As you may well have already heard the Reserve Bank met and decided to lift interest rates by a quarter of one percent (.25%). While this was expected it still is never pleasant. General consensus between most reputable economic forecasters and Journalists seems to be that we will have one more rate rise this year. Are they guessing? Who knows, but we can only listen to the experts for our guidance.

Always keep things in perspective and remember, bad news sells more papers than good news, so if a negative twist can be put on anything they often will.

The Western Australian economy continues to boom. After massive house price growth over 2005 to 2006, prices are now consolidating. Economic conditions are expected to remain favourable.