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The
Propertybuyer

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Hear the latest weekly insights into the property market via podcast by Rich Harvey, CEO and founder of Propertybuyer.

 
Wed 22 Nov '23 with Rich Harvey Using Data & AI for Better Property Decisions
 
 
Thu 7 Sep '23 with Rich Harvey Northern Beaches Real Estate Outlook & Industry Trends
 
 
Thu 20 Jul '23 with Rich Harvey How Sales Agents Think
 
 
Thu 15 Jun '23 with Rich Harvey Auctions – The Inside Scoop
 
 
Fri 9 Jun '23 with Rich Harvey Financing Innovation & Building a Property Portfolio
 
 
Thu 25 May '23 with Amanda Jones Melbourne Property Insights
 

 

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Property advice, market updates & more

 

Latest cash rate decision good for home buyers

May 7, 2014 / Written by Rich Harvey

 

By Rich Harvey, CEO, propertybuyer.com.au

People on the fence about buying property in Australia may want to jump in while low interest rates continue - a chance that's been extended for at least one more month thanks to the Reserve Bank of Australia's (RBA) most recent official cash rate decision.

RBA Governor Glenn Stevens highlighted the current state of the economy when explaining the financial institution's decision to leave the official cash rate unchanged at 2.5 per cent for the ninth consecutive month.

While economic growth and employment numbers were subdued, the housing market once again acted as a bright spot for the economy. However, sluggish activity on other sectors led the RBA to decide that stable interest rates remain the most "prudent" course of action.

"We are not surprised by the RBA's choice to leave interest rates in a holding pattern. All eyes are now on the federal budget, which could have wide implications for Australians and the future direction of interest rates," said Malcolm Gunning, president of the Real Estate Institute of New South Wales.

"While the housing market remains firm, we watch with interest the delivery of the budget, the high Australian dollar and rising unemployment levels which could negatively influence consumer confidence."

The RBA decsision was also expected by the Housing Industry Association (HIA). Geordan Murray, an HIA economist, said the decision was in keeping with recent commentary from the RBA.

More important, however, is the fact that the decision will likely mean today's low interest rates will remain available for a while longer, providing home buyers the chance to obtain affordable financing.

Whether it's first home buyers seeking a starter house or more established families looking to upgrade to luxury real estate in Sydney, the current cash rate creates the opportunity.

The Propertybuyer
Podcast

 
Wed 22 Nov '23
with Rich Harvey
Using Data & AI for Better