A second consecutive drop in annual inflation has convinced the Reserve Bank of Australia to keep the cash rate on hold – only the third pause in the cycle since rates began rising in May 2022.
Fears of a Melbourne Cup day rate rise have come to pass, and new data shows the minimum household income required to afford the average Australian house price is now $182,000.
Housing is a significant factor in the ongoing cost-of-living crisis, so at a first glance the tax cuts seem like an injection of cash that could help boost the property market.