Elite Agent talks to Ray Ellis and other industry leaders about the Cup Day rate rise

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First National Real Estate CEO Ray Ellis said with Australia experiencing its worst housing crisis in decades, banks posting record profits and capital city auction activity down by 40 per cent, he is aligned with the views of Deloitte Access Economist Stephen Smith who believes a rate rise is a mistake. 

Mr Smith stated earlier this week that “Interest rates are not going to be able to address the key sources of inflation, namely rent, electricity and petrol”.

Mr Ellis also recognises that any uncertainty around interest rates negatively impacts buyers and investors decisions to purchase and last week’s auction results are testament to this.