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Analysts Predict Cooling in House Price Growth Amid Interest Rate Uncertainties

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NOTICE OF MEMBERS EXTRAORINDARY LAND DEALING MEETING

Analysts Predict Cooling in House Price Growth Amid Interest Rate Uncertainties

 

By Jeff Gibbs

As the Reserve Bank of Australia (RBA) keeps interest rates steady, experts are forecasting a slowdown in house price growth during the upcoming winter months, influenced by ongoing uncertainties about potential rate hikes. Despite this, a prevailing fear of missing out (FOMO) may drive buyers who have been sidelined, eagerly awaiting rate cuts.

Current Rate Status and Economic Indications

The RBA’s recent decision to maintain the cash rate at 4.35% comes with a cautious note from RBA Governor Michele Bullock, suggesting further hikes could occur if inflation remains unchecked. This announcement aligns with data from the March quarter showing stronger-than-expected inflation, leading financial markets to adjust their expectations for a rate cut to no earlier than mid-2025.

Impact on Property Market Dynamics

Eleanor Creagh, a senior economist at PropTrack, noted that the market had previously benefited from a pause in rate hikes since November, resulting in robust price increases. However, she anticipates a moderation in this trend: “As we enter the typically quieter winter period and with rate cut expectations pushed to possibly early 2025, we expect to see a slight deceleration in price growth.”

Ben Burston, Chief Economist at Knight Frank, echoed this sentiment, highlighting that the potential for a rate cut this year has significantly diminished following the RBA’s recent statements. He pointed out that while buyer caution regarding interest rates persists, the stronger drivers of market activity—such as rental price increases, limited housing supply, and population growth—continue to exert significant influence.

Seller and Buyer Activity in a ‘Normal’ Market Environment

With disruptions like school holidays and public holidays now past, the real estate market is entering a period that will better reflect standard conditions. Upcoming auctions are set to increase notably, with over 2,548 homes scheduled this week—a 43% rise from the same period last year.

Anne Flaherty from PropTrack observed that unlike typical post-Easter trends, the market has seen a sustained high volume of listings. “Clearance rates are holding up well, averaging around 60% in recent weeks, which indicates continued strong buyer engagement,” she added.

Regional Variations and Market Segmentation

Cate Bakos, a Melbourne-based buyers’ advocate, described the current market as exhibiting a ‘two-speed’ dynamic, where well-presented properties attract significant competition, whereas less desirable listings are slower to sell. She also noted improvements in the availability of building materials and labour, which could influence market activity.

While Victoria and New South Wales report higher listing volumes, markets in South Australia and Western Australia have experienced limited supply, contributing to continued price increases in Perth and Adelaide.

Future Expectations and Strategic Buying

Rich Harvey, a buyer’s agent, noted a prevailing hesitancy among buyers concerned about current interest rates, with many awaiting clearer signs of potential rate reductions. “Once rate cuts become more likely, we anticipate a resurgence in market demand,” Harvey stated.

Bakos predicts that the RBA’s decision to hold the rate will bolster buyer confidence, potentially prompting many to enter the market before any actual rate cuts, recalling the rapid price increases seen in 2021. “As soon as there’s talk of a rate drop or an actual rate drop, we’re anticipating that buyers will flood in—and they don’t want to get swept up in that,” she explained.

In summary, while the Australian housing market may face a period of slower growth due to the interest rate environment, underlying factors such as low supply and high demand continue to support active market conditions.

 

For more real estate news, click here.

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Flying high – Redmen selected in Corella’s Squad

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NOTICE OF MEMBERS EXTRAORINDARY LAND DEALING MEETING

Flying high – Redmen selected in Corella’s Squad

 

By Gary Nichols

TWO Grafton Redmen players have bolted into the NSW Country Corella’s team after impressive debuts for Mid North Coast at the NSW Country Championships in Tamworth over the June long weekend.

Natalie Blackadder and Yuri Fuller have been instrumental in Grafton’s run to a tilt at this year’s Mid North Coast Women’s 10s premiership.

Both players had no idea if they did enough to gain selection in the Country squad, however a phone call from the Corellas’ coach on Friday confirmed what they hoped to hear.

“The coach called me about 10am while I was at work. He asked me how I was going and said he was just giving me a call to inform me I had been selected in the Country squad,” a jubilant Blackadder said.

“He also gave me a few tips on what I have to work on to improve my game which was great.”

It wasn’t so smooth sailing for Fuller who had to endure a nervous ten-hour wait for the call she thought would never eventuate.

“I didn’t get an early phone call because I put down the wrong number on the registration sheet,” Fuller laughed.

“They had to go searching for me and I got the phone call about eight-thirty that night.

“During the day I just excepted my fate and believed I missed out.”

Blackadder admitted she was a bundle of nerves before Mid North Coast’s opening game in Tamworth but added as soon as she ran out on the field the nerves quickly vanished.

“I thought I was going to die when we were warming up,” Blackadder said.

“But once I got out there, I cleared my head, made my first tackle and I was all good.

“It was such a different experience playing fifteen-a-side rugby. You have your role, and you have to stick with it as there is less room than ten-a-side.”

For the rangy Redmen back-rower, it was by chance she even tried out for the representative side.

“I only tried out for Mid North Coast because Tamar (McHugh, Redmen captain) and Yuri did it. I thought to myself, why not give it a go and see where it takes me,” she said.

Fuller, a prolific try-scorer, who can slot into most positions in the backline, said her selection had a lot to do with the improvement of the Grafton Redmen Women’s side and the quality of women’s rugby throughout the Mid North Coast.

“Our team has improved dramatically over the past two years and obviously the growth of Women’s Mid North Coast rugby has produced a higher standard with quality players throughout the Zone,” Fuller said.

