Tuesday, September 3, 2019

Reserve Bank holds interest rates at 1%

The RBA held the interest rate for the second time after two consecutive cuts in June and July. Here's their explanation

At its meeting today, the Board decided to leave the cash rate unchanged at 1.00 per cent.
The outlook for the global economy remains reasonable, although the risks are tilted to the downside. The trade and technology disputes are affecting international trade flows and investment as businesses scale back spending plans due to the increased uncertainty. At the same time, in most advanced economies, unemployment rates are low and wages growth has picked up, although inflation remains low. In China, the authorities have taken further steps to support the economy, while continuing to address risks in the financial system.
Global financial conditions remain accommodative. The persistent downside risks to the global economy combined with subdued inflation have led a number of central banks to reduce interest rates this year and further monetary easing is widely expected. Long-term government bond yields have declined and are at record lows in many countries, including Australia. Borrowing rates for both businesses and households are also at historically low levels. The Australian dollar is at its lowest level of recent times.
Economic growth in Australia over the first half of this year has been lower than earlier expected, with household consumption weighed down by a protracted period of low income growth and declining housing prices and turnover. Looking forward, growth in Australia is expected to strengthen gradually to be around trend over the next couple of years. The outlook is being supported by the low level of interest rates, recent tax cuts, ongoing spending on infrastructure, signs of stabilisation in some established housing markets and a brighter outlook for the resources sector. The main domestic uncertainty continues to be the outlook for consumption, although a pick-up in growth in household disposable income and a stabilisation of the housing market are expected to support spending.
Employment has grown strongly over recent years and labour force participation is at a record high. The unemployment rate has, however, remained steady at 5.2 per cent over recent months. Wages growth remains subdued and there is little upward pressure at present, with strong labour demand being met by more supply. Caps on wages growth are also affecting public-sector pay outcomes across the country. A further gradual lift in wages growth would be a welcome development. Taken together, recent labour market outcomes suggest that the Australian economy can sustain lower rates of unemployment and underemployment.
Inflation pressures remain subdued and this is likely to be the case for some time yet. In both headline and underlying terms, inflation is expected to be a little under 2 per cent over 2020 and a little above 2 per cent over 2021.
There are further signs of a turnaround in established housing markets, especially in Sydney and Melbourne. In contrast, new dwelling activity has weakened. Growth in housing credit remains low. Demand for credit by investors continues to be subdued and credit conditions, especially for small and medium-sized businesses, remain tight. Mortgage rates are at record lows and there is strong competition for borrowers of high credit quality.
It is reasonable to expect that an extended period of low interest rates will be required in Australia to make progress in reducing unemployment and achieve more assured progress towards the inflation target. The Board will continue to monitor developments, including in the labour market, and ease monetary policy further if needed to support sustainable growth in the economy and the achievement of the inflation target over time.

Thursday, August 1, 2019

Has your suburb increased or decreased in the last 12 months?

Perth house prices have dropped on average 9% over the past year and 20% over the last five years which got us wondering how different suburbs have fared. REIWA has a handy website which shows how suburbs have performed over the last 12 months. While the number of sales in each suburb probably vary massively over 12 months, here's what they report for the last 12 months for suburbs in Perth. We've sorted it by growth percentage. How has your suburb gone in the past 12 months?


