April ended with Australian shares lower, inflation higher and markets expecting another RBA rate increase. Together with elevated oil prices and geopolitical uncertainty, these conditions reinforced the value of a diversified strategy and sufficient liquidity.
The market picture at the end of April 2026
The S&P/ASX 200 closed April at approximately 8,666 after eight consecutive declining sessions. The RBA cash rate was 4.10%, Australian CPI had risen to 4.6%, Brent crude oil was around US 111 p e r b a r r e l a n d g o l d w a s a p p r o x i m a t e l y U S 4,640 an ounce. The Australian dollar was near US71.5 cents.
Figures of this kind describe a moment in time. They do not, on their own, provide a reason to change a long-term investment plan.
Inflation returned to the centre of the discussion
The rise in CPI from 3.7% in February to 4.6% increased expectations of tighter monetary policy. At the time, markets assigned a 70–80% probability to a 0.25 percentage-point RBA increase on 5 May.
Higher inflation affects more than interest rates. Elevated fuel prices can flow into transport, food and other household costs. For retirees, this makes it useful to compare actual spending with the income assumptions built into a plan.
- International developments and Australian investors
- Oil and the Middle East
Disruption in the Strait of Hormuz kept Brent crude above US$100. Although a ceasefire had broadly held since early April, diplomatic progress remained limited. The connection between oil, inflation and household costs meant the situation remained relevant to Australian investors.
US rates and valuations
The US Federal Reserve held its policy rate at 3.50–3.75%, with four dissenting votes highlighting internal disagreement over inflation. US equity valuations had also risen, with the S&P 500 forward price-to-earnings multiple above 21 times. Strong markets can continue, but higher valuations generally leave less room for disappointment.
Regional economic security
Japan and Australia were preparing an economic-security agreement covering energy, rare earths, food and critical commodities. The agreement aimed to reduce supply-chain vulnerabilities and potentially broaden demand for Australian exports.
Property is cyclical, not uniform
Australian housing conditions were notably two-speed. Perth led quarterly growth above 7%, while Brisbane, Adelaide and Darwin also advanced. Sydney and Melbourne recorded small declines during the March quarter as affordability, higher rates and rising listings weighed on demand.
The contrast is a reminder that there is no single Australian property market. Location, financing, rental yield, tax and the role a property plays in a broader plan all matter.
The 18.6-year property-cycle idea
Some researchers describe an approximately 18-to-19-year property cycle driven by land values, credit availability and sentiment. The proposed pattern moves from recovery and steady growth through a mid-cycle correction and later speculative phase.
It is a framework rather than a dependable timing tool. Property cycles do not remove the need to assess cash flow, debt, diversification and personal time horizons.
- Four practical financial checks
- Review super contributions before 30 June
The concessional contribution cap for 2025–26 was $30,000. Eligible people may also have been able to use unused concessional cap amounts carried forward from earlier years. Contributions need to be received and processed by the fund before the relevant deadline.
Read more than the balance on a super statement
Check investment returns net of fees, insurance premiums, employer contributions and investment-option allocations. Each helps show whether the account remains aligned with its intended role.
Keep beneficiary nominations current
Because super does not automatically form part of an estate, a lapsed or outdated nomination can produce an unintended outcome.
Pause before acting on an inheritance
An inheritance is generally received tax-free in Australia, but income subsequently earned on invested funds may be taxable. Before allocating the money, consider tax, super contribution limits, debt and the role of the funds in the broader plan.
Cash reserves and measured decisions
For retirees drawing income, holding several years of expected payments in cash and defensive assets may reduce the need to sell growth assets after a market fall. The purpose is not maximum short-term return; it is to support continuity and decision-making capacity.
If inflation, interest rates or property conditions have changed the assumptions behind your plan, contact Acquira Wealth Partners for a considered review of your circumstances.
Important information
This article has been prepared by Acquira Wealth Partners for general information and educational purposes only. It does not constitute financial product advice and has not been prepared taking into account your objectives, financial situation or needs. Before acting on any information, consider whether it is appropriate for your circumstances and, if necessary, seek appropriate professional advice. Past performance is not a reliable indicator of future performance. Market data is approximate and sourced from publicly available information as at the end of April 2026.
Reine Clemow is an Authorised Representative (No. 461670) of Acquira Wealth / Acquira Wealth Pty Ltd is a Corporate Authorised Representative (No. 001319892) of GPS Wealth Ltd | AFSL 254 544 | ABN 17 005 482 726 | www.gpswealth.com.au | Email Disclaimer Acquira Wealth Pty Ltd is a Corporate Authorised Representative (No. 001319892) of GPS Wealth Ltd, AFSL 254 544, ABN 17 005 482 726.
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