Posted October 13, 2018 05:17:15The market for rental property in Melbourne is down, but not as much as some analysts predicted.
The market has slumped from $4.8 billion to $3.5 billion in a month, according to analysts at Realty Australia, a market research company.
This is partly because the Reserve Bank’s stimulus measure, which started on October 4, is only a partial solution to the market’s woes.
The Federal Government has yet to deliver on its promised $100 billion stimulus package.
The Reserve Bank will meet next week to discuss how much it wants to raise in its $4 billion package of stimulus measures.
Realty Australia says the Reserve’s stimulus package, which includes the Reserve banks’ new property tax, will be introduced at the end of October.
It is expected to cost around $100 million per property.
While it may seem counterintuitive to rent a home at $2.99 per hour, it is actually cheaper to rent it for a fraction of that.
The Reserve’s new property levy is designed to encourage people to buy homes instead of renting.
In Melbourne, a typical home costs between $2,000 and $3,000.
If a person rents for $2 a week, they are actually paying more than a homeowner who rents for just $1.50 a week.
That difference means people can buy homes that they are more likely to spend money on, and can do so with a lower monthly rent.
For a family of four renting at the $2-a-week level, a $100,000 deposit is equivalent to a monthly income of $20,000, according, to Realty.
It’s an even bigger difference for younger people, with a family renting for $1,000 a week paying an average income of around $50,000 annually.
This means younger people who are buying homes can actually save $500 a year, while older people will only save $600 a year.
Renting at the lower level also means older people, who can afford to pay more rent, will not be able to afford to rent, and will be forced to pay a higher monthly payment, Realty said.
This will also have an impact on older people who would prefer to spend their income on the home they want to buy, as they will be paying higher rents, Reality said.
While many are saying that the Reserve will raise the rate on property rentals, others are saying the Reserve is delaying the increase in the property tax to help the market.
Realty said that the rate would rise to 9.5 per cent on the $3 billion in stimulus measures, from 8.5.
The property market has also been hit by the Reserve bank’s decision to cut its interest rate by 0.75 percentage points to 0.2 per cent.
This would mean a 0.5 percentage point cut in the rate for all mortgages.
But it would also mean a 10 per cent cut for all existing loans.
This cut in interest rate could make it harder for the Reserve to make the rate cut on mortgage rates permanent, and make it more expensive for new investors to get into the market, Realtory said.
Topics:housing,business-economics-and-finance,government-and/or-politics,financial-market,property,melbourne-3000,vic,australiaFirst posted October 13, 2017 09:39:40More stories from Australia