SUBURB
MEDIAN HOUSE PRICE GROWTH PERCENTAGE
Darling Downs
$912,000
35.60%
East Perth
$1,292,500
28.60%
Glendalough
$590,000
19.50%
Middle Swan
$370,000
19.40%
Jarrahdale
$470,000
19.30%
Menora
$1,250,000
19.00%
Kwinana Town Centre
$350,000
17.60%
Shelley
$960,000
15.00%
Mount Nasura
$455,000
14.00%
Glen Forrest
$563,500
12.70%
Mount Pleasant
$1,250,000
12.10%
Trigg
$1,337,500
11.50%
Wooroloo
$425,000
11.30%
Hillarys
$837,500
10.20%
Watermans Bay
$995,000
9.30%
North Lake
$615,000
8.80%
Cottesloe
$2,250,000
8.40%
Booragoon
$900,000
7.30%
Woodbridge
$620,000
7.20%
Golden Bay
$395,000
7.10%
West Perth
$777,500
6.90%
West Swan
$700,000
6.90%
Chidlow
$447,500
6.50%
East Victoria Park
$645,000
6.40%
Gooseberry Hill
$683,000
6.30%
Kensington
$888,000
6.30%
Beaconsfield
$742,500
6.10%
Waterford
$887,750
5.70%
Edgewater
$527,000
5.40%
South Guildford
$555,000
5.20%
Lynwood
$410,000
5.10%
Bull Creek
$735,000
5.00%
Hazelmere
$470,000
4.80%
Inglewood
$840,000
4.70%
Roleystone
$534,000
4.70%
Wattleup
$560,000
4.70%
Bickley
$795,000
4.60%
Doubleview
$740,000
4.60%
Two Rocks
$360,000
4.60%
Highgate
$849,500
4.50%
Quinns Rocks
$470,000
4.40%
Riverton
$643,250
4.20%
Mullaloo
$657,500
3.50%
Caversham
$444,000
3.30%
Claremont
$1,528,500
3.10%
Osborne Park
$500,000
3.10%
Lathlain
$720,000
2.90%
Swan View
$360,000
2.90%
Wembley Downs
$1,080,000
2.90%
Coolbinia
$1,130,000
2.70%
Mundaring
$572,500
2.60%
Salter Point
$1,180,000
2.60%
Dayton
$430,000
2.40%
Woodlands
$920,000
2.20%
Bedford
$630,000
2.00%
East Cannington
$457,500
1.90%
Munster
$525,000
1.90%
Sorrento
$920,000
1.90%
North Perth
$850,000
1.80%
Hamersley
$533,000
1.50%
Kiara
$408,500
1.50%
Padbury
$522,500
1.50%
Shoalwater
$429,000
1.50%
Carine
$801,250
1.40%
Greenmount
$455,000
1.40%
Ascot
$710,000
1.10%
Ridgewood
$374,000
1.10%
South Fremantle
$1,045,000
1.00%
Willagee
$525,000
1.00%
Balcatta
$495,000
0.80%
Subiaco
$1,315,000
0.80%
Bateman
$725,000
0.70%
Melville
$740,000
0.70%
Mount Lawley
$945,000
0.70%
Singleton
$412,500
0.60%
Eden Hill
$394,500
0.50%
Gwelup
$838,500
0.40%
Como
$901,000
0.10%
Hammond Park
$519,500
0.10%
Anketell
$0
0.00%
Bailup
$0
0.00%
Banjup
$0
0.00%
Baskerville
$0
0.00%
Beechina
$0
0.00%
Belhus
$0
0.00%
Bennett Springs
$435,000
0.00%
Brigadoon
$0
0.00%
Canning Mills
$0
0.00%
Carabooda
$0
0.00%
Cardup
$615,000
0.00%
Challenger
$0
0.00%
Clarence
$0
0.00%
East Rockingham
$0
0.00%
Gidgegannup
$0
0.00%
Gnangara
$0
0.00%
Hacketts Gully
$0
0.00%
Henderson
$0
0.00%
Herdsman
$0
0.00%
Hollywood
$0
0.00%
Hope Valley
$0
0.00%
Hopeland
$0
0.00%
Hovea
$0
0.00%
Jandabup
$0
0.00%
Karrakup
$0
0.00%
Keysbrook
$0
0.00%
Kwinana
$0
0.00%
Kwinana Beach
$0
0.00%
Lexia
$0
0.00%
Malaga
$0
0.00%
Mandogalup
$0
0.00%
Mariginiup
$0
0.00%
Millendon
$715,000
0.00%
Naval Base
$0
0.00%
Neerabup
$0
0.00%
Nowergup
$0
0.00%
Oakford
$0
0.00%
Oldbury
$0
0.00%
Paulls Valley
$0
0.00%
Peel Estate
$0
0.00%
Perth Airport
$0
0.00%
Pickering Brook
$0
0.00%
Piesse Brook
$0
0.00%
Pinjar
$0
0.00%
Postans
$0
0.00%
