
3 August 2010 Rates on hold! As widely expected the RBA decided to leave the cash rate unchanged at its board meeting today. Given the tone of the announcement, we expect the RBA will leave rates on hold for the remainder of this year given the current inflation declining to 2.7 per cent, the lowest rate for about 3 years. The RBA's target band is 2-3 percent www.rba.gov.au
First Home Owners Grant & Bonus (Victorian properties)
As of 1 July 2010 the amount of the Bonus for a new home in metropolitan Melbourne increases from $11,000 to $13,000, and a new home in regional Victoria increases from $15,500 to $19,500.
These bonuses are in addition to the $7,000 Federal Government First Home Owners Grant (FHOG) and bring the total amounts available to first home buyers of a newly constructed home to $20,000 (for a home in metropolitan Melbourne) and $26,500 (for a home in regional Victoria).
The Bonus amount for the purchase of an established home, currently $2,000, expired on 30 June 2010.
For more information press here |
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