Potential home buyers had better snap up what’s on the market in the near future as according to online bookmaker sportsbet.com.au, 2017 will see an end to the record low cash rate.
- Sportsbet have opened 2017 RBA betting markets with two changes the $2.90 favourite.
- It’s $1.75 that the next rate movement will be a raise and $2.00 for a decrease.
- The cash rate ending 2017 between 2.01% and 2.5% is the $2.75 favoured option.
The bookie is betting that there’ll be at least two changes to the cash rate next year and that when the rate moves next, it will be an increased movement at odds of $1.75.
February’s decision is likely to remain unchanged at odds of $1.10 but by year end, Sportsbet are tipping a cash rate of between 2.01% and 2.5% at odds of $2.75.
Also being tipped at the end of 2017 on the financial markets are an ASX200 level of between 5000 – 5249 at odds of $2.75 and the AUD/USD to be at between 75.00 – 79.99 at odds of $3.00.
“The odds aren’t great for potential home buyers in 2017 so expect auction clearance rates to peak over the coming months as buyers rush to take the record low rate before it’s gone,’’ said sportsbet.com.au’s Will Byrne.
Markets courtesy of sportsbet.com.au
Number of rate changes in 2017
$3.00 Zero
$5.00 One
$2.90 Two
$4.00 Three
$11 Four or More
RBA February Decision
$34 Decrease by 0.26 or more
$11 Decrease by 0.01 – 0.25%
$1.10 No Change
$7.50 Increase by 0.01 – 0.25%
$21 Increase by 0.26% or more
Direction of next Rate change
$1.75 The Rate will increase
$2.00 The Rate will decrease
Size of biggest change in 2017
$1.05 0.25%
$8.50 0.5% or higher
RBA Rate at the end of 2017
$3.00 Under 1.5%
$4.00 1.5% – 2.0%
$2.75 2.01 – 2.5%
$6.00 2.51% – 3.0%
$11 3.01 – 3.5%
$21 over 3.5%
AUD/USD at the end of 2017
$11 Under 65.00
$7.50 65.00 – 69.99
$6.00 70.00 – 74.99
$3.00 75.00 – 79.99
$4.00 80.00 – 84.99
$6.00 85.00 – 89.99
$5.00 90.00 or higher
ASX200 at the End of 2017
$6.00 Under 4500
$5.00 4500 – 4749
$4.00 4750 – 4999
$2.75 5000 – 5249
$5.00 5250 – 5499
$11 5500 – 5749
$16 5750 or higher