Red Hill
$0
0.00%
Stoneville
$470,000
0.00%
Tamala Park
$0
0.00%
The Lakes
$0
0.00%
The Spectacles
$0
0.00%
Wangara
$0
0.00%
Welshpool
$0
0.00%
Whiteman
$0
0.00%
Wilbinga
$0
0.00%
Wungong
$567,100
0.00%
Harrisdale
$499,000
-0.20%
Tapping
$475,000
-0.20%
Huntingdale
$379,000
-0.30%
Myaree
$680,000
-0.30%
Bedfordale
$707,500
-0.40%
Brentwood
$617,500
-0.40%
Southern River
$537,500
-0.50%
Alkimos
$397,500
-0.60%
Pearsall
$447,500
-0.60%
Rivervale
$500,500
-0.60%
Success
$510,000
-0.60%
Hilbert
$377,500
-0.70%
Ocean Reef
$716,000
-0.70%
Churchlands
$1,339,000
-0.80%
Karrinyup
$793,750
-0.80%
Manning
$770,000
-0.80%
Palmyra
$625,000
-0.90%
Hocking
$485,000
-1.00%
Joondanna
$643,500
-1.00%
Mindarie
$647,500
-1.10%
The Vines
$643,000
-1.10%
Swanbourne
$1,430,000
-1.30%
City Beach
$1,775,000
-1.40%
Darlington
$572,000
-1.40%
Floreat
$1,331,000
-1.40%
Peppermint Grove
$3,650,000
-1.40%
St James
$517,500
-1.40%
Waikiki
$345,000
-1.40%
Bullsbrook
$320,000
-1.50%
East Fremantle
$1,132,500
-1.50%
Greenwood
$492,000
-1.60%
Hamilton Hill
$467,500
-1.60%
Maylands
$590,000
-1.60%
Merriwa
$315,000
-1.60%
Mount Helena
$460,000
-1.60%
Warnbro
$310,000
-1.60%
Champion Lakes
$432,500
-1.70%
Woodvale
$595,000
-1.70%
Serpentine
$560,000
-1.80%
Warwick
$540,000
-1.80%
Aveley
$437,500
-2.10%
Joondalup
$494,500
-2.10%
Bayswater
$567,500
-2.20%
Bushmead
$655,000
-2.20%
Martin
$440,000
-2.20%
Willetton
$685,000
-2.30%
Midvale
$305,000
-2.40%
Wanneroo
$400,000
-2.40%
Baldivis
$390,000
-2.50%
Cloverdale
$414,000
-2.60%
Connolly
$662,500
-2.60%
Heathridge
$430,000
-2.80%
Hilton
$530,000
-2.80%
Kardinya
$621,500
-2.80%
Bibra Lake
$520,750
-2.90%
Landsdale
$534,000
-2.90%
Lesmurdie
$577,500
-2.90%
Mahogany Creek
$466,000
-2.90%
Kinross
$465,500
-3.00%
Attadale
$1,055,000
-3.20%
Nedlands
$1,607,500
-3.20%
Banksia Grove
$367,500
-3.30%
Bassendean
$481,250
-3.30%
Wattle Grove
$508,500
-3.30%
Secret Harbour
$425,000
-3.40%
Karawara
$588,888
-3.50%
Leeming
$680,000
-3.50%
Ashby
$445,000
-3.60%
Craigie
$424,000
-3.60%
Fremantle
$781,000
-3.60%
Innaloo
$540,000
-3.60%
Marangaroo
$385,000
-3.70%
Parkwood
$430,000
-3.70%
Victoria Park
$635,000
-3.70%
Beeliar
$480,000
-4.00%
Ferndale
$415,000
-4.00%
Madeley
$565,000
-4.00%
High Wycombe
$407,500
-4.10%
Karragullen
$355,000
-4.10%
Rossmoyne
$1,055,000
-4.10%
Tuart Hill
$522,500
-4.10%
Ballajura
$402,500
-4.20%
Mount Hawthorn
$835,000
-4.20%
Port Kennedy
$345,000
-4.20%
Safety Bay
$378,500
-4.20%
Thornlie
$369,000
-4.20%
Sinagra
$440,000
-4.30%
Spearwood
$450,000
-4.30%
West Leederville
$1,194,000
-4.30%
Butler
$369,500
-4.40%
Jandakot
$612,000
-4.40%
Carramar
$487,000
-4.50%
Noranda
$530,000
-4.50%
Stirling
$720,000
-4.60%
Wandi
$472,000
-4.60%
Alexander Heights
$410,000
-4.70%
Applecross
$1,525,000
-4.70%
Mount Claremont
$1,210,000
-4.70%
Scarborough
$715,000
-4.70%
Bicton
$1,000,000
-4.80%
Coolbellup
$420,000
-4.80%
Maddington
$295,000
-4.80%
Wellard
$400,000
-4.80%
Byford
$380,000
-5.00%
Canning Vale
$537,500
-5.00%
Kingsley
