Western Property June 3 2022

FOR THE HOME OWNER, THE HOME SELLER AND THE HOME BUYER

ISSUE 400

Western Property Your complete guide to real estate in western Sydney

WINTER’S HERE IMPORTANT HOME SAFETY ADVICE

SEE PAGE 3

COLYTON OPPORTUNITY

OPEN HOMES & RENTALS GUIDE

ALL EYES ON RBA DECISION

SEE PAGE 6

SEE PAGE 13

SEE PAGE 21

Put Our Winning Team to Work For You Phil Haley 0412 355 020

Litsa Meleti 0466 969 164

Gizzelle Powell 0428 934 618

Paul Tanner 0410 587 553

Peter Parker 0408 432 998

Victor Borg 0439 755 081

NOBODY IN THE WORLD SELLS MORE REAL ESTATE THAN RE/MAX.® WW45039

Sell your property with LJ Hooker Colyton | St Clair and we will give you 7 NIGHTS FREE ACCOMMODATION at one of the renowned resorts in 3 exotic destinationsBali, Phuket or Africa!

Kim Wilson

02 9833 8881

WW48170

maintenance.colyton@ljhooker.com.au

(02) 9833 8881 | colytonstclair.ljhooker.com.au | 2/30 Day St, Colyton 2

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NEWS FEATURE

BE SAFE, NOT SORRY

WINTER SAFETY CAMPAIGN LAUNCHED The mother of a Sydney boy, who was badly burnt as a toddler, has joined Fire and Rescue NSW (FRNSW) to warn others about fire danger this winter.

Cayden Blake was 12 months old in June 2019 when he walked into an open fireplace, captivated by the flames. The youngster suffered serious burns to his hands, arms and face.

He spent three months recovering in and out of the Burns Unit of The Children’s Hospital at Westmead.

Cayden now dreams of becoming a firefighter to protect others and last week was presented with his own junior FRNSW uniform by the Minister for Emergency Services and Resilience and Minister for Flood Recovery Steph Cooke and FRNSW Commissioner Paul Baxter.

As FRNSW and the NSW Rural Fire Service launch their annual Winter Fire Safety campaign, Cayden’s mother, Tiffany Rapley-Adams, joined the Minister and senior fire officers to urge the public to listen to the crucial safety advice.

Ms Rapley-Adams said she

doesn’t want other parents to go through the pain of seeing their children harmed by fire.

“Cayden, as a toddler, was curious about the “pretty” flames and it only took a second for him to walk into the fireplace,” Ms Rapley-Adams said.

“Please child-proof your fireplaces and if you haven’t already done so, educate your kids about the dangers of fire.”

Ms Cooke said little Cayden is an inspiration, with his determination to protect others through his own experience.

“It was wonderful to be able to help Cayden with his dream of becoming a firefighter by giving him his very own uniform today,” Ms Cooke said.

Commissioner Baxter said the theme for this year’s Winter Fire Safety campaign is “Be Safe, Not Sorry”.

“Please ensure you have a home fire escape plan so your children know what to do if a fire breaks out,” Commissioner Baxter said.

“It’s also important to fireproof your home as much as possible by having working smoke alarms.”

NSW Rural Fire Service Assistant

Western Property

EDITORIAL CONTACT Troy Dodds • 4722 2998 troy.dodds@westernweekender.com.au

ISSUE NUMBER 400

Western Sydney Publishing Group

Commissioner Ben Millington said there are steps residents can take to prevent a fire from breaking out in their home.

“It can be as simple as keeping flammable objects a ‘metre from the heater’, not leaving cooking unattended and not using outdoor heating or cooking equipment inside,” Assistant Commissioner

Millington said.

For information on how to safeguard your home, give FRNSW a call to discuss booking a Fire Safety visit.

Fire crews will come to your home, ensure smoke detectors are in working order and advise on how to best protect your loved ones.

