Economists at Fannie Mae and the Mortgage Bankers Association differ on how much room mortgage rates have to come down and how fast home price appreciation will cool.
A new era of luxury beachfront living has arrived at Palm Beach with the launch of Retreat Palm Beach – a boutique collection of 56 wellness-inspired apartments.
Set on the beachfront at 188 Jefferson Lane, Retreat Palm Beach will span nine levels and include two- and three-bedroom residences, most with butler’s pantries, private outdoor spaces and curated interior finishes. Prices range from $1.35m to $3.95m.
Retreat Palm Beach is the fourth Gold Coast development by Ignite Projects and comes hot on the heels of The Monaco – a landmark luxury tower at Main Beach completed in 2024 and a finalist for The Urban Developer’s Development of the Year award – and Cabana, one of the Gold Coast’s fastest-selling residential projects of 2021.
The Retreat Palm Beach development will deliver a boutique collection of 56 wellness-inspired apartments.
Designed by Plus Architecture, Retreat Palm Beach is inspired by the Mediterranean, with soft curves, natural textures, and an emphasis on light, air, and indoor-outdoor flow.
A feature is the ground-floor communal wellness space, envisioned as a subterranean Mediterranean-style day spa, with a lagoon pool and floating day beds.
It will also include a cold plunge pool, spa, infra-red sauna, gymnasium, barbecue and outdoor dining areas.
Residents will have access to communal e-bikes and a digital concierge system for booking amenities and services.
A featured amenity is the ground-floor communal wellness space equipped with a lagoon pool and floating beds, a cold plunge pool, spa, infra-red sauna, gymnasium, barbecue and outdoor dining spaces.
Ignite Projects director Josh Foote said it would be a luxury sanctuary by the sea.
“We’ve considered every detail, from the flow of each floorplan to the materials and amenities, to ensure Retreat delivers calm, clarity and connection for residents,” he said.
“We want this space to feel like a retreat from the harsh elements of the beach, so there is a softness to the design featuring curved forms, warm organic stone, textured materials, and lush tropical gardens that create a real sense of relaxation and privacy.
“It’s a rare beachfront opportunity that prioritises wellness, privacy, and a genuine sense of retreat – something we believe the market is really craving right now.”
The luxury beachfront development will span nine levels and include two- and three-bedroom residences, with prices ranging from $1.35m to $3.95m.
Sales and marketing is being led by New Property Agents (NPA), continuing their successful partnership with Ignite Projects on Cabana and The Monaco.
NPA chief executive Andrew Erwin said Retreat Palm Beach offered a rare chance to secure a residence of scale and quality in a tightly held beachfront location.
“Retreat Palm Beach responds perfectly to what we know buyers want – boutique scale, absolute quality, and a lifestyle that’s both elevated and effortless,” he said.
“The demand for premium beachfront residences in Palm Beach continues to grow, but supply remains incredibly limited, especially for people looking for a holiday home investment.
Located at 188 Jefferson Lane, construction is expected to start in October with completion scheduled for late 2027.
“Retreat offers a rare opportunity for buyers to secure a future-forward residence in one of the Gold Coast’s most tightly held locations. Whether it’s a downsizer looking for low-maintenance luxury or a lifestyle investor wanting flexible holiday income, this project ticks all the right boxes.”
Construction is expected to start in October, with completion scheduled for late 2027.For more information or to book an appointment at the on-site sales display, visit retreatpalmbeach.
com.au.
RETREAT PALM BEACH
Developer: Ignite Projects
Address: 188 Jefferson Lane, Palm Beach
Features: Nine level development with 56 two- and three-bedroom apartments priced between $1.35m and $3.95m
Sales display: On site
More info:retreatpalmbeach.com.au
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New details of Adrian Portelli’s new renovation show has been revealed.
Adrian Portelli has made his biggest purchase yet by ditching The Block for Channel 7’s new competitor My Reno Rules.
Instead of Portelli appearing on the show with a paddle in hand, this time he has bought himself a whole new TV show.
As well as starring on the new series, Portelli’s rewards club company LMCT+ will be the My Reno Rules major sponsor and he has donated the two Bulleen homes that will be flipped on air by the contestants.
Just this week, TV host Alex Cullen announced he would also be joining Channel 7, the same network Portelli’s new show will be airing on.
Portelli and Cullen made headlines last year when Cullen was axed from the Today show after being the first to refer to Portelli as “McLaren Man” on air, in return for a $50,000 payment.