$535,000
-5.10%
Nollamara
$370,000
-5.10%
White Gum Valley
$697,750
-5.10%
Darch
$525,000
-5.20%
Duncraig
$660,500
-5.30%
Embleton
$450,000
-5.30%
Kenwick
$304,000
-5.30%
Beldon
$435,000
-5.40%
Bertram
$350,000
-5.40%
Wembley
$967,000
-5.50%
Alfred Cove
$740,000
-5.70%
Ardross
$990,000
-5.70%
Clarkson
$355,000
-5.70%
Leederville
$882,000
-5.70%
Marmion
$855,000
-5.70%
Piara Waters
$481,000
-5.70%
Henley Brook
$466,500
-5.80%
Balga
$301,000
-5.90%
Daglish
$990,000
-5.90%
South Perth
$1,200,000
-5.90%
Morley
$450,000
-6.00%
Atwell
$489,000
-6.10%
Mirrabooka
$325,000
-6.10%
Burns Beach
$775,000
-6.30%
Upper Swan
$450,000
-6.30%
Wilson
$495,000
-6.30%
Carlisle
$472,500
-6.40%
South Lake
$392,000
-6.40%
Beckenham
$390,500
-6.50%
Bentley
$430,000
-6.50%
Rockingham
$360,000
-6.50%
Beechboro
$355,000
-6.60%
Jindalee
$570,000
-6.60%
Aubin Grove
$522,500
-6.70%
Coogee
$770,000
-6.70%
Girrawheen
$305,000
-6.70%
Mosman Park
$1,300,000
-6.80%
Queens Park
$405,000
-6.80%
Walliston
$470,000
-6.90%
Yanchep
$360,000
-7.00%
Kewdale
$455,000
-7.10%
Perth
$775,500
-7.10%
Yangebup
$420,000
-7.20%
Dianella
$555,000
-7.50%
Iluka
$800,000
-7.80%
Lockridge
$280,000
-7.80%
North Coogee
$1,050,000
-7.90%
O'Connor
$585,000
-8.00%
Parmelia
$241,500
-8.00%
Kalamunda
$565,000
-8.10%
Armadale
$225,000
-8.20%
Ellenbrook
$349,000
-8.20%
Winthrop
$820,000
-8.20%
Boya
$485,000
-8.50%
Langford
$325,000
-8.50%
Gosnells
$287,500
-8.70%
Karnup
$345,000
-9.20%
Calista
$245,000
-9.30%
Mundijong
$375,000
-9.60%
Belmont
$416,250
-10.00%
Treeby
$494,500
-10.10%
Midland
$299,000
-10.20%
Forrestfield
$380,000
-10.60%
Samson
$530,000
-10.70%
Shenton Park
$1,100,000
-11.60%
Dalkeith
$2,245,000
-11.80%
Brookdale
$237,000
-11.90%
Cannington
$356,000
-11.90%
Eglinton
$402,000
-11.90%
Orelia
$260,000
-11.90%
Currambine
$475,000
-12.00%
Seville Grove
$299,000
-12.10%
Cooloongup
$250,000
-12.30%
Maida Vale
$450,500
-12.30%
Camillo
$225,000
-12.60%
Carmel
$500,000
-12.70%
Medina
$210,000
-12.70%
Guildford
$580,000
-12.80%
Redcliffe
$390,000
-12.80%
Jane Brook
$455,000
-12.90%
Viveash
$400,000
-13.20%
Westminster
$330,000
-13.20%
Murdoch
$631,000
-13.40%
Whitby
$400,000
-13.40%
Brabham
$372,000
-13.50%
Hillman
$232,500
-13.70%
Yokine
$585,000
-13.70%
Ashfield
$403,000
-13.80%
Koondoola
$275,500
-13.90%
Leda
$254,000
-14.30%
Parkerville
$460,000
-14.60%
Stratton
$280,000
-14.90%
Casuarina
$714,750
-16.10%
Helena Valley
$505,000
-16.40%
Kelmscott
$280,000
-16.50%
Mardella
$625,000
-16.70%
Kallaroo
$667,000
-16.90%
Mount Richon
$394,750
-17.70%
Forrestdale
$337,500
-18.70%
Sawyers Valley
$422,500
-18.80%
North Beach
$880,000
-18.90%
Koongamia
$246,500
-19.20%
Burswood
$820,000
-19.60%
Bellevue
$280,000
-19.80%
Jolimont
$920,000
-23.30%
Cockburn Central
$1,062,000
-24.10%
North Fremantle
$923,000
-25.00%
Northbridge
$845,000
-26.50%
Orange Grove
$620,000
-28.30%
Herne Hill
$346,000
-31.80%
Haynes
$350,000
-32.70%
Crawley
$221,500
-72.90%

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