WATCH: 8 July, 2022 Whitsunday Weekly E-News

Annette Neil here from PRD Whitsunday.

As you can see behind me the weather has well and truly cleared here in the Whitsundays. Our team had a wonderful afternoon yesterday out on the water, watching the sunset from North Mole Island back towards Airlie Beach. With a beautiful afternoon, after some really cold weather we have been having here. So its sunny again as your can see behind me, maybe its time for a visit.

This week the RBA raised interest rates 50 basis points .5% as they did last month. A little bit of shock there around the level of that interest rate rise. Its probably an ideal time to look at if your mortgage is with a bank, it may not being giving you the best deal, maybe you need to shop around, we highly recommend that. The effect of those interest rate rises are going to have on the price of properties and also the volume that's selling, maybe the capital growth, remains to be seen this stage.

We have seen that Corelogic has reported that both Sydney and Melbourne, as well as Hobart for the first time have had capital reductions, so less than 1% or about 1% there, so its not a massive reduction in prices that we are seeing in those towns.

South Australia is performing really well, out performing everywhere else in Australia at this point in time. Adelaide and regional South Australia is extremally strong. We are still seeing quite strong prices also in Brisbane and Perth with positive price growth there as well.