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Vol 11. No.80

Economic Overview

	Current	+/-	Movement
$AUS/$US	92.60	+0.62
Cash Rate	4.25	Steady
90 Day Bill	4.64	+0.10
10 Year Bond	5.730	+0.015
ASX 200	4785.6	-37.2

National Property

A new green house revealed (AFR Pg.55)

• Delfin Lend Lease in conjunction with Henley Properties Group and the CSIRO have revealed Australia’s first zero-emissions home in Laurimar, north of Melbourne.
• The home will consume 70% less energy than a traditional dwelling of the same size due to double glazed windows, improved insulation and orientation.
• A central control hub will monitor the emissions plus the energy and water consumption levels.
• The home may also potentially be carbon-positive as solar panels will generate the houses own renewable energy on site.
• The home will cost an additional $40,000 when compared to a similar six-star-energy-rated house. The savings are estimated to be approximately $250 per month.

Westpac Office Trust update (AFR Pg.54)

• Westpac Fund Management has entered into a Scheme Implementation Agreement by Mirvac to purchase all Westpac Office Trust units and instalment receipts.
• Unitholders will vote on the acquisition of the $1.1 billion portfolio in July.

Cash rate update (AFR Pg.8)

• According to the International Monetary Fund (IMF) the RBA will need to increase the official cash rate to 5% by the end of the year to keep monetary policy at reasonably neutral levels.
• The IMF believes a 0.75% increase will not hinder growth or stimulate activity.
• Access Economics has commented that the cash rate will have to be at 6% by the end of 2011 due to the strength of the recovery and the resources boom.