08 MAY EDITION
IF I AM CONSIDERING SELLING , WHY GO TO MARKET NOW ?
SUMMARY
• Australian property market tips $ 8.1 trillion
• RBA maintains its supportive monetary policy position
The total value of Australia ’ s residential real estate has soared past the $ 8 trillion mark for the first time ever , powered upwards by rebounding prices but accompanied by an increasing likelihood regulatory curbs may be coming .
CoreLogic estimates the total value of residential real estate is now sitting at $ 8.1 trillion – four times the size of gross domestic product and about $ 1 trillion more than the combined value of the ASX , superannuation and commercial real estate .
Housing markets strengthened further in April , with prices rising in all major markets .
Housing credit growth has picked up , with strong demand from owneroccupiers , especially first-home buyers . Given the environment of rising housing prices and low interest rates , the Reserve Bank of Australia ( RBA ) is monitoring trends in housing borrowing carefully to ensure that lending standards are maintained . The board is committed to maintaining highly supportive monetary conditions to support a return to full employment in Australia and inflation consistent with the target . It will not increase the cash rate until actual inflation is sustainably within the two to three per cent target range . For this to occur , the labour market will need to be tight enough to generate wages growth that is materially higher than it is currently . This is unlikely to be until 2024 at the earliest .
So for the first time in a century , our population has declined , thanks to a low birth rate and the complete absence of immigration . We ’ ve just
“ What we do know is that market fundamentals right now are helping our clients who are looking to sell .”