Investors across Australia have been keeping a close watch on the Reserve Bank of Australia as the cash rate continues to decline. Our Managing Director, Philip Ryan provides an update for the new financial year on the falling cash rate and the impacts on investors and the property market.
Philip recalls some of the changes that looked like being brought into affect at the time of the 2019 Federal Election. These included changes to negative gearing, capital gains tax, and in particular affecting retirees, changes in franking credits legislation. Markets had factored in some of these changes over the course of the last year and this had adversely affected areas of finance, development, real estate prices and sales, and as a result the economy was grinding to a halt.
Now that these threats have been taken away, there has been a catch up in real estate markets. Additionally, the Reserve Bank of Australia has dropped the official cash rate twice. In this video, Philip discusses what we can expect from the year ahead.
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