April 2011- Interest Rate Remains on Hold in Australia

April’s meeting of the Reserve Bank – No interest rate rise for Australia today.

The Reserve Bank left rates on hold yesterday 05/04/2011.

There were no further indications of where monetarypolicy is headed for the near term other then re-iterating that the current “mildly restrictive” setting“remained appropriate” given the economic outlook.

Staggering premium hikes in the wake of floods and cyclones….Due to the turbulent start to the year that mother nature bestowed on us, it may be time to shoparound for your building insurance renewals.

Further, don’t think that if you’re in a Strata titled unityou’re safe – you’re in for even more of a shock! The Body Corporate managers are unlikely to goout and obtain the most competitive quote for you.

They’re probably just going to renew with yourexisting insurer. One of my own strata building premiums went up by 180% with the same insurer,and according to my insurance broker I was one of the lucky ones.

The increase puts the bodycorporate budget up by almost $500 per lot per annum. So shop around!

For building insurance onyour strata titled lot you will need to do the leg work yourself to obtain quotes, and once done, askyour body corporate managers to send out a flying minutes to the committee to switch insurers.

The task is only made arduous if you think it is!

Thanks to Wilson Financial for the update.  http://www.wilsonfinancial.com.au/

About Port Douglas

Port Douglas real estate - Real estate in Port Douglas is now sought after the world over. Our passion for where we live stems from Port Douglas being the only place in the world where two natural, world heritage listed sites (the Great Barrier Reef & Daintree Rainforest) exist side by side. If you would like buy or live in your own piece of paradise, please browse our real estate listings http://www.realestateportdouglas.com.au The views expressed in the Port Douglas blogs are not those of Century 21 Port Douglas Real Estate nor the Century 21 franchise.
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