RBA cuts interest rate to 1.25%
The Reserve Bank of Australia (RBA) on Tuesday lowered the cash rate by 25 basis points to 1.25% to support employment growth and provide greater confidence that inflation will be consistent with the medium-term target.
NAB lowers fixed-loan rates
National Australia Bank (NAB) announced on Thursday that it is discounting some of its fixed-rate mortgages. However, these markdowns are not being offered to property investors.
Auction volumes down, clearance rates up
There were 1,654 homes that went under the hammer across the combined capital cities with a preliminary clearance rate of 61.5% coming into the first week of winter.
