Apartment approvals are falling sharply: Pete Wargent

Apartment approvals are falling sharply: Pete Wargent
Apartment approvals are falling sharply: Pete Wargent
The Reserve Bank of Australia (RBA) released its Statement on Monetary Policy for February 2017.
 
Lots to digest as usual!
 
Firstly, and probably the most interesting part, I thought, was the section concerning inflation forecasts. 

The RBA sees inflation returning to the 2 to 3 percent target range, and as such interest rates are now likely to be on hold unless the labour market deteriorates from here. 

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Apartment approvals are falling sharply: Pete Wargent 
 
Secondly, it also looks as though forecasts for growth in the economy are quite upbeat, tracking at around 3 per cent in 2017/18 and 3 per cent in 2018/19, before potentially rising further. 
 

 Apartment approvals are falling sharply: Pete Wargent

 
Finally, housing.

There was lots to look at in terms of housing markets, although nothing particularly ground-breaking. 
 
Rental price growth is soft, apartment approvals are falling sharply, and turnover in the housing market is well below the average since 2008, reflecting low levels of stock on the market.
 
 
Apartment approvals are falling sharply: Pete Wargent
 
 
On another related point, it's interesting to see that after copping a huge amount of heat for possibly 'overstating' dwelling price growth, CoreLogic's index has now seen other data providers catch up towards a similar rate of growth.
 
 
PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and blogger

Pete Wargent

Pete Wargent

Pete Wargent is the co-founder of BuyersBuyers.com.au, offering affordable homebuying assistance to all Australians, and a best-selling author and blogger.

Tags: 
Apartment Market Residential Price

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