SALES DIRECTOR ARTWORK Chris Pennisi • 0421 121 985 Brooke Noha • 4722 2998 chris.pennisi@westernweekender.com.au artwork@westernweekender.com.au

Instantly view flooring, rug & window furnishing options in your own home!

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WW48092

OUT OF SPACE? CHOOSE SMARTSPACE! 1-13 LELAND STREET, PENRITH SmartSpace Strata Storage Units and Mini-Warehousing For Sale from $145,000 + GST | Lease from $200 + GST/week Ready for occupation in August 2022 • Units range from 30sqm – 121sqm

• Secure gated estate with 24/7 access

• All units with mezzanines

• Ideal for trades people, boat or caravan owners

• Occupy or Invest – appx 7% net return with

and personal storage

For further information, please contact Yal Kaya on 0421 664 666 or visit https://www.smart-space.com.au www.facebook.com/westernpropertymag

Western Property Magazine

WW47805

high capital growth

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BUY OF THE WEEK

COLYTON DELIGHT

88 Shepherd Street, Colyton Offers above $1mil

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2

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Please check website for inspection times Contact: LJ Hooker Colyton | St Clair Mac Honkisz • 0416 949 700

What makes this property stand out?

This near new sun-drenched four-bedroom, premium brick home set on the high side of the street is built on approx.

629 sqm of land and offers a relaxed style and year-round easy living. This residence is perfect for the entertainer with a flexible open plan design and great indoor and outdoor flow.

Who should buy this property?

Large families, upsizing, investors, couples, first home buyers.

What’s the suburb like?

Colyton is a popular, growing suburb that is very family friendly and is conveniently located right in the heart of the western Sydney hub. The home is located within walking distance to quality schools, bus stops, and parks with easy access to the Great Western Highway, M4 and M7.

Boxes from

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REMOVALS • SELF STORAGE • BOX SHOP 142 Old Bathurst Rd, Emu Plains PH 4735 7000 www.hitchens.com.au 6

Western Property Magazine

WW45240

$

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Commercial leasing at the heart of Oran Park.

Work at the Park.

• • • • • •

•

Suites and whole floor opportunities available Over 250 secure underground car spaces Naming rights currently available Construction due for completion early 2023 15 mins to Campbelltown, 45 min to Parramatta & 60 mins to Sydney CBD Under 20 minutes from the new Western Sydney Airport (completion 2026)

Acquire early market share and invest in your business’ future by becoming a part of Oran Park. commercial@greenfields.net.au 02 9043 7500 commercial.oranparktown.com.au

WW47311

Oran Park Town is rapidly becoming the best place to live, work and play in South West Sydney, and your business has an opportunity to meet to the needs of the fastest-growing region in NSW.

*Images are computer generated and indicative only

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7

NOBODY IN THE WORLD SELLS MORE REAL ESTATE THAN RE/MAX.®

Dual Key Dual Key

52+1 3 1+1 2

3+1

2Queensland DUPLEX QLD3

EXCELLENT INVESTMENT: DUAL LIVING! Sale : Contact Agent Inspection: By Appointment GIZZELLE POWELL M: 0428 934 618 E: gizzellepowell@remax.com.au

• Separate entries • Soundproof firewall • Only pay one set of council rates • Turn key home • Two rental income returns, or live in one and rent out the other • Land: 450sqm • Build: 200sqm

3+3 1 + 2+2 3 2 1+11

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QUEENSLAND DUPLEX RENTAL POTENTIAL: $1000 per week 3 year rental guarantee LITSA MELETI Want to know more?

Call me on 0466 969 164 Your Investment Specialist

Potential rent per week $600 - $620

Happy Vendor Litsa is exceptional & lives up to her word I was recommended Litsa by a friend, and she did not disappoint.

She has fabulous knowledge and insight. Litsa made me feel comfortable straight away, with no pressure. She advised me what needed to be done to my place to add value before putting it on the market. She was straight and honest with me and she delivered on everything she told me. Lista even put me in contact with maintenance builders, which I was happy with too. I am extremely happy with the service Litsa provided and I will and have recommended her to others. No hesitation.

