Welcome to The Buzz October Issue 2019
The race to zero
The Reserve Bank seems on a trajectory towards a 0% cash interest rate. What does this mean for us?
Well, apparently, it doesn’t mean we will see mortgage rates drop to 0%. The major banks have not passed on the full rate cut from two recent rate cuts. And finance industry spokespeople are advising that we are almost at a level below which institutions cannot (or will not) go.
The rockets are taking off again
As buyers flood back prices are beginning to skyrocket in Sydney and in Melbourne. The Reserve Bank is warning of a housing bubble. In addition, prudential regulators are talking about retightening the credit rules. If so, supply of money to the housing market will be restricted again.
Catching a wave
Amid much initial excitement by the media, a proposed surf ranch to be built inland of Coolum Beach has been announced. However, hidden in the fine print is a revised Coolum West proposal. This was a major urban subdivision application rejected by Sunshine Coast Council.
Full details are yet to be revealed but the Kelly Slater wave pool project is likely to include:
- residential canals
- up to 1500 homes
- a school
- retail precincts
- a hotel
Any go ahead will require the Queensland State Government to declare this a Priority Development Area. Watch this space!
Follow the links (below the photo) for your copy of:
- A September Quarter Sales Report for your suburb
- An REIQ Market Monitor Sunshine Coast extract
- A selection of must-read real estate news articles & stories