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Industry Market Wrap
CPI figures released by the Australian Bureau of Statistics this week now show inflation has slipped to its lowest level in ten years. Headline inflation was at 1.3 percent over the year ending September 2009, however the Reserve Bank’s preferred measures of inflation (the trimmed mean and weighted median CPI) increased by 3.2 percent and 3.8 percent respectively over the year which is outside the RBA’s comfort zone of 2 to 3 percent. The CPI figures were slightly higher than most economists expected and the consensus is that interest rates will rise a further 25 basis points on Melbourne Cup day. 

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Global warming may heat up Tree Change markets
A Parliamentary report on global warming released this week highlights the uncertainty surrounding coastal property markets. Some prospective Sea Changers may become Tree Change converts.

Tree Change properties, often considered the poor cousin to Sea Change properties, may be given an unexpected boost, with a recent Parliamentary report highlighting potential issues associated with properties located close to the water due to global warming. The report, released this week by the House Standing Committee on Climate Change, Water, Environment and the Arts and titled ‘Managing our coastal zone in a changing climate’ suggests that a one centimetre rise in sea levels could lead to at least one metre of erosion on the shoreline, making coastal properties vulnerable to flooding, erosion, high tides and surging storms.