Verified by RateMyAgent

Thinking of Selling or Investing?

Please give me a call or SMS Litsa on 0466 969 164

20/40-50 Union Road, Penrith

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2.5

Port Stephens Gwandalan

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44

2 2 2+2 2

Just Listed

GIZZELLE POWELL M: 0428 934 618 E: gizzellepowell@remax.com.au

New York Style Split Level Apartment

Registered Land

Open Home: Sat, 11:15-11:45am

LITSA MELETI Want to know more?

Call me on 0466 969 164 Your Investment Specialist WW46730

Put Our Winning Team to Work 8

Phil Haley 0412 355 020

Western Property Magazine

Litsa Meleti 0466 969 164

Gizzelle Powell 0428 934 618

Paul Tanner 0410 587 553

Victor Borg 0439 755 081

Peter Parker 0408 432 998

www.facebook.com/westernpropertymag

NOBODY IN THE WORLD SELLS MORE REAL ESTATE THAN RE/MAX.®

Address/Suburb lowercase 6 Bass Street, Colyton

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1

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LUXURYlowercase PENRITH APARTMENT Address/Suburb Starting Price $420,000

LITSA MELETI M: 0466 969 164 E: litsameleti@remax.com.au

Land size: 696m2 Open Home: Sat 12:00-1:0pm

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21 Bunyan Road, Leonay

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2+

Just Listed

GIZZELLE POWELL M: 0428 934 618 E: gizzellepowell@remax.com.au

2/34 Australia St, St Marys

LITSA MELETI M: 0466 969 164 E: litsameleti@remax.com.au

232 Parker St, Kingswood

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2

2

Just Listed

A Quiet Piece Of Paradise Land size: 647m2 Open Home: Sat 12:00-12:30pm

3+

Study

2.5

1+1

Just Listed

GIZZELLE POWELL M: 0428 934 618 E: gizzellepowell@remax.com.au

Studio, 1 or 3 Bedrooms 3 minutes walk to station and Westfield Penrith

Ready To Move In Land size: 627m2 Open Home: Sat 1:45-2:15pm

GIZZELLE POWELL M: 0428 934 618 E: gizzellepowell@remax.com.au

7 Angophora Ave, Kingswood 4

2

2+

Just Listed

Convenience and Lifestyle Living Open Home: Sat 10:15-10:45am

Impressive At Every Turn Land size: 655m2 Open Home: Sat 1:00-1:30pm

GIZZELLE POWELL M: 0428 934 618 E: gizzellepowell@remax.com.au WW46731

What’s your Property worth? www.facebook.com/westernpropertymag

Book your FREE Appraisal now with one of our Winning Team on 4732 6007 Western Property Magazine

9

Outer Western Sydney OPEN HOME

OPEN HOME

8 Wills Glen, St Clair

View Property

View Property

You’ve Seen The Rest Now See The Best !!

• Large split level luxurious home on 696sqm block • Multiple living areas & huge games room • 4 double bedrooms upstairs with BIRs • Large two-way bathroom with corner spa bath • Double car garage & cellar/storage room • Outdoor entertaining area & concrete inground pool • Ducted air con and much more . . .

OPEN HOME

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2-Storey Beauty!!

