Nerida Conisbee,
Ray White Chief Economist
There were no surprises today that the Reserve Bank of Australia kept rates on hold. While concerns about a global banking crisis were a likely factor, it is good news that inflation is now pulling back quicker than expected. February inflation came in at 6.8 per cent. If this continues to come down over the coming months, it is likely that we are now at peak interest rates and the next change will be cut.
Housing remains the main driver of inflation, particularly construction costs. However, the rate of increase is slowing, primarily because the increase in the cost of building materials has eased. Rents, however, continue their rapid rise and are unlikely to ease anytime soon given a widespread shortage of homes. Other cost increases which have eased include food and automotive fuel.
Whitsunday Coast Airport has officially set a new annual passenger record, welcoming over 522,000 passengers over the past 12 months and surpassing its previous record of 507,000 set last year. This milestone cements Whitsunday Coast Airport’s status as one of Australia’s fastest-growing regional airports and highlights the strong appeal of … Read more
Via The Courier Mail From Hollywood celebrities to European holidaymakers, this North Queensland hot spot is proving irresistible to international visitors spending more than $243m this year. Visitors are splashing the cash in the Whitsundays, with the latest data showing international tourism is on the rise. The 178,000 international visitors … Read more