WHITSUNDAY E-NEWS REAL ESTATE: 1st week of November

Hi, Annette Neil from PRD Whitsunday, with this week's update.

This week the Reserve bank of Australia held interest rates once again. However, this Tuesday, at record low levels, they did release a little bit of information around the monetary policy moving forward.
They're anticipating GDP, which stands for gross domestic product, the monetary value of all goods and services created within Australia.
They're predicting a gain in the December quarter and finish quite strongly for the year.
This is the primary indicator of how our economy is going. They are expecting growth in 2022 of 5.5% and then a further two and a half per cent in 2023.

It will certainly be back to pre-covid levels reasonably soon, which is encouraging for our economy.
The monetary policy that the government went with and the reserve bank pre-covered was to build a bridge to get from where we were over the chasm to the other side.
They're saying they see the other side in sight and that our economy is once again growing, which is a beautiful thing to see.

We're looking at unemployment and anticipating that by the end of 2022 that we'll be down as low as four and a half per cent unemployment nationally, and then through to the following year, that's potentially down to four per cent, which is the lowest we will have seen since the early 1970s

They are pretty impressive numbers and good vital signs for our economy.

Lots more information coming next week about the way forward for our economy.