Interest rates have been slashed to a record low, with the Reserve Bank dropping the cash rate to 0.1 per cent at its November meeting.
But what impact will this cut really have on the wider property market? And, what does it mean for those with home loans or for those first-home buyers looking to get into the market? Jo Masters, chief economist for EY Oceania, says the impact of the latest rate cut will be outweighed by other more influential factors.
“It won’t have as much impact as early cuts have, but I think it will still have an impact, particularly given its come alongside the easing of responsible lending requirements from banks,” she told Domain’s Property Unpacked podcast this week.
In this episode, we also draw our attention west to the story unfolding around Perth’s rental market. The city has seen its sharpest rise in rental prices after eight years of stagnation. Property analyst and commentator Gavin Hegney joins us to share his insights.
To wrap things up, Daniel and Jade from The Block chat about their time on the show ahead of a fast-approaching auction day.
Hear the full episode of Property Unpacked on Apple Podcasts, Spotify and everywhere else you find your podcasts.