LETTER | The inevitable Chicken Littles
letter to the editor
Dear Editor,
I’ll begin with a full disclosure: I’m an old white male and fully licensed real estate agent of over 28 years. The following thoughts and comments are mine alone. Done.
Now while I’ve enjoyed reading articles in Newsport for many years, this is my first submission, instigated by a recent article relating to the future of our local property market.
These “Chicken Littles” cite recent reports by the reserve bank, financial institutions and economists forecasting a “possible” decline in prices later in the year.
I ask myself, have they actually read the RBA’s Statement on Monetary Policy in full or simply reading and regurgitating a headline?
These parties seem to use all the same words and phrases; interest rate hikes, inflationary pressures etc.. What they don’t seem to mention is the RBA stated while price growth has eased in the capital cities it has continued to remain strong elsewhere.
I would also highlight the following points for consideration;
- Port Douglas itself is a peninsula of land - it’s surrounded by water on three sides and it isn't getting any bigger.
- The federal government has just announced they will be putting forth legislation for a reinsurance pool for the risk of cyclones and related flood damage to be backed by a $10 billion annually reinstated Commonwealth guarantee. This is absolutely fantastic news for far north property owners by reducing insurance premiums.
- Inflationary pressures being experienced by some other countries are more to do with those governments policies - ie: reduction in energy production and pouring endless borrowed money into already overheated economies.
- While COVID has caused immeasurable loss, pain and craziness the world is beginning to get on with life again.
- International borders are set to re-open in another week - hello tourists!
- The government has just announced a dollar for dollar deal with the four major airports (Cairns, Gold Coast, Brisbane & Sunshine Coast) totalling $200 million to channel international tourists into Queensland.
- One of our biggest events of the year promoting Port Douglas is about to return - CARNIVALE!
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Tony Soltys is a real estate agent with Ray White Port Douglas