Beautifully Presented Family Home in a Prestige Location
Now is your chance to secure an exceptional 4 bedroom ensuite home in one of Calwell's premier streets.
This multi-level property is not only comfortable, roomy and inviting but also it provides loads of interest with its open plan feel, large f...
Calwell, $530,000-590,000
- 4 Bedrooms EER 2.0
More...
Inflation puts pressure on rates
The Reserve Bank is under even more pressure to raise rates next week after the latest inflation figures showed consumer prices rose by 0.5 per cent in the December quarter.
The Australian Bureau of Statistics consumer price index data issued this morning puts annual inflation at 2.1 per cent, up from 1.3 per cent three months ago. The 0.5 per cent rise was slightly higher than the 0.4 per cent rise expected by the market.
The two underlying measures of inflation, preferred by the Reserve Bank when considering its 2-3 per cent target band, were also up. Trimmed mean inflation rose 0.6 per cent in the quarter, for an annual growth rate of 3.2 per cent, and weighted median CPI was up 0.7 per cent in the quarter, for an annual 3.6 per cent.
Inflation was 0.4 per cent for the quarter in Canberra.
Also this morning, the Westpac Melbourne Institute Leading Index, which indicates the likely pace of economic activity three to nine months into the future, was 7.6 per cent in November, well above its long-term trend of 3 per cent.
Westpac chief economist Bill Evans said the result combined with other recent strong data ''indicates that the [Reserve] Bank will be keen to move monetary settings back to a level where interest rates are no longer stimulatory for the economy''
((from The Canberra Times 28 January 2010))
Capital property prices surge 10pc
Lack of supply and population growth drove up the median price of Canberra homes and units by 10 per cent during 2009.
Economists and property commentators say the growth will continue this year, although interest rate rises will steady them.
Torrens and Mawson were the top-performing ACT suburbs, according to the latest data from Australian Property Monitors, which said nationally prices had grown by 12.1 per cent, their highest annual growth rate since 2003.
Canberra's median home price rose to $535,941 in December, up 10.6 per cent from December 2008, when it was $484,757.
APM economist Matthew Bell said it was Canberra's second consecutive quarter of median price growth exceeding 4 per cent.
''I suspect the strong labour market combined with rising incomes and the usual culprits of population growth and lack of new supply had a lot to do with the strong demand for properties during 2009,'' he said.
(( from The Canberra Times 28 January 2010))