 

For more sports news, click here.

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GIANTS AFLW return to Canberra for first Community Camp

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NOTICE OF MEMBERS EXTRAORINDARY LAND DEALING MEETING

GIANTS AFLW return to Canberra for first Community Camp

 

The GIANTS’ AFLW list is heading to Canberra on 4-5 July to meet the footy community and inspire the next generation of footy superstars, as part of the first-ever, league wide AFLW Community Camp program.

Around two months out from its NAB AFLW Round 1 clash at Manuka Oval on Saturday, 31 August, the GIANTS players will spend some time with their fans at their home away from home.

Headlining the camp is the Canberra Girls Footy Festival which welcomes girls aged 5-14 to get involved in a jam-packed night of fun and footy alongside GIANTS AFLW players.

To be held at EPC Solar Park in Phillip on Thursday, 4 July, the Girls Footy Festival is open to local footballers and NAB AFL Auskick participants, as well as anyone wanting to come and try Australian rules football in a fun and friendly environment. In addition to the GIANTS players, there will be activities and games, large inflatables, giveaways and, of course, a barbecue.

As part of the AFLW Community Camp, the GIANTS will also hold a Coach Your Way session featuring GIANTS coaching staff and its star defender and accredited Level 3 coach, Katherine Smith.

On Friday, 5 July the GIANTS players will connect with hundreds of Canberra school children when they visit to schools around the nation’s capital.

AFL NSW/ACT’s Participation and Programs Manager, Dylan Potter, said of the GIANTS’ 2024 AFLW Community Camp: “This is another great opportunity for footy fans in Canberra to meet elite players face to face.

“Auskick and junior girls will be particularly excited with the Canberra Girls Footy Festival kicking off on Thursday. This will be the first time we’ve brought women and girls from across the ACT to meet and learn from the GIANTS’ AFLW team and I can’t wait to see everyone loving the game together.

“Thank you in advance to the community for their support and the GIANTS AFLW program for visiting Canberra in a year when the ACT is celebrating 100 years of footy.”

Canberra Girls Footy Festival details
Date: Thursday, July 4
Time: 4:30pm-7pm
Location: EPC Solar Park, Phillip
Age: 5-14 years

Coach Your Way program
The Coach Your Way Program is exclusively available for women and girls looking to develop their skills in coaching.
Date: Thursday, July 4
Time: 5:30pm-7pm
Location: EPC Solar Park, Phillip
Register: Scan the QR Code

NAB AFL Auskick Burst in Canberra
Participants inspired by the GIANTS will have an opportunity to join the fun weekly, with NAB AFL Auskick opening in Canberra from 21 July, offering participants half a season of the Auskick experience and the beloved Auskick pack.

We call it Auskick Burst, with participants bursting on the footy scene and having a great time.

Auskick Burst will be offered at a greatly reduced price, which will be revealed before 4 July’s Girls Footy Festival.

NAB AFLW Season 9 coming to Canberra
GIANTS fans will get a chance to see the team in action in Round 1 of the NAB AFLW season and again in Round 3.
Round 1
1:05pm Saturday, 31 August
GIANTS v Western Bulldogs
Round 3
5:05pm Sunday, 15 September
GIANTS v Gold Coast Suns

Tickets for these matches will be available closer to the date.

 

For more sports news, click here.

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Seniors Urged to Speak Up About Home Aged Care Services

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NOTICE OF MEMBERS EXTRAORINDARY LAND DEALING MEETING

Seniors Urged to Speak Up About Home Aged Care Services

 

The Aged Care Quality and Safety Commission has released its first report specifically for people receiving home aged care services, titled Complaints about Aged Care Home Services – Insights for People Receiving Care. The report highlights several critical issues and offers guidance on how recipients can address their concerns.

Major Issues Identified:

  • Consultation and Communication: The most frequent complaints (15%) relate to poor consultation and communication between service providers and recipients.
  • Fees and Charges: The second most common issue (10%) involves financial concerns, particularly regarding fees and charges.

Despite the high number of people accessing home care services, there are fewer complaints compared to residential aged care. Over the report period (July to December 2023), the commission received 8,021 complaints and inquiries, resolving about 4,800 of them (just over half). The average resolution time was 59 days, with 65% of complaints resolved within 60 days.

Encouraging Feedback and Complaints

The report emphasizes the importance of feedback from the over 1 million older Australians receiving home care services. It aims to boost confidence in the quality and safety of home care by ensuring recipients feel empowered to express their concerns.

Key Messages from the Commission:

  • Choice and Control: Recipients should have choice and control over their care.
  • Raising Concerns: If something isn’t right, recipients are encouraged to speak up.

Aged Care Quality and Safety Commissioner Janet Anderson and Aged Care Complaints Commissioner Louise Macleod both stress the importance of addressing issues directly with service providers. However, if this is not possible or if issues remain unresolved, the commission is available to assist.

How to Make a Complaint

Complaints can be made directly to the Aged Care Quality and Safety Commission through the following channels:

Who Can Make a Complaint:

  • Recipients of aged care services
  • Family, friends, representatives, and carers of recipients
  • Aged care staff and volunteers
  • Health and medical professionals

Important Note:

  • Service providers cannot punish anyone for making a complaint.
  • If you’re raising a concern on behalf of someone else, ensure they are aware and involved in the process.

For more detailed information on making a complaint and understanding the complaints process, visit the Aged Care Quality and Safety Commission website.

Conclusion

The report underscores the importance of open communication and the need for recipients of home care services to feel confident in raising issues. By addressing concerns directly or through the commission, recipients can help ensure they receive the high-quality care they deserve.

 

For more seniors news, click here.

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