Alex Cullen has announced he’ll be joining Channel 7 the same week as Portelli announces his new show on the same network.
Although Portelli will not be joined by Cullen on My Reno Rules, they will be on the same network, all within a year of the controversy.
Portelli’s appearances on The Block over the seasons saw him spend over $27 million across eight different houses and earnt himself the name ‘The Lambo Guy’ for rocking up to auctions in a Lamborghini.
Despite his platform growing substantially from his time on The Block, since announcing the new show, Portelli has taken a few different swings at the Channel 9 show.
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“You may have seen on previous reno shows they might do auctions, but unfortunately only maybe 1 per cent of the viewing audience have the capacity to buy these homes,” he said on Sunrise.
Portelli also took to his Instagram to announce the show, as well as taking the opportunity to have a dig at the other show.
“The Reno games looked a little dusty,” he said. “Time for a fresh coat. The gloves are off.”
“Bet my high school teachers never thought … I’d have my own show on Channel 7!,” he said in the social media post.
Portelli went on to call The Block homes “hyped-up and over valued,” on his Instagram stories – despite paying the high prices for the properties on more than one occasion.
Adrian Portelli’s new show is set to rival The Block. Picture: Rohan Kelly.
He also said The Block’s host Scott Cam was “telling porkies” when Scott Cam said the show would welcome Portelli back.
“I told you guys I was leaving. There was never a conversation of being told to sit out of this season.”
He also revealed to his followers that this was the reason he had been searching to buy two properties next to each other over the last year.
Popular reality TV vet and host Dr Chris Brown will be hosting the new show, what either of them know about renovating homes is yet to be seen.
The new renovation competition series is a spin off of MKR (My Kitchen Rules) and is sure to be an attempt at gaining the same sort of audience The Block has received.
The post Adrian Portelli new renovation TV show shock details appeared first on realestate.com.au.
“It’s my property and I have a right to see how my tenant is looking after it” – it’s a common refrain that I hear from landlords all the time.
As a landlord, you do indeed have a right to enter your property but that right is strictly controlled by legislation.
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The starting point is generally this – you cannot enter your rental property without first giving notice in writing to your tenant.
Your tenant has the legal right to quiet enjoyment of the property and the landlord is not permitted to cause any interference with the reasonable peace, comfort or privacy of the tenant. That being said, you absolutely have every right to see how your property – and your tenant – are doing, but you must follow the notice periods set out in the legislation.
Sure, you have a key to your rental. That doesn’t mean you can use it willy nilly.
This is great protection for you and your tenant because everyone knows their rights and obligations and no one can be accused of being heavy handed or intimidating.
The most common times a landlord or property manager will want to enter the property are to conduct routine inspections and to carry out maintenance or repairs.
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You are permitted to carry out 4 routine inspections a year and for each one, you must give your tenant 7-28 days written notice stating the purpose of the entry, the date of the entry and a period of up to 2 hours within which the entry will take place.
If you want to carry out maintenance or repairs, you must give 48 hours notice to the tenant but if the tenant has requested it, you can go in at any time.
You can’t just access your property whenever you want, even if it is your home.
You must also be very careful of the time frame when you enter a property.
You or your property manager should only enter rented premises during normal hours which means between 8am and 8pm on any day other than a Sunday or a public holiday.
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Another really important thing to remember is that if your tenant tells you that they want to be present at the time of entry, then you cannot enter unless you make a reasonable effort to organise a time when the tenant is present. It is always good practice to find a mutually convenient time in any event and this will help you maintain a good working relationship with your tenant.
This is your tenant. Sure, you own the home, but she lives there. So respect her rights.
If you have done everything right, and the tenant then refuses to allow you entry, you can serve a breach notice to the tenant asking them to give access. If the tenant still refuses, then you can apply to the Tribunal for an order for access.
– Answer provided by Paul Edwards, REISA’s Legislation and Industry Adviser
The post When you can – and can’t – enter your rental property appeared first on realestate.com.au.
Hulk Hogan’s net worth has been revealed following the shocking news of his death at the age of 71.
The wrestling icon after he suffered a heart attack at his home in Clearwater, Florida, on Thursday, US time.
The sports star is survived by his wife Sky and children Nick and Brooke – who he shared with ex-wife Linda Hogan. He also has two grandchildren, Oliver and Molly.
Hogan’s tragic death sees him leave behind a fortune for his family.
