Nerida Conisbee,
Ray White Group
Chief Economist
Inflation continued its painfully slow downward trajectory in October, resulting in rates remaining on hold in December. The most significant increase in the inflation basket continues to be housing, in particular rents. While construction increases have slowed considerably, the lack of rental accommodation is driving up inflation.
Housing costs are now up 6.1 per cent over the year. Food is another major driver of inflation, up 5.3 per cent. Automotive fuel is also causing problems, up 8.6 per cent.
Will we see another rate rise? Perhaps. Inflation is coming down but not quickly. Market expectations of where they will peak continue to fluctuate. While the slow decline is not encouraging, there are some positive signs from overseas. In the US, inflation is now down to 3.2 per cent, while Canada sits at 3.1 per cent. Elsewhere, inflation is still too high but the gap between where Central Banks want it and where it sits is narrowing.
Nerida Conisbee Ray White Group Chief Economist Nationally, auction numbers are up, the number of people actively bidding is falling and this is causing a fall in clearance rates. All of this adds up to a slowing market, and price moderation or even falls. However, this does ignore that there continues … Read more
Whitsunday Regional Council Mayor Ry Collins today officially opened the new solar array at the Collinsville Water Treatment Plant (WTP). Mayor Collins said the Collinsville Efficient Resilient Solar Program, which was jointly funded by Council and the Australian Government, was a valuable project for the Collinsville and Scottville communities. “Close … Read more