APOLLO BAY- HERE AND THERE

The Skenes Creek Bridge will soon be receiving some much needed upgrades as part of the $255 million Great Ocean Road and inland routes program. The Victorian Government has allocated $8.5 million to strengthen the bridge over Skenes Creek, on the Great Ocean Road. These works will also include, constructing a pedestrian bridge, separate from the vehicle bridge and installing new safety barriers and refreshed line marking among other improvements.

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APOLLO BAY- MARKET ROUND-UP

Recent CPI results for the December quarter showed inflation has fallen once again, from 5.4% in September to 4.1%. This marks the fourth consecutive quarter where inflation has declined on an annual basis, and the December result is below the 4.5% forecast made by the RBA last November. Inflation is still well above the RBA target range of 2-3%, but it is moving in the right direction, and it is falling faster than anticipated.

The decision to keep the cash rate on hold at 4.35% was almost universally expected, given the low inflation figures released for the December quarter, which came in roughly 45 basis points under the RBA’s forecast. Other factors supporting a hold decision include weak retail trade outcomes, a gradual loosening in labour market conditions and an overall softening in economic activity.
Lower rates, together with easing cost of living pressures and tax cuts will support a boost to borrowing capacity. The combination of lower rates and lower inflation should also help to lift consumer sentiment

The new year brings a new schedule for the RBA, with the cadence of meetings winding back from 11 a year to eight, while the timeframe for each meeting has expanded from roughly half a day on the first Tuesday of each month to two half days.  We will also see the Reserve Bank Governor fronting a press conference an hour after the board meeting statement is released at 2:30pm along with the quarterly Statement on Monetary Policy which would previously have been scheduled for a Friday release.

It’s likely the lower than forecast inflation outcome for the December quarter, alongside a growing expectation of rate cuts later this year will help to lift consumer attitudes. Logically, an increase in borrowing capacity and sentiment are likely to provide some stimulus to home purchasing activity.

Would an appraisal with the most relevant up-to-date property data assist you with future planning? Give us a call.

Kind regards,

Darren Brimacombe
For and on behalf of the entire Great Ocean Road Real Estate team

APOLLO BAY- QUOTE OF THE WEEK

“Your present circumstances don’t determine where you can go; they merely determine where you start.” 

APOLLO BAY- A LITTLE SECRET

Apollo Bay Farmer’s & Makers Market

CURRENT LISTINGS:

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