The Australian economy could be set for a ‘soft landing’ in 2024
Interest rates down, unemployment up, chief economist for Australia’s biggest lender forecasts
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Borrowers could be in for cost of living relief in the new year with the country’s biggest mortgage lender predicting a fall in the cash rate next year.
After a rise of more than 4 percent in 18 months, Commonwealth Bank chief economist Stephen Halmarick has predicted the Reserve Bank of Australia will drop the cash rate by 75 basis points, starting in September 2024 as inflation shows signs of moderation.
“Looking ahead, 2024 will have more than its fair share of risks and challenges, particularly geopolitical risks as well as the United States presidential election,” Mr Halmarick said. “Despite these obstacles, the Australian economy remains in relatively good shape.”
Noting that the RBA could well have negotiated the ‘narrow path’ it has attempted to navigate in 2023 between the desire to return the rate of inflation to a more manageable 2 to 3 percent range and the need for the economy to grow, Mr Halmarick said the outlook for 2024 was positive overall.
“The good news is that the pace of global inflation clearly begun decelerating around mid-2023 and we expect further deceleration in 2024, however markets will also focus on the balance between returning inflation to 2 per cent targets, without doing too much damage to labour markets,” he said. “CBA is forecasting the annual rate of inflation back at 3 percent at the end of 2024, well ahead of the RBA’s current forecast and closer to the Commonwealth government’s latest forecast.”
The CBA also predicted the unemployment rate would increase slightly, up to 4.5 percent by the end of next year, while net migration will slow, taking pressure off the housing market. Housing prices are forecast to rise by 5 percent in 2024.
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Now selling from Level 9, this new tower pairs skyline and Harbour Bridge views with the quiet of Ismay Reserve, and pricing from just $560,000 for one, two and three-bedroom residences.
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The skyline at Sydney’s Homebush is about to change, and The Maybelle is leading the charge.
The new residential tower has officially opened sales from Level 9, offering one, two and three-bedroom residences priced from $560,000, with move-in slated for late 2026.
What sets The Maybelle apart is its position. Residents on higher floors will wake up to sweeping city skyline and Harbour Bridge views.
The building overlooks the leafy calm of Ismay Reserve, giving owners the rare combination of a genuine outlook and a sense of green space, without compromising on either.
Location is doing plenty of the heavy lifting, too.
The Maybelle sits moments from the popular Homebush dining and lifestyle precinct, and is well connected to Strathfield, Sydney Olympic Park and the Sydney CBD, making it a strong option for buyers who want city access without giving up a slower pace at home.
For buyers considering their options in Sydney’s inner west, the appeal is straightforward: a genuine outlook, a connected address and an entry price that remains competitive for the location.
Registrations are now open for exclusive launch access. Get VIP access today.
Be the first to view floor plans, pricing, and availability before they are made public.
Register now at themaybelle.com.au or call 1300 066 292.
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