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It's the Real Estate Podcast across every state, city and town of Australia. And welcome to another episode of the Real Estate Podcast available on iHeartRadio and also Spotify and Apple Podcasts or wherever you get your podcasts from. It's a Thursday, the 7th of July for 2022.
Coming up in just a moment, Scott O'Neill is back talking commercial property and also looking at the RBA cash rate rise and what is happening specifically around that in the commercial world of buying property. If you're celebrating your birthday today for the 7th, well, you're in pretty good company. Jeffrey Rush. probably best known for Shakespeare in Love and The King's Speech.
He was born on this day in Toowoomba in Queensland. I didn't know that. He's turning 71. Oh, and Ringo Starr, he's a birthday boy and he's turning 81 years young today. Happy birthday, Ringo. Grab your coffee and switch on your real estate breakfast every weekday morning from 6.30. It's the main centre forecast with propertybuyer.com.au.
All right, let's have a look at your weather around Australia. First, we go to Sydney, expecting more of the wet stuff, more rain around today with a high of 18 degrees. Melbourne, one or two showers developing with 14. Brisbane, blue, sunny skies. That's the pick today. 23 is your forecast high. And in Perth, cloudy but dry and 19 degrees.
Don't forget about the Hunter Valley prize package that we are giving away to one lucky person. Time is running out to enter. You only have, yes, until Saturday to get your entry form in. And Amy is here with some more details. The competition is now open. You can enter the Hunter Valley Prize giveaway. Remember, you need seven secret words.
If you are not a Breakfast Club member yet, you can put in the header, New Breakfast Club Member, and please include your phone number. We need to be able to contact you if you win. You can email us at myrealestatepodcast at gmail.com. Entries close on the 10th of July. Good luck. From first home buyers to property investors and everything in between, every morning on The Real Estate Podcast.
Let's Talk Commercial, a podcast series with Scott O'Neill. Well, another cash rate rise by 50 basis points to 1.35% by the RBA on Tuesday. It also increased the interest rate on the exchange settlement balances by 50 basis points, also to 1.25%.
Now, we were expecting this, but it doesn't make it any easier to swallow, particularly for first-home buyers, especially who have borrowed very heavy to acquire that first home. In the commercial property space, some people... have decided to cash out of some of their residential portfolios if they've got a big enough one to move into the commercial sector.
Let's welcome in Scott O'Neill because it is a Thursday from Rethink Investing and good morning Scott, welcome back. Good morning Craig, good to be back. You are coming to us this morning from Greece. What are you doing there? Back in 2019, we bought a house in Greece. My wife's half Greek, so she grew up on an island over there, so we decided to buy a house.
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