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A select group of Loan Market brokers has received a valuable insight into the key economic drivers for NSW from the chief economist of a non-major bank.
Held last Friday at Establishment in Sydney, Loan Market’s bi-annual economic forum – run in partnership with real estate giant Ray White – featured St George Bank’s Hans Kunnen, whose key message was that interest rates will stay lower for longer.
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“Interest rates will not go up this year,” he said, “but if inflation stays low, it’s likely that another cut will come.”
Mr Kunnen also discussed the effects of immigration, unemployment and exchange rates on the property market, as well as housing supply and foreign investment.
Loan Market’s director for NSW, Michael Karpathakis, said the forum is designed to ensure its brokers have a firm grasp of key economic indicators in a changing environment.
“There is a lot of good stuff happening in the NSW economy,” he said. “Hans showed us there’s growth in jobs, we’re spending on infrastructure, we’re re-zoning land, and Loan Market and Ray White are in two thriving industries.”
