5th July 2013
‘Lorne – Market Round up’.
The big news of the week was the Reserve Bank of Australia keeping the cash rate on hold as we break into the new financial year. The cash rate remained at 2.75 precent, a 53 year low after the last RBA cut in May.
“At the latest RBA board meeting the board judged that the easier financial conditions now in place will contribute to a strengthening of growth over time, consistent with the inflation target”. Reserve Bank Governor Glenn Stevens said in a short statement.
“It decided that the stance of monetary policy remained appropriate for the time being. The board also judged that the inflation outlook, as currently assessed, may provide some scope for further easing, should that be required to support demand”.
Interesting that analysts have said that the RBA could ease rates again by the end of the year.
‘Lorne – Weekly report’.
Winter school holidays in Lorne have delivered a good spattering of visitors to the town and also the first whale siting of the year. Real estate enquiry has started the New Year well with one deal contracted and two in the pipeline.
With the 2013 financial year now behind us it is a good time to reflect on the year that was. Our average and median houses price s suffered over the past 12 months but in line with most leisure markets around the country. The strength of the Lorne market is still very evident with an average house price just over a million dollars – In the coming week I will provide a detailed report.
The Lorne Dolphins travel to Apollo Bay this week in what will be a top of the table clash and with the winner being touted as the favourite for the 2013 premiership. We wish all Lorne netballers and footballers well for the weekend.
12.00 – 12.30 50B Smith Street Lorne
‘Lorne – Great Local Slang’.
Sharp as a beach ball – “Not very bright/quick”
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