with just a 5% deposit under the expanded First Home Buyer Guarantee. There will be no income limits, no caps on places, and higher property price caps.
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With interest rates rising and the media full of mixed messages, a lot of people are asking if property investment is still a smart move. The simple answer is yes. Property can still build wealth over time, but it has to be approached with the right strategy.
Mark recently helped a Keperra couple tap into the equity in their home to fund their first investment property and with a pre-approval in place, they’re now entering the market with confidence. If you're considering investing in Keperra, here’s why the suburb is quickly becoming a North Brisbane hotspot for smart investors.
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