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RBA Governor Michele Bullock Buys $2m Home in Beach Town on the Same Day Aussies Suffered Rate Rise: 'Revel in the Luxury You Deserve'
Michele Bullock and her husband bought a $2.05 million waterfront home with no mortgage on the same day the Reserve Bank of Australia raised interest rates by 25 basis points.
- On March 17, 2026, Michele Bullock and her husband settled a $2.05 million four-bedroom home in Yamba, the same day the RBA raised the cash rate by 0.25 percentage points to 4.10 per cent.
- The RBA said it increased rates because of high inflation and an oil‑price spike linked to the war in the Middle East, while Australia's big four banks and economists forecast further rate pain.
- Settlement documents list the couple as joint tenants and the title shows no mortgage on the property, described as 'luxurious coastal living' with four bedrooms, two bathrooms, and a wine cellar.
- The Reserve Bank of Australia declined to comment while Michele Bullock said the rise would be 'tough news' for people with a mortgage, drawing scrutiny amid household budget pressures.
- The RBA's disclosure shows Bullock owns three other Sydney properties and earns $1.195 million in her taxpayer-funded role, fueling transparency debates amid the March rate hike.
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RBA boss buys $2m luxury holiday house on rate hike day
Reserve Bank governor Michele Bullock settled on a $2 million holiday home on the same day the RBA increased the cash rate.Bullock and her husband Ian, who jointly own two other investment properties, bought the four-bedroom home in Yamba in NSW's Northern Rivers region on February 3 and finalised the transaction on the day the RBA board hiked interest rates to 4.1 per cent.The purchase was noted in Bullock's updated declaration of material inte…
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Coverage Details
Total News Sources11
Leaning Left4Leaning Right3Center2Last UpdatedBias Distribution45% Left
Bias Distribution
- 45% of the sources lean Left
45% Left
L 45%
C 22%
R 33%
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