$1,274,950 - $1,374,950

• Situated on a 565sqm block • 5 bedrooms with BIRs & ensuite to the master • Multiple living areas • Spacious brand new kitchen • Fully renovated 3-way bathroom • Covered alfresco area with BBQ & external kitchen • Garage converted to another living space

INSPECT Saturday 4th June at 1:00pm - 1:30pm ADDRESS 8 Wills Glen, St Clair CONTACT Professionals Erskine Park 9834 3555 Angelo Mavris 0425 361 696

FOR SALE

2 Burford Street, Colyton

View Property

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$999,950 - $1,099,950 INSPECT Saturday 4th June at 11:00am - 11:30am ADDRESS 34 Todd Row, St Clair CONTACT Professionals Erskine Park 9834 3555 Angelo Mavris 0425 361 696

16/51-53 King Street, St Marys

View Property

Classy In Colyton On A Corner Block

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INSPECT Saturday 4th June at 12:00pm - 12:30pm ADDRESS 2 Burford Street, Colyton CONTACT Professionals St Marys 9673 4422 Rob Masters 0414 281 291

15/9-13 Rodgers Street, Kingswood

• Ground floor • Ideal location, close to all amenities • Carpet to bedrooms & living • Secure complex • Balcony • Lockable storage unit in the complex • Rental return of $270 - $300 per week

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$549,950 - $589,950

• Large kitchen with stainless steel appliances • Living room with wall of storage cabinetry • Two private under cover balconies • Two allocated tandem car spaces (27m2) • Secure complex with elevator access & intercom • Currently tenanted for $415 per week • Close to all amenities

OPEN HOME

2

INSPECT Contact Agent ADDRESS 16/51-53 King Street, St Marys CONTACT Professionals St Marys 9673 4422 Jessica Grant 0418 745 442

16/1 Glenmore Ridge Drive, Glenmore Park

View Property

View Property

Invest In Kingswood, Smart Idea

3

Set And Forget

$889,000 - $939,000

• 2 x air conditioners • Entertaining area • 2-3 tandem garage • Close to amenities • Fully fenced corner block • 682sqm block • Rental potential up to $550 per week

OPEN HOME

34 Todd Row, St Clair

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Live in Or Invest, Your Choice!!

$389,000 - $425,000

• 2 bedrooms with BIRs & ensuite to main

INSPECT Saturday 4th June at 11:00am - 11:30am ADDRESS 15/9-13 Rodgers Street, Kingswood CONTACT Professionals St Marys 9673 4422 Rob Masters 0414 281 291

• Spacious living & 2 balconies

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1

Contact Agent

• Modern kitchen with gas cooking & dishwasher • Tenant would like to stay on but will move if need be • Underground car park

INSPECT Saturday 4th June at 11:00am - 11:30am ADDRESS 16/1 Glenmore Ridge Drive, Glenmore Park CONTACT Professionals Erskine Park 9834 3555 Wayne Teudt 0412 462 672

• For more information call Wayne on 0412 462 672

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Outer Western Sydney OPEN HOME

19 Vincent Street, Mount Druitt

View Property

39 Jensen Street, Colyton

View Property

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Invest Or Move To Mt Druitt • 3 bedrooms all with built in robes • Split system air-con in the large living area • Renovated electric kitchen • Internal laundry • Single lock-up garage • Large front & backyard • 715m2 block

FOR SALE

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Contact Agent INSPECT Saturday 4th June at 1:00pm - 1:30pm ADDRESS 19 Vincent Street, Mount Druitt CONTACT Professionals St Marys 9673 4422 Rob Masters 0414 281 291

11 Tallwood Place, St Clair

View Property

Calling All Investors Or First Home Buyers!!

• 658sqm block with lots of potential • 4 bedrooms with BIRs • Modern kitchen with stainless steel appliances • Fully renovated bathroom with quality finishes • Separate formal lounge room • Ducted air con • Currently rented to great tenants willing to stay on

FOR SALE

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$799,950 - $859,950 INSPECT Saturday 4th June at 2:00pm - 2:30pm ADDRESS 39 Jensen Street, Colyton CONTACT Professionals Erskine Park 9834 3555 Angelo Mavris 0425 361 696

2/30 Brisbane Street, Oxley Park

View Property

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What A Lovely Street

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Contact Agent

• Located in a lovely location • Entry foyer • 3-way bathroom • Rear covered area • Long lock-up car accommodation • 629m2 block • Rental potential of $480 per week

FOR SALE

OPEN HOME

INSPECT Contact Agent ADDRESS 11 Tallwood Place, St Clair CONTACT Professionals St Marys 9673 4422 Terry Hansen 0418 245 683

27 Catalina Street, North St Marys

View Property

Walk To Train Station • Close to schools, shops, transport & parks • Sits on a clear level block • Offers good potential • 2 bedrooms • Solid original home • 518.5m2 block

One Down And Two Up . . .

