MONARO
property muster
Rate rises undermine confidence Statement by Executive Director of the MBA-ACT, John Miller Canberra’s peak building and construction industry organisation, Master Builders ACT has pointed to the latest Australian Bureau of Statistics housing finance figures as underscoring the impact of the successive interest rate rises in the closing months of last year. The executive director of the MBA-ACT, John Miller said the 2.8 per cent national seasonallyadjusted decline recorded in December was proof of the degree to which the rate rises imposed by the Reserve Bank had served to undermine consumer sentiment.
equating to just five dwelling units is welcome,” he said. Mr Miller also expressed concern at data contained within the latest ABS release which indicated that not only were consumers being pressured by concerns about rising interest rates but also by the actual size of the financing they were required to obtain. He said the ABS data had noted that the average loan size
BOMBALA DISTRICT FORTHCOMING AUCTION “HENTON” 462.15ha/1142ac 4km frontage Mila Boggy Creek Thursday 18 March 2010
for all owner occupied housing commitments had risen to $283,000, while the average loan size for first home-buyers had risen to $290,100. Mr Miller said that it was to be hoped that the Reserve Bank continued to adopt a cautious approach to monetary policy noting the continuing uncertainty in the global economy particularly with respect to sovereign debt.
2 Storey Brick office space in busy CBD 12 Bombala Street, Cooma
He said the data also validated the industry’s concern about the impact of the rate rises on the ability of the Australian home building industry to regain and sustain momentum moving further into the first half of 2010. “What this data confirms is the degree to which consumers were spooked by the interest rate rises last year and the debate around the likelihood of further rises,” Mr Miller said. “In those circumstances we believe the Reserve Bank acted sensibly in leaving rates on hold this month.”
3 br comfortable house in Mila district, 28 paddocks, fencing in good order, undulating to hilly, granite & slate soils. Watered by Mila Boggy Ck, dams, rainfall 650mm. Well watered situation in favourted district of Southern Monaro, suitable for all sheep & cattle production.
Looking at the data for the Canberra, Mr Miller said that he was pleased to not that number of owner occupied dwellings finance in the ACT in December had defied a national downward trend b y increasing by a very marginal 0.5 per cent.
Inspection strictly with selling agents View on www.stewart-lee.com.au/henton Call Stewart 0438 396 698
“In circumstances where consumer sentiment undoubtedly took a battering, even a marginal rise
144 Maybe St, BOMBALA NSW 2632 PH: 02 6458 4455 F: 02 6458 4772
BOLLER & COMPANY Your property people
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Tracy Boller
25 Woolalla Street 4 Bed, 1 Bath, 1 Car $295,000
Graeme Boller A/H: 6452 4726 Craig Schofield A/H: 0414 865 922
AUCTION Date: Friday 19th March 2010 Time: 2pm Location: Coombah Lounge, Cooma Ex Services Club
Offering a brick building in the main CBD of Cooma. The property comprises of two levels with the ground floor featuring 3 large office areas, 2 interview rooms, a reception area, waiting room disabled toilet and disabled access. Secure storage is also available. The first floor comprises 3 more large office areas, staff amenities room, male and female toilets secure storage areas and access to a front and rear balcony. The total land size is approx 249m2 with the building area approx 380m2. The location is perfect and also has two car parking at the rear of the building. A large number of items are included in this sale these include workstations, chairs, printer stands, filing cabinets, tables, lockers, fridge, microwave and a number of sundry items.
sales@bollerco.com.au
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BOLLER & COMPANY Your property people
172 Sharp Street, Cooma Phone: (02) 6452 4155 www.bollerco.com.au
A Sunny Corner t 4PMJE IPNF PG EPVCMF CSJDL DPOTUSVDUJPO t 5XP MBSHF CFESPPNT PQFO QMBO MJWJOH t /BUVSBM HBT DPPLJOH VOEFSøPPS IFBUJOH t 4PMJE MPX NBJOUFOBODF JOWFTUNFOU t 4JOHMF DBS HBSBHF
42 Woolalla Street 2 Bed, 1 Bath, 1 Car $195,000
172 Sharp Street, Cooma Phone: (02) 6452 4155 www.bollerco.com.au email: sales@bollerco.com.au