WATCH: 16 June, 2022 Whitsunday Weekly E-News

Hi, Annette from PRD Whitsunday.

This week I'm down here at Cannonvale Beach, on a little bit of an overcast day, but the beautiful warmth has made a come back to North Queensland. We have shivered through some icy cold temperatures last week especially in Proserpine where it was reported some mornings were in the single digits. Rest assured this only happens for a short period of time here in the Whitsundays and now we are back to our beautiful warm days.

On the real estate front, we are still seeing the market is holding fairly steady, with a lot of demand on units, that has not changed at all. Houses there are not as many on the market, which is quite interesting - biggest issue that there is no where for people to move to, if they do sell their homes. There are no rentals at all, something I have spoken to you about at length.

Still there's a lot of talk about interest rate rise and inflation. This morning on the news it was said that United States has put their interest rates up significantly, so it will be interesting to see what happens as a ripple effect that flows through the world and the world markets, obviously they do have one of the bigger economies in the world and they do have a lot of influence on what will happen here in Australia.

Also announced that the Fair Work Commission has agreed to the minimum wage increase. This is welcomed news for the minimum wage workers to help with the increase cost of living. However, it may need to be passed onto consumers ultimately, as business owners will need to fund this and with the rising cost on business, we will have to wait and see what happens.