Our Backyard – Aireys Inlet

Welcome to Aireys Inlet

It was interesting to hear this week that real estate had overtaken mining to become Australia’s most profitable industry.

Real estate provided $8.6 billion of taxable profit in a quarter, ahead of the old mainstay of mining which produced just $3.6 billion.

The latest figures from the Bureau of Statistics came amidst the debate about Labour’s plan to change negative gearing tax breaks.  Two years earlier mining profits were five times those of real estate.

The Reserve Bank of Australia had its monthly board meeting this week and it resolved to leave the official cash rate at 2%, in line with the overwhelming majority of market predictions.  The official cash rate has been at 2% since May 2015.

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James Worssam

0418 585 815

james@greatoceanroadrealestate.com.au

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