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Hulk Hogan (right) and his son Nicholas (left) then-wife Linda and daughter Brooke in 2006. Picture: Stuart Ramson/AP
The athlete with his wife Sky and US President Donald Trump. Picture: mrs.sky.hogan/Instagram
What was Hulk Hogan’s net worth?
According to Celebrity Net Worth, Hogan had a net worth of $US25 million ($A37 million) at the time of his death.
The majority of his wealth stems from his wrestling career and many reality television show appearances.
The iconic wrestler had invested his money in several businesses and real estate around Florida.
Hogan still earns money from merchandise sales and residuals with his brand, Hulk Hogan.
Hogan had a net worth of $US25 million at the time of his death.
However, the athlete lost millions of dollars after his divorce from his ex-wife Linda.
At the time, divorce filings showed that Hogan’s net worth was $US30 million ($A45 million).
Hogan was forced to fork over 70 per cent of the couple’s liquid assets, $US3 million ($A4.5 million) in cash to cover property settlements, plus an ongoing 40 per cent ownership stake in his various businesses.
In a 2011 radio interview, Hogan admitted that the divorce brought him to the brink of bankruptcy.
Linda did not receive alimony, but she did receive $US7.44 million ($A11.2 million) of the $10.41 million ($A15.7 million) they held in bank and investment accounts.
She also got to keep a Mercedes-Benz, a Corvette, and a Cadillac Escalade.
Hogan admitted that he blew “hundreds of millions” on an extremely lavish lifestyle at the peak of his career in the 1990s.
Hogan and his ex-wife, Linda. Picture: Stephen Chernin/AP
Real Estate
In 1992, Hogan bought a waterfront property in Belleair, Florida for $US2 million ($A3 million).
He quickly demolished the home and spent several years building an opulent mansion. Construction was completed in 1996.
The five bedroom residence boasted a gym, a tanning room, a wet bar, a hot tub, a guesthouse, a swimming pool with waterfalls, and two docks along the Intracoastal Waterway.
The estate was featured on his reality show “Hogan Knows Best”, which aired on VH1 from 2005 and 2007.
Hogan and Linda listed the luxurious home in 2006 for an eye-opening $US26 million ($A39 million).
After multiple price reductions, Hogan offloaded the mansion in 2012 for $US6.2 million ($A9.4 million).
Hogan has passed away at the age of 71 after suffering from cardiac arrest inside his Clearwater, Florida, home. Picture: Google Maps
In 2012, Hogan snapped up a home in nearby Clearwater, Florida for $US3.3 million ($A5 million), Realtor reports.
The five bedroom estate, which was built in 2009, comes complete with an elevator, fireplace, pool and two spas.
Inside, high ceilings tower over the chic breakfast area, den/office space, family room, elegant dining room, and great room.
The expansive property also boasts a fully-equipped gym that the sports star often used to stay in tip-top shape, a home theatre, and a resort-style pool.
The WWE star also purchased the property next door, which features a much smaller house, for $US1.6 million ($A2.4 million) in 2016.
The properties combined are now worth an estimated $US11.5 million ($A17.4 million).
Hogan poses with Sydney Roosters players in 2009. Picture: Cameron Spencer/Getty Images
Hulk Hogan’s career
Hulk Hogan, whose real name is Terry Gene Bollea, rose to fame in the 1980s.
He became a larger-than-life figure during his time with Vince McMahon’s WWE, then known as the World Wrestling Federation, The US Sun reports.
His influence propelled WWE into a global phenomenon. Hogan’s unforgettable ring walks, accompanied by his Real American theme song, thrilled fans and sent arenas into a frenzy.
His iconic act of tearing his bright yellow shirt before a match became a signature move, replicated by his devoted Hulkamania fanbase for decades.
Hogan’s fame extended beyond wrestling, with appearances on reality TV, commercials, and films, including Rocky III alongside Sylvester Stallone.
He is remembered for some of WWE’s most legendary matches, including his electrifying bout against Dwayne “The Rock” Johnson at WrestleMania 18 in Toronto’s SkyDome, famously billed as “Icon vs. Icon.”
Parts of this story first appeared in Realtor and The US Sun was republished with permission.
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Buying or selling a home can be stressful to navigate, but a group of real estate agents is changing the way it works to try and make it more transparent for Aussie buyers and sellers.
Real estate group Jellis Craig has been rolling out a series of changes, including updates to its for-sale signs, website and digital tools, to make the property experience simpler for those on the real estate journey.
