Happy Spring!
In my September newsletter, we’ll take a look at the new power in property price growth around the country. Learn how to make the most of warmer weather by sprucing up your garden for summer entertaining.
Call me now on: 0402 408944
Rates Hold for 22nd Consecutive Month
In early August, the Reserve Bank decided to keep the cash rates at 1.5 per cent. RBA Governor, Phillip Lowe, said that Australia's GDP growth has continued to grow as expected, business conditions remain favourable, and higher infrastructure investments are supporting the economy.
He added that things are still looking good for our labour market, leading to robust employment growth. In the housing market, the RBA determined that rent inflation had stayed low while housing credit growth had declined – primarily due to reduced demand from investors. The next RBA rate decision is set for 4 September, with pundits anticipating no rate rise.
The New Power Places in Property
A new report by hotspotting.com.au shows Australia’s once underachieving smaller capital cities are now driving property price growth. Adelaide is now the nation’s leading market with 61 suburbs showing rising sales activity, with recovering Perth boasting 45. Canberra is travelling well at 20 suburbs, while Melbourne trails at just 12 suburbs performing followed by Sydney with a dismal 5. Brisbane remains lukewarm, Hobart seems to have passed its growth peak and Darwin remains stuck in downturn. There’s also been massive, sustained growth in regional areas across the country, with most outperforming their state’s capital.
Bloomin’ Marvellous! Give Your Garden A Spring Makeover
With spring decidedly in the air and summer entertaining just around the corner, the time is ripe to give your garden some much-needed love. Here are some foolproof suggestions to get your garden maintenance routine in order:
1. Improve your soil. Quality composts and liquid fertilisers are your best friends early in the season. Apply it all over your garden and work it into your soil to introduce micro-organisms that will improve your soil structure and boost your water and nutrient-holding capacity.
2. Get on top of those weeds early. Make time in your gardening routine to weed regularly. Stay away from chemicals deadly to micro-organisms. A simple eco-solution is to apply 5-6 sheets of newspaper to smother and deprive weeds of the sunlight they need to go wild. You can also try undiluted vinegar or sulphate of ammonia.
3. Don’t forget the mulch. Once you’ve papered your weeds, weigh down the area with a 75mm thick layer of mulch. This will set you in good stead for summer as it will keep soil temperatures down. Don’t pack mulch around the stems of the plants you want to keep. Instead, leave some space around them so the plants can breathe and water can penetrate to the roots. Try a coarse mulch – fine ones become too compacted.
4. Fill in the gaps. As a final step, take a panoramic view of your garden to see if you need to fill in any spaces with new plants or move any that aren’t performing well. Adding multiples of the same plant will create a sense of serenity and drama – lots of single plant types don't do as well and tend to look more haphazard. I hope you’ve enjoyed reading and that you’re able to get out and enjoy the warmer weather.
Remember, if you have any questions about your home loan, I’m just a call or email away.