• One bedroom downstairs & 2 upstairs • Garage with internal access • Nice courtyard • Located in a small complex of four • Rental potential of $380 per week • Additional parking • Close to amenities

OPEN HOME

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Contact Agent INSPECT Contact Agent ADDRESS 2/30 Brisbane Street, Oxley Park CONTACT Professionals St Marys 9673 4422 Terry Hansen 0418 245 683

12/54 King Street, St Marys

View Property

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$665,000 INSPECT Contact Agent ADDRESS 27 Catalina Street, North St Marys CONTACT Professionals St Marys 9673 4422 Terry Hansen 0418 245 683 Wayne Teudt 0412 462 672

Play Your King St Card In St Marys • Great investment opportunity • Close to local shops, schools & transport • Security system • Floorboards throughout • Beautiful kitchen with gas cooking & dishwasher • Underground security parking • Rental return up to $370 per week

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$399,999 - $429,999 INSPECT Saturday 4th June at 10:00am - 10:30am ADDRESS 12/54 King Street, St Marys CONTACT Professionals St Marys 9673 4422 Rob Masters 0414 281 291

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Name Goes Here Penrith GreaterMember Region and Blue Mountains OPEN HOME OPEN HOME FOR SALE

15 24A Marscay Cam Street, StreetCambridge Kellyville Ridge Park

Big, Beautiful & Brand New!

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• Brand new 3 bedroom, 2 bathroom home • Huge open living design with ducted A/C throughout • 3 double sized bedrooms, stylish ensuite to main • Stunning modern kitchen with island bench • Private U/C tiled pergola area with B/I benches & sink • Close proximity to local shops, schools, sporting fields & parklands

FOR SALE

2/63 Jamison Road, Kingswood

Immediate Investment Opportunity!

• One of only five in a well-maintained boutique complex • Spacious open living design with brand new A/C unit • 3 great-sized bedrooms with mirrored B/Is • Modern galley-style kitchen • 16 year long tenant paying $320 per week • Walking distance to the Nepean Hospital, bus stops and Kingswood Station

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$595,000 INSPECT By Appointment ADDRESS 2/63 Jamison Road, Kingswood CONTACT Professionals Penrith 4725 3100

FOR SALE

Penthouse Living

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$879,950 INSPECT Saturday 4th June at 11:00am - 11:30am ADDRESS 24A Cam Street, Cambridge Park CONTACT Professionals Penrith 4725 3100

26/12-14 Hope Street, Penrith

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• Spacious 2 bedroom penthouse with large rooftop balcony $588,000 • Panoramic views of the Blue Mountains • For investors there is already an excellent tenant occupying the premises INSPECT By Appointment • You won’t find a better priced, near new, penthouse in the area ADDRESS 26/12-14 Hope Street, Penrith • The complex is only 100m from the Nepean Hospital CONTACT Professionals Penrith • Walking distance to all amenities 4725 3100 • Smaller complex equals greater security, privacy & peaceful enjoyment • Call or text Richard on 0409 551 803 for more details or to organise your inspection

penrithprofessionals.com.au 02 4725 3100 253 High Street, Penrith WW45182

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OPEN HOMES & RENTAL PROPERTY GUIDE westernpropertyonline.com.au | facebook.com/westernpropertymag