For sellers, one of the biggest shifts has been the introduction of Jellis Craig Live, a digital dashboard that gives vendors real-time insights into their campaign.
Sellers can see how many people have viewed their listing online, how many groups have attended inspections, and even read agent comments about individual buyers.
“You can be down at the café, and you can hit refresh and then see there has been 15 groups through, or only a few,” said Jellis Craig head of marketing Nichola Emmins.
“When the agent makes the call to the vendor, they know that you already know how many people came through, and therefore they’ve got a next step.”
That kind of visibility is designed to take the guesswork out of selling and ensure agents and sellers are on the same page from day one.
The latest step for Jellis Craig has been a rebrand, and it’s part of a broader push to be more open and approachable.
“We conducted consumer research and found that people rated us really highly for transparency,” Ms Emmins said.
“It’s all about transparency and openness, we want to make sure we are known for being warm, friendly and open.”
The changes don’t stop at the vendor experience, with buyers also seeing improvements, starting with the humble for-sale sign.
The group has made small but impactful changes to make important information clearer and help buyers get the facts at a glance.
It has doubled down on its use of QR codes as well, with Ms Emmins noting they received an average of at least 20 scans per board.
Jellis Craig chief executive Andrew McCann said the real estate marketplace had changed dramatically in recent years.
“This brand evolution reflects our commitment to stay ahead of that curve and to visually represent the calibre of our service and team,” he said.
“We knew our brand was strong, but like any great organisation, we took the opportunity to modernise. This new identity is about evolution, not revolution, it’s thoughtful and strategic.”
Ms Emmins said the rebrand was designed to future-proof the business in a rapidly evolving property landscape, positioning it to expand market share while maintaining its proud tradition of quality and integrity.
“The new Jellis Craig brand is more than a logo, it’s a statement of who we are today and where we are headed,” Ms Emmins said.
The post The real estate experience is changing, with transparency at the forefront appeared first on realestate.com.au.
The home at 52 Hodges Cres, Vincent, is for sale for offers over $399,000. Picture: realestate.com.au
With North Queensland home prices soaring, affordable property can be hard to dig up, but there are still gems to be found even if they’re a little more diamond in the rough than sparkling jewel.
The latest PropTrack data showed the median house price in the Townsville region shot up 24 per cent in the past 12 months to $570,000.
The cheapest house currently for sale in Townsville itself is a three-bedroom highset home on the market for offers over $399,000.
But by saying goodbye to the bright lights of the “big” city, buyers can find bargains within an hour or two of Townsville.
In Ayr, the average cost of a home is $340,000, while in Charters Towers it is $250,000 and in Ingham it is $287,000.
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Here are a selection of the cheapest properties on offer – though most need quite a bit more than elbow grease to get them shining again.
110 Eleventh Ave, Home Hill. Picture: realestate.com.au
$150,000
Being sold “as is”, this three-bedroom, one-bathroom home is on a fenced block of about 500 sqm and is part of a non-functioning body corporate with the neighbouring duplex.
The house has an open plan living and dining area, a small kitchen and a front sunroom.
77 York St, Queenton. Picture: realestate.com.au
$170,000
Sitting close to the heart of Charters Towers, this character home has a new roof, an open plan living and dining space, a spacious kitchen and a deck off the side.
There are four bedrooms, a family bathroom with shower and a separate toilet, while the 632 sqm block is fully fenced.
12 Allingham St, Ingham. Picture: realestate.com.au
$179,000
This three-bedroom home with big shed is on an 809 sqm block walking distance to the Ingham CBD.
The house has an open plan living and dining room, an updated kitchen and a modern bathroom.
74 King St, Charters Towers City. Picture: realestate.com.au
74 King St, Charters Towers City
$210,000
Retaining some of its original charm, this home has an open plan kitchen and dining space, a sunroom and a separate lounge room.
There are two bedrooms, a bathroom crying out for a reno and an internal laundry, all on a fenced 670 sqm block.
13 Pavia Drive, Nome. Picture: realestate.com.au
$225,000
This one-bedroom home is in the gated community of Cleveland Palms, which includes an exclusive all-weather boat ramp and fishing platform.
The house has an open plan sleeping, living, dining and kitchen area, a bathroom, a full length veranda and an 11m carport.
26 Miles St, Ingham. Picture: realestate.com.au
$260,000
This home is sitting on a massive 1012 sqm block in the heart of Ingham and comes with three bedrooms, one bathroom and a single garage.
Elevated, the home has a front veranda, a big lounge and an open plan kitchen and dining space.
