The one lower this hardworking butcher is admittedly hoping for – and the procuring behavior he desires Aussies to vary

A butcher who works 80 hours per week is desperately hoping rate cuts encourage customers to spend more on his quality meat products instead of going to the supermarket.

Chris Jarvis took over GJ’s Organic Quality Meats at Labrador, on the Gold Coast, three years ago, shortly before the Reserve Bank’s aggressive rate hikes.

And while he welcomes the possibility of a rate cut on Tuesday, he believes customer demand will only increase if the RBA cut rates several times this year.

‘If they do lower the RBA interest rates, it would be really fantastic just for families especially that would come into my butcher shop and spend a little bit more money because they know the quality is a bit better,’ he told Daily Mail Australia.

‘They will start eating a lot better – they might absolutely give Aldi a miss for a while.

‘If people have more money, it’s good for small business.’ 

But the business owner, who starts at 4am six days a week, said it would take more than one rate cut, which would reduce average monthly mortgage repayments by $100 on a typical $600,000 mortgage.

‘I don’t think it will go anywhere, it will just evaporate to be honest with you,’ Mr Jarvis said.

Chris Jarvis  took over GJ’s Organic Quality Meats at Labrador, on the Gold Coast, three years ago, shortly before the Reserve Bank’s aggressive rate hikes

‘It needs to be more – you know how far $100 goes. It will help for sure but I think it will fall through their fingers as well.’

Mr Jarvis specialises in organic meat free from hormones, additives and preservatives, and also makes beef jerky on the premises.

The 38-year-old butcher with 25 years’ experience in the trade has benefited from customers buying quality meats and cooking at home instead of going out to restaurants.

But he has seen four other butchers close in Labrador and Southport as the Reserve Bank’s 13 rate rises in 2022 and 2023 saw customers cut back on their spending.

‘People have pulled right back because of these interest rates,’ he said.

Mr Jarvis, who employers one butcher and six staff to serve customers, last year bought a three-bedroom duplex a few blocks from his shop for $680,000, with a $535,000 mortgage.

The former street kid turned businessman said paying council and water rates and commercial rent for his shop was a juggle on top of his monthly mortgage repayments of $2,900.

Rate cuts would help him have more in the bank for unexpected home repairs like a cracked wall or a hot water problem. 

Even with rate cuts, Little Real Estate’s chief operating officer Rebecca Kerr said house price increases in Brisbane and the Gold Coast were likely to be more subdued compared with last year’s double-digit price increases, as the influx of interstate migration slowed

‘I’m just treading carefully because I’d rather have a bit of money in the bank than throw it at the mortgage,’ he said.

The Big Four banks are all expecting the Reserve Bank to cut interest rates on February 18, which be the first relief for borrowers since November 2020.

Westpac and the Commonwealth Bank are forecasting four cuts in 2025 that would see the RBA cash rate fall to 3.35 per cent from 4.35 per cent. 

Even with rate cuts, Little Real Estate’s chief operating officer Rebecca Kerr said house price increases in Brisbane and the Gold Coast were likely to be more subdued compared with last year’s double-digit price increases, as the influx of interstate migration slowed.

‘It will be more subdued,’ she told Daily Mail Australia.

‘They’ve had such a large increase – whilst they’re still getting migration from the southern states, it won’t be at the same level.’

Ms Kerr is forecasting 5 per cent house price rises for Sydney and Brisbane this year, as prices on the Gold Coast went up by 4 per cent, with fewer people working from home.

‘It will have an impact on some of the lifestyle areas as people look to move back towards the larger cities,’ she said.