{"id":558457,"date":"2026-03-23T05:45:11","date_gmt":"2026-03-23T05:45:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/558457\/"},"modified":"2026-03-23T05:45:11","modified_gmt":"2026-03-23T05:45:11","slug":"rba-governor-spent-2m-on-coastal-home-on-same-day-as-rate-rise","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/558457\/","title":{"rendered":"RBA governor spent $2m on coastal home \u2013 on same day as rate rise"},"content":{"rendered":"

Updated March 23, 2026 \u2014 3:41pm,first published 2:53pmSave<\/p>\n

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The Reserve Bank of Australia\u2019s decision to ratchet up interest rates by 25 basis points on March 17 will no doubt have turned the screws on household budgets across the country.<\/p>\n

But not so for Reserve Bank governor Michele Bullock herself, it seems. On the same day the RBA decided to lift rates, Bullock settled on a $2.05 million purchase of a new four-bedroom home along with her husband, Ian Bullock. There is no mortgage on the title.<\/p>\n

The couple are listed as \u201cjoint tenants\u201d according to settlement documents seen by this masthead, on a home a stone\u2019s throw from the water in Yamba, a town on the NSW North Coast an hour-and-a-half\u2019s drive south of Byron Bay.<\/p>\n

\"ReserveReserve Bank governor Michele Bullock.Louise Kennerley<\/p>\n

In a listing for the property, which according to Domain was sold by private treaty, the home was described as one for \u201cthe discerning buyer\u201d, and sits at an address that \u201cis a testament to luxurious coastal living\u201d.<\/p>\n

\u201cDesigned for absolute comfort no matter the climate, the home features ducted air-conditioning, ceiling fans, louvre windows, and outdoor heating to the entertaining area,\u201d the listing reads.<\/p>\n

\u201cAll four bedrooms are incredibly generous in size, with the main bathroom being ideally positioned to service bedrooms two and three. But the indulgent parent\u2019s retreat is a sanctuary all of its own. Featuring an oversized walk-in robe that exudes opulence and practicality, and a well-appointed ensuite, this private haven offers a space to relax, recharge, and revel in the luxury you deserve.\u201d<\/p>\n

\"TheThe popular holiday town of Yamba.iStock<\/p>\n

Of course, we were eager to hear from Bullock on whether she has any concerns over the perception that she might be a little out of touch, given the financial strain felt by ordinary Australians across the economy. But the Reserve Bank declined to comment.<\/p>\n

Bullock, however, did say on the day of the rise that the decision to lift rates would be tough news for people with a mortgage.<\/p>\n

Start the day with a summary of the day\u2019s most important and interesting stories, analysis and insights. Sign up for our Morning Edition newsletter<\/a>.<\/p>\n

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\"JohnJohn Buckley<\/a> is a CBD columnist for The Sydney Morning Herald and The Age.Connect via email<\/a>.\"FionaFiona Byrne<\/a> is the CBD columnist for The Age and The Sydney Morning Herald.Connect via email<\/a>.From our partners<\/p>\n","protected":false},"excerpt":{"rendered":"Updated March 23, 2026 \u2014 3:41pm,first published 2:53pmSave You have reached your maximum number of saved items. Remove…\n","protected":false},"author":2,"featured_media":558458,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[64,63,44],"class_list":{"0":"post-558457","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-australia","8":"tag-au","9":"tag-australia","10":"tag-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/558457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=558457"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/558457\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/558458"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=558457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=558457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=558457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}