52 Hodges Cres, Vincent. Picture: realestate.com.au
Offers over $399,000
This highset, three-bedroom home is Townsville’s cheapest detached house listed for sale on realestate.com.au right now.
Being sold “as is”, the house has timber floors, original kitchen, a dining room, a lounge room and a bathroom, while outside there is an upstairs deck and a raised deck in the backyard.
The post A look at some of NQ’s cheapest homes appeared first on realestate.com.au.
The Church House at 25 Wirilda Way, Fish Creek, is up for sale.
A couple who rescued an abandoned, dismantled Melbourne church and transformed it into a jaw-dropping house are selling their divine creation with $2.2m-$2.4m price hopes.
Peter and Mary Riedel’s journey to resurrect the property in South Gippsland was chronicled on the popular television show Grand Designs Australia.
Mr Riedel said after seeing an advertisement in The Weekly Times for parts of an 1876-era Anglican Church that had been taken apart, he and his wife bought them at a clearing sale in 2009.
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It took two trucks to transport the ex-house of worship’s various bits and pieces to an
8.34ha site at 25 Wirilda Way, Fish Creek, with frontage to Hoddle Creek.
Mr and Ms Riedel then embarked on a massive renovation project.
Before even starting on the house, their first task was to build a 600m-long switchback road to their address.
Outdoors, they put in 8000 native plants that have since grown into mature trees.
Mary and Peter Riedel at the The Church House. Picture: Zoe Phillips.
The distinctive windows and even a pulpit feature inside.
There’s plenty of storage space in the main kitchen.
In resurrecting the church into a house, they aimed to retain its historic character.
As an engineer, Mr Riedel took inspiration from old photos of the religious building from before it was dismantled.
Named The Church House, the property nowadays features vaulted cedar ceilings, timber panelling, church windows, a ceiling that is 8m-high at the apex, multiple living zones, a sunroom that opens to a patio and four bedrooms with their own ensuites.
A self-contained upstairs suite has another bedroom plus an ensuite, kitchenette and sitting area.
Thousands of trees have been planted on the property.
The ceilings are 8m-tall at their highest point.
A self-taught interior designer, Ms Riedel sourced the main front doors from a church in Lithuania.
Indoors, a pulpit serves as a bookcase, and a blacksmith created many of the light fittings.
The abode has views across South Gippsland’s rolling hills and the Strzelecki Ranges.
Across the property, there’s a wine cellar, orchard, vineyard, olive grove, dam and walking trails.
Although the house was originally designed to host the Riedels’ six adult children and 16 grandchildren, in 2017 they decided to open it up as guest accommodation.
“Seventy per cent of our guests are international tourists with high occupancy between October and Easter – it’s like having a dinner party every night, but you’re cooking,” Mr Reidel said.
The Riedels have operated the house as an accommodation business since 2017.
Even the bathrooms have a holy sense of style.
Wilsons Promontory National Park is a 20-minute drive from The Church House and Melbourne is a 2.5-hour drive away.
Castran director Lachlan Castran said buyers inquiring about the property included those who wanted it as a home or country retreat, while other people hope to continue operating the short-term accommodation while living on-site.
“I’m a bit of a sucker for the captivating views and also the absolute privacy that the property has,” Mr Castran said.
“With respect to the dwelling itself I think that the ceilings grab me and the sense of volume within the main room is amazing.”
Green views are on display all around the home.
The project started when the Reidels saw an advertisement in The Weekly Times.
He added that The Church House had retained its unique character thanks to the Riedel’s painstaking renovation.
“The kitchen and open-plan living and dining area is quite superb, and I think it’s very sympathetic as well to the overall design,” Mr Castran said.
The Church House is being sold via expressions of interest.
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Drawn-out construction times and escalating costs are forcing some property owners to abandon plans to build in regional SA.
Industry experts say many are blindsided by the fact that builders couldn’t determine true costs until their home was finished years down the track
Instead, they opted to sell the land they bought just six to 12 months prior.
Exp Real Estate agent James Stacy, who sells primarily in Port Lincoln, said people were buying cheap land but putting it straight back on the market as soon as they got their building prices.
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Building a home in Port Lincoln has become too expensive for many.
“The cost of building regionally is a complete shock,” he said.
“I think it’s a combination of high labour prices and high product costs as well.”
Mr Stacy said it was much cheaper to build the same product in Adelaide.