OPEN HOMES ADDRESS

SUBURB

TIME

OPEN HOMES

PROPERTIES FOR RENT AGENT

SUBURB Saturday 4th June

DESCRIPTION

RENT

AGENT

4 br townhouse

$480pw

9673 4422 St Marys Professionals

3 br home

$460pw

9673 4422 St Marys Professionals

Emu Heights

4 br house

$550pw

4725 3100 Penrith Professionals Real Estate

Emu Heights

4 br house

$580pw

4725 3100 Penrith Professionals Real Estate

3 br home

$490 pw

9673 4422 St Marys Professionals

Jamsiontown

3 br unit

$450pw

4725 3100 Penrith Professionals Real Estate

Jamsiontown

2 br unit

$400pw

4725 3100 Penrith Professionals Real Estate

Kingswood

1 br unit

$230 pw

9673 4422 St Marys Professionals

Kingswood

2 br unit

$320pw

4725 3100 Penrith Professionals Real Estate

Kingswood

1 br unit

$240pw

4725 3100 Penrith Professionals Real Estate

4 br home

$630 pw

9673 4422 St Marys Professionals

Penrith

2 br unit

$270pw

4725 3100 Penrith Professionals Real Estate

Penrith

3 br house

$470pw

4725 3100 Penrith Professionals Real Estate

Penrith

2 br unit

$280pw

4725 3100 Penrith Professionals Real Estate

3 br house

$430pw

4725 3100 Penrith Professionals Real Estate

St Marys

2 br granny flat

$320pw

9673 4422 St Marys Professionals

St Marys

3 br home

$380pw

9673 4422 St Marys Professionals

5 br home

$650pw

9673 4422 St Marys Professionals

Willmot

2 br granny flat

$280pw

9673 4422 St Marys Professionals

Willmot

4 br home

$420pw

9673 4422 St Marys Professionals

CAMBRIDGE PARK Cambridge Park

CAMBRIDGE PARK 51 College St

Cambridge Park

By Appointment Professionals Penrith

24A Cam St

Cambridge Park

By Appointment Professionals Penrith

COLYTON Colyton

COLYTON 2 Burford St

Colyton

10 - 10:30am

Professionals St Marys

39 Jensen St

Colyton

2 - 2:30pm

Professionals Erskine Park

22 Martin Gr

Colyton

2:45 - 3:15pm

Professionals Erskine Park

ERSKINE PARK 18 Mohawk Pl

Erskine Park

10 - 10:30am

Professionals Erskine Park

59 Fantail Cres

Erskine Park

12 - 12:45pm

Professionals Erskine Park

GLENMORE PARK 16/1 Glenmore Park Dr Glenmore Park

11 - 11:30am

Professionals Erskine Park

Erskine Park

JAMISONTOWN

KINGSWOOD

Mount Druitt

15/9-13 Rodgers St

Kingswood

11 - 11:30am

2/63 Jamsion Rd

Kingswood

By Appointment Professionals Penrith

Professionals St Marys

MOUNT DRUITT Mount Druitt

1 - 1:30pm

Professionals St Marys

PENRITH

SOUTH PENRITH South Penrith

PENRITH 26/12-14 Hope St

ERSKINE PARK

MOUNT DRUITT

KINGSWOOD

19 Vincent St

EMU HEIGHTS

Penrith

By Appointment Professionals Penrith

ST CLAIR

ST MARYS

34 Todd Row

St Clair

11 - 11:30am

Professionals Erskine Park

WERRINGTON

8 Wills Glen

St Clair

1 - 1:30pm

Professionals Erskine Park

Werrington

WILLMOT

ST MARYS 12/54 King St

St Marys

10 - 10:30am

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Professionals St Marys

Western Property Magazine

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Western Property Magazine

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Want to feature your products for the home to a large audience?

Call us on 4722 2998 :: ::

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FINANCE & LEGAL Your Guide to finding local financial affairs consultants.

