According to economists, it is likely that the Australian central bank will be forced to raise the key benchmark lending rate twice before June. A hike in March with one following in June is quite likely. The key behind the rate hike is inflation, which is pushing the fastest rate for 16 years.
For property buyers here this makes investments even more costly, something that is already difficult to face with the rising value of properties in this part of the world.
In other news, the Australian property market may just get a change in the way that people shop for homes. A new website has been developed which encourages people to place their own home on the website and make their unique web page about their home.
Other visitors can then visit the page, comment on the property and even send private messages to each other. It offers an opportunity for property owners to test the waters before putting their home on the market.
The website, lovethatplace.com.au offers an outstanding opportunity for investors too. Investors can help see potential property leads before they hit the market, allowing them also to determine what the fuelling source behind the valuing of property is.
According to website founder Wayne Rose as reported in Scopical.com.au, "People can display their property for free as well as browse the site, rate properties and send and receive communication. We will be providing referrals to people for local real estates but we won't be selling their details."
