Hello and welcome to another edition of our Client for Life newsletter.
What a week! Record real estate movement last Saturday, banks moving to support the interest rate drop and the Budget!
Surprisingly, the Australian dollar (AUD) did not reflect much change post budget, with both parties doing their best to present their cases. Consequently, after the unveiling of the budget, there has been a link between the decline of the AUD and expectations of further interest rate cuts to assist the economy.
For one, I was delighted to see the Disability Care program receive such a helping hand. Many of our clients either look after their disabled loved ones or have children with special needs. Enabling assistance to care providers and those who have disabilities is something I for one have always supported, and encourage this coming into fruition with the new Budget.
On the real estate front, for the first time in a long time, I am being met with resistance to negotiate on price. So many of our developers are now maintaining a position of resilience and resolve about their product, the location and the value in investment. A real turn-around. However, this is a positive sign, reflecting the strong market and developer confidence in their product.
I have always found it interesting that Australia has two economies. The real economy, and consumer sentiment. If I were a betting person, I would say that sentiment is hardening and the resolve to clear these dull times now has a sunny horizon.