Aris Dendrinos Market Update 08/09/2016
Spring is well and truly here and the much-anticipated flood of new listings onto the market hasn't followed...................yet!
We have been very busy this week trying to solve the problem and for those buyers looking in particular for an apartment (yes that even includes Art-Deco) we will have some exciting news for you very soon so watch this space.
Unsurprisingly, the Reserve Bank of Australia chose to leave rates on hold this month. Despite this, many pundits are locking in one more rate cut before the end of the year with the good old Melbourne Cup day Tuesday in November as the traditional favourite for when it will happen next.
This was the last meeting the Reserve had under outgoing Governor Glenn Stevens who officially steps down now after ten years in the post. Personally, I think he has done a good job, pulling the right levers when necessary but more importantly learning when it was the appropriate time to do nothing. In his 86 meetings as Governor he increased rates 6 times, reduced them on 12 occasions and left them exactly where they were on 68 occasions.
In sport, I've always found the best referees are the ones you can barely remember at the end of a match - the truest sign that they have done a great job as it is about the game and not them. Glenn Stevens fit that bill perfectly and hopefully his replacement will continue the good work.
We have another exciting on-site Auction this Saturday (10/9/16) with the following property going under the hammer :
The property can be inspected fifteen minutes prior and you are all most welcome to attend. If you can't and are still keen to watch we will be live streaming it on our Facebook Page.
That's it from me. Have a great weekend and I'll see you next Thursday.