Our finance and legal feature introduces our readers to local advertising businesses. You can use this feature as a guide to search through some of Penrith’s highest offering establishments ranging from lawyers to accounting firms. Our feature has got you covered on all your financial and legal needs. :: ::

WW45132

4722 2998 sales@westernweekender.com.au

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Experienced & Effec�ve Legal Services ABOUT US

WHAT WE DO Malcolm Murray & Associates offer a range of legal services that work with our clients’ needs.

CONVEYANCING -

SET RATE Selling: $1000.00 + GST + Disbursements

·

Debt Recovery Law

·

Insolvency Law

·

Contes�ng a Will

·

Conveyancing in NSW

·

Civil Disputes & Li�ga�on

Our firm is both familiar and experienced with commercial li�ga�on in all state jurisdic�ons.

We specialise in debt collec�on, insolvency law, commercial law and wills and estate law.

Our solicitors provide prac�cal advice to help our clients achieve their objec�ves cost effec�vely.

WW47974

Buying: $1100.00 + GST + Disbursements

We Offer

Malcolm Murray & Associates provide services in many areas of law. We specialise in commercial li�ga�on and debt collec�on.

(02) 4732 4188

admin@malcolmmurray.com.au

4/333 High Street Penrith NSW 2750

SMALL BUSINESS LOANS

WW47096

WHAT WOULD YOU LIKE TO DO TODAY? We can help you move your business forward

TO GROW YOUR BUSINESS

M: 0425 227 818

P: 1300 885 277

W: www.aboveandbeyondfs.com.au NK Business Centre | Suite 8, Level 1 | 450 High St, Penrith

WW47096

www.facebook.com/westernpropertymag CALL 1300

885 277

EMAIL renato@aboveandbeyondfs.com.au

Western Property Magazine

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Christolynn C O N V E YA N C I N G S E R V I C E S ABN 91 252 967 488

BUYING OR SELLING A HOME? WE OFFER: ■ Quality & efficient service at competitive rates ■ Drafting & handling contracts ■ Transfer of property Refer to this ad and get

$100 off our fees!

PO Box 425, Cranebrook NSW 2749 Ph: (02) 4730 6855 M: 0438 596 637 Fax: (02) 4730 6825

Lynne Waldon

lynne@christolynnconveyancing.com.au

Licence No: 1347986

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BROKING BREAKDOWN

ALL EYES ON RBA

WILL RATES RISE AGAIN NEXT WEEK?

MARK STEVENSON BELLPARTNERS.COM

After more than a decade of staying on the sidelines, the Reserve Bank of Australia (RBA) is back in the interest rate game with expectations of monthly rate rises, including at its June meeting on Tuesday.

Responding to steep increases in inflation, the RBA moved last month during the Federal Election campaign when it lifted its cash rate a quarter of a percentage point to 0.35 per cent.

With a new Labor government in place, the central bank is tipped to go even harder next week with a rise of up to 40 basis points, which would boost official rates to 0.75 per cent.

We are still well behind our Kiwi friends across the Tasman after

the Reserve Bank of New Zealand lifted official interest rates there another 0.5 per cent to two per cent, with NZ markets expecting it to reach almost four per cent by the end of 2023.

New Federal Treasurer Jim Chalmers has warned Australians to prepare for financial pain as interest rates rise to deal with “skyrocketing” inflation while revealing unexpected spending pressures baked into the budget by the previous government, who I expect will be blamed for any bad economic news over the next few years.

Chalmers said a cost-of-living crisis would be exacerbated as the RBA lifted interest rates through the rest of the year as it sought

to bring inflation – currently at a 21-year high of 5.1 per cent and expected to rise – under control.

While there has been talk of the RBA cash rate reaching 2.5 per cent, Commonwealth Bank boss Matt Comyn has been more upbeat on the outlook for the economy, and he believes the RBA’s May rate rise is already starting to yield results because consumers are sensitive and responsive to cash rate changes.

Comyn believes the economy remains in good shape due to low unemployment, healthy deposit balances and a still-tight labour market. Unemployment is low and lower than expected wages growth for the March quarter may also temper the RBA’s call.

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