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Growing case for July rate cut

27 JUN 2012 • By Phillip Tarrant • 2 min read • Finance

With dwelling commitments and consumer confidence falling at an unprecedented rate, the possibility for a July rate cut is increasing - which will be welcome news for most property investors.

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Data from the Australian Bureau of Statistics last week revealed that dwelling commencements fell sharply in the March 2012 quarter and have been declining since the middle of 2010 to run at an annualised level of 122,492.

If the Reserve Bank of Australia does choose to cut the official cash rate next week, all eyes will be on the majors to see if they pass any or the entire rate cut on to their borrowers.

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Last month, ANZ was the only major bank to pass on the rate cut in full.

The lender’s decision to break ranks with the Reserve Bank and review its cash rate on the second Friday of every month meant the other majors only had to wait a couple of days after the rate announcement to see what their major peer did with rates.

 
 

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Phillip Tarrant

Phillip Tarrant

AUTHOR

Phillip Tarrant is one of Australia’s leading property commentators, with more than a decade at the forefront of conversations shaping the nation’s property investment market.

As the long-time host of the Smart Property Investment Show and a regular commentator across property, finance and business, Phillip has interviewed thousands of investors, economists, advisers, brokers, agents and industry leaders, giving him a unique perspective on the trends, policies and market forces influencing Australian property.

Beyond property commentary in the media, Phillip is an active property investor himself, with first-hand experience building and managing a diversified property portfolio across multiple markets and cycles. His insights combines this practical investor perspective with deep exposure to the broader property and financial services ecosystem.

Phillip is also CEO and co-founder of Managed, an Australian property payments and technology platform transforming the way property managers, landlords and tenants manage rental payments and property transactions.

Through his writing, podcasts and industry engagements, Phillip focuses on cutting through market noise, challenging conventional thinking and helping investors make more informed, strategic decisions. His commentary regularly explores property markets, lending, taxation, regulation, investment strategy and the changing dynamics of Australia’s housing sector.

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