Daily Buzz: Wednesday, 20 March
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PropertyBuzz, your daily dose of property news.
The RBA delivers its March cash rate decision, architects warn that Brisbane Olympics infrastructure must not let down future generations, and tenants are facing dangerous summer temperatures.
Welcome to Property Buzz! I’m Orana Durney-Benson.
Today is Wednesday the 20th of March, and the Reserve Bank of Australia has decided to maintain the cash rate at 4.35%.
– This decision was widely anticipated by economists, who noted that this year will be a tough one for Australian mortgage-holders.
– Sally Tindall from RateCity predicted that the RBA’s next move is likely to be a rate decrease, while others expect another hold.
– Mathew Tiller from LJ Hooker believes the decision will boost market confidence and stability with a potential boost in activity anticipated in the autumn.
Up in Queensland, four leading design institutes have stated that the infrastructure for the Brisbane 2032 Olympic and Paralympic Games must provide long-term benefits for local residents.
– The joint reminder was issued by the Australian Institute of Architects, the Australian Institute of Landscape Architects, the Design Institute of Australia, and the Planning Institute of Australia.
– They stated that unlike previous Games, the Brisbane 2032 Olympics will be hosted across various sites, requiring quality urban design to connect the different venues and precincts.
– If the developments fare well, the four institutes note that the Olympics could leave an enduring legacy for residents of Brisbane and south-east Queensland.
Meanwhile, a report from Better Renting has found that renters in New South Wales, the Northern Territory, Queensland, and Western Australia faced dangerous indoor temperatures last summer.
– The study, conducted during one of the hottest summers on record, found indoor temperatures were higher than outdoors over a third of the time.
– The advocacy group recommended that governments introduce minimum energy performance standards for rental homes, including features to maintain a healthy and comfortable temperature.
– The report also called for an end to no-grounds evictions, allowing renters to advocate for themselves without fear of retaliation.
That’s it for today.
See you again tomorrow, 21 March, for your daily dose of Property Buzz.
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