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It's been a busy day for property news, and in this shorter, reactionary episode, Nick and Kelvin first discuss the Reserve Bank's tough-talking monetary policy statement, then quickly cover off the announcement that first home grants have been canned.

In a nutshell, inflation is still a problem, and OCR cuts seem off the table until 2025 - meaning 'higher for longer' mortgage rates too.

Regarding first home grants, the decision will be disappointing for some would-be first home buyers (FHBs), but there are still lots of other factors in their favour, and the market still looks generally positive in the next little while for FHBs.

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