A butcher who works 80 hours a week desperately hope that cutbacks encourage customers to spend more on his high -quality meat products instead of going to the supermarket.
Chris Jarvis took over GJ's organic quality meat in Labrador, at the Gold Coast, three years ago, shortly before the aggressive tariff increases from the Reserve Bank.
And although he welcomes the possibility of a rate reduction on Tuesday, he believes that the customer's demand will only rise if the RBA leaves several times this year.
“If they lower the RBA interest rates, it would be very fantastic, only for families, especially that my butcher shop would come and spend a little more money because they know that the quality is a little better,” he said Daily Mail Australia .
'They will start eating much better – they might give Aldi wrong for a while.
“If people have more money, it's good for small companies.”
But the business owner, who starts at 4 hours six days a week, said that it would cost more than one rate reduction, which would reduce the average monthly mortgage repayments by $ 100 on a typical mortgage of $ 600,000.
“I don't think it's going somewhere, it will just evaporate to be honest with you,” said Mr. Jarvis.
Chris Jarvis took over GJ's organic quality meat in Labrador, at the Gold Coast, three years ago, shortly before the aggressive tariff increases from the Reserve Bank
'It must be more – you know how far $ 100 is going. It will certainly help, but I think it will also fall through their fingers. '
Jarvis specializes in organic meat without hormones, additives and preservatives, and also makes beef jerky on the site.
The 38-year-old butcher with 25 years of experience in the market has benefited from customers who buy quality meat and cook at home instead of going to restaurants.
But he has seen four other butchers in Labrador and Southport, because the 13 rate of the Reserve Bank in 2022 and 2023 saw customers cut back on their expenses.
“People immediately withdrawn because of these interest rates,” he said.
Jarvis, who employers one butcher and six employees to serve customers, bought a duplex with three bedrooms last year on a few blocks of his store for $ 680,000, with a mortgage of $ 535,000.
The former street child who became a businessman said that paying advice and water rates and commercial rent for his store was a juggling on top of his monthly mortgage repayments of $ 2,900.
Rate reductions would help him to have more on the couch for unexpected house repairs such as a cracked wall or a hot water problem.
Even with tariff reductions, Rebecca Kerr, the Chief Operating Officer of the Real Estate, said that the house price increases in Brisbane and the Gold Coast were probably more modest compared to last year's double digit increases, because the intake of the migration between states delayed
“I'm just entering carefully because I would rather have a little money in the bank than throwing it at the mortgage,” he said.
The Big Four Banks all expect that the reserve bank will lower interest rates on 18 February, which is the first exemption for borrowers since November 2020.
Westpac and the Commonwealth Bank predict four cuts in 2025, which would reduce the RBA -Contant rate to 3.35 percent of 4.35 percent.
Even with tariff reductions, Rebecca Kerr, Chief Operating Officer of Little Real Estate, the house price increases in Brisbane and the Gold Coast were probably more modest compared to last year's double digits, as the inflow of interstatical migration delayed.
“It will be more modest,” she told Daily Mail Australia.
“They have had such a large increase – while they still get migration from the southern states, it will not be at the same level.”
This year Mrs Kerr predicts 5 percent house price increases for Sydney and Brisbane, because prices at the Gold Coast rose by 4 percent, with fewer people who work from home.
“It will have an impact on some of the lifestyle areas, while people want to go back to the larger cities,” she said.
