Pete Wargent blogspot

PERSONAL/BUSINESS COACH | PROPERTY BUYER | ANALYST

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Tuesday 6 February 2024

Is the property market ready to ride the rates rollercoaster?

ausbiz TV

I joined Jules Saly at ausbiz TV to discuss the buoyant start to the housing market in 2024, and the Reserve Bank keeping interest rates on hold today here (or click on the image below):


Holding the line

As noted the Reserve Bank kept interest rates on hold today, as expected.

Of course, there's been some excellent progress on inflation, and inflation forecasts were revised down accordingly.


The Reserve Bank did note in its communications today that domestic costs are not coming down quite so quickly (although the growth in imported costs is clearly plunging). 


In short, markets are expecting rates to be on hold for quite some time yet, but perhaps with a cut or two coming later in the year. 


CBA's Gareth Aird expects to see 3 interest rate cuts this year, and a further 3 rate cuts in 2025 taking the cash rate target down to 2.85 per cent. 

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