There has been speculation for some time about interest rate rises, with finance experts divided over exactly when and how rates will begin to increase. Some economists now expect the RBA to deliver a 25 basis point interest rate rise in the December quarter of this year, whilst others don't believe the first rate hike will happen until mid-2010, when economic data from after the government's stimulus packages becomes available.
In other news, September 30 will mark the end of the full boost to the First Home Owners Grant (FHOG). The $7,000 dollar boost which was made available to first home buyers purchasing existing dwellings will be halved to $3,500, and the $14,000 boost for new homes will be decreased to $7,000; so if you are looking at buying property within the next month now is the time to secure a pre-approval.
As always I hope you enjoy this edition of The Insider. Please feel free to give me a call or send me an email at any time.
