With spring well and truly sprung, we’re all starting to emerge from our cosy homes and enjoy the great Australian alfresco lifestyle again.
For a little light reading in the sunshine, I cover the latest news from the Reserve Bank, take a closer look at whether we’re really heading for a credit crunch and unveil next year’s official interior design trends.
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RBA HOLDS RATES YET AGAIN
At its September 4 meeting, the Reserve Bank decided to leave the cash rate unchanged yet again at 1.50 per cent, citing that the low rate was continuing to support our economy.
The Bank forecasted economic growth to average a bit above 3 per cent in 2018 and 2019 and was currently growing at an above-trend rate due to positive business conditions and investment, high levels of public infrastructure and steady growth in resource exports.
Household consumption, high debt levels and drought in the farm sector were noted as continuing sources of uncertainty. The next RBA meeting will be held Tuesday 2 October, when it is expected there will be no further change to cash rates.
National Property Prices Fall 2%
The RBA continues to play down fears about a credit crunch for property investors and homebuyers, with governor Philip Lowe saying mortgage credit, "remains readily available" and the next move (whenever that might be) in official interest rates is likely to be upwards.
New figures this month show Sydney property prices have fallen 5.6% over the past year, while the national market fell 2%. It marks the end of a five-year boom, which saw prices in Australia's biggest city rise 70% and household debt surge above 120% of GDP — one of the highest levels in the world.
2019 KEY INTERIOR TRENDS ANNOUNCED 
If the warmer weather has turned your attention to a bit of revamping and renovating, you’ll be pleased to hear interior design pundits have just announced the must-have interior looks for next year. According to those in the know, we can expect a shift in the hippest, up-to-the-minute interiors away from industrial, stark scandi style, pastels and marble in favour of a new approach to colour and texture.
But don’t panic if you’ve already decked out your home in millennial pink and marble – these trends will still get a look in, but the sorbet shades are giving way to dirty, chalkier hues and marble gets a bit more adventurous.
• Bye-bye Millenial Pink – we loved you well. Pastels and 2018’s earthy colours are still in vogue but are getting a luxe, grown-up remix by matching them back with warmer gold tones and muted apricots against tans. Added to misty greys, sage greens and pale blues with pops of black and brighter colours like mustard yellow, the new look is all about subtlety. Pure white Scandi looks are also finally waning, in favour of warmer looks.
• Visual and sensory textures combine. There's a big push into textural interiors in 2019 with obscure terrazzo, and abstract marble patterns bring a bolder, braver look into play. Matte metal, timber and glass finishes usher in the sensory effect, and grasscloth or woven wallpapers are tipped to make a long overdue comeback. Mixing and matching vintage, handmade and new, with a focus on extraordinary pieces will also be the name of the game.
• Dialled back furniture takes centre stage. When it comes to furniture in 2019, less is more. We’ll see a lot more curved, angular furniture and design-led pieces that don’t forego comfort – nothing fussy or over-detailed will work with the new colourful interiors. You heard it here first! So which trends do you think you’ll try?
Well, that’s it for another month, I hope you’ve enjoyed the read! And, if you want a quick chat with your home loan expert, I’m always here to help.
