Interest rate rise Melbourne cup edition

**Insert race commentators voice here, and they’re off, RBA rates, increases it’s lead by another .25 basis points, leading all comers by 7 increases straight.

Rising faster than the Melbourne Cup winner Gold Trip, the cash rate is now sitting at 2.85%, the highest since 2013, and the Inflation rate is now at 7.3% the highest in more than 30 years.

Interestingly the 2nd highest inflation figures relate to the cost of newly built homes seeing a mammoth rise of 20.7% over 12 months.

Bringing back one of the hottest arguments in the sector “why buy, when you can build?” or visa versa.

And right now that cycle continues. Over the last 12 months we’ve seen people yoyo back and forward between, desperate for titled land, not wanting to renovate, wanting a custom floor plan that better suits the dawn of the work from home era, land prices being smashed to now not seeing the value of building over buying existing.

Are things going back to the “good old days” of location, location, location? What do you think ?

If you’re wondering what this means for your property value? Or if you’re looking to buy, sell, lease or refer, we’d love to speak to you.