Existing homeowners were benefiting though because Mr Stacy said replacement costs for many houses, which were in short supply, were much higher than the asking price.
“That’s what’s driving the existing home prices here,” he said.
Latest PropTrack data shows Port Lincoln’s median house price has climbed 10 per cent over the past year and 43.5 per cent over the past three to $495,000.
It was a similar story on the Copper Coast, according to Exp Real Estate’s Tim Hosking.
He said while there was a lot of development happening in areas like Moonta, Kadina and Wallaroo, the unknown cost at the end of the 18 months to 2.5 years it would take to build was stopping a lot of people.
“They get an indicative number but they don’t know what it will really be,” he said.
Mr Hosking said he had taken many properties back to market after failed build attempts.
“In most cases they’ve held onto it for six months to a year,” he said.
While not an instant fix, Mr Hosking said modular homes could help alleviate the issue.
“Modulars over time could become more of an answer – over time they’ll probably become more acceptable,” he said.
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Several offers have been made for the Kadina modular home at 2 Addison St.
It has two bedrooms and two bathrooms.
Mr Hosking was selling a two bedroom, two bathroom modular home at Kadina – a show home for BoxMod.
The company specialises in modular homes built in Chinese factories and shipped to SA for assembly – they can arrive in months, be installed within weeks and are priced under $300,000, excluding the cost of land.
It is led by SA’s Neville Roberts, who is a widely recognised former VFL and SANFL footballer and has extensive experience in the modular industry.
With luxury finishes and pre-installed electrical, plumbing and airconditioning systems, they are much more appealing than earlier designs.
Mr Hosking said there were already offers on the table for the Kadina modular home, which had a price guide of $425,000 to $450,000.
Mr Stacy said many added costs associated with modular homes, including moving it to its destination with a police escort because of the size, could pose issues, but there was a place for it in the market.
“There’s definitely a demand for it, I think we’ll see more kit homes coming through,” he said.
The post Construction times and cost forcing some to give up on dream of building in regional SA appeared first on realestate.com.au.
An August cash rate cut hinges on labour and employment levels adjusting naturally, households have been warned.
All eyes are firmly on the next meeting of the Reserve Bank of Australia (RBA) in two weeks’ time following July’s shock rate hold, which left economists and markets flummoxed.
Speaking in Sydney on Thursday, governor Michele Bullock defended the controversial decision and said the RBA “can’t wave a magic wand and control how adjustments in the labour market play out”.
“Interest rates are too blunt an instrument for that,” she warned. “I am not here to claim credit for the fact that the adjustment has so far taken place in a less costly way.”
Instead, Ms Bullock reiterated the RBA board needs to accurately balance inflation with employment levels.
It comes after questions over whether the cash rate hold was a missed opportunity for households.
“Our overarching goal is to promote the economic prosperity and welfare of the Australian people,” Ms Bullock said. “This means setting monetary policy in a way that best achieves both.
“Our goals of low and stable inflation and full employment are closely linked and generally reinforce each other.”
Labour market tug-o-war
Managing Australia’s labour market has been a careful game of tug-o-war for the bank since COVID-19, made unexpectedly challenging by the war in Ukraine.
“The fact that unemployment has remained low and employment growth has remained strong is remarkable – and very welcome,” she said. “And it is striking that the increase in the unemployment rate has been small compared with the large decline in inflation.”
She said the bank does not look for a specific outcome, like a specific unemployment rate, as there are too many ways the labour market can adjust.
Since cutting the cash rate by 0.25% in May, Ms Bullock said the board is aware labour market conditions could be less tight than the bank forecast.
By this token, cutting the cash rate without more indicative data could be a risky game.
“Last week brought us the latest labour market data, which confirmed that the unemployment rate increased in the June quarter,” Ms Bullock said. “The labour market moved a little further towards balance, as we were anticipating.
“While the June monthly data showed a noticeable pick-up in the unemployment rate, other measures – such as the vacancy rate – have been stable recently.”
Ms Bullock has long defended both the board’s dual mandate and its unique trajectory next to other similar economies.
The gradual easing of inflation back to within the board’s 2-3% target range seems secure, though data next week will confirm whether or not the bank can class the easing as stable.
From there, it will become clearer whether August will be the time for the much anticipated third rate cut.
While the bank says it has limited levers it can pull for now, Ms Bullock confirmed leading indicators are not pointing to further increases in the unemployment rate in the near future – a positive indication another cut may well be just around the corner.
This article first appeared on Mortgage Choice and has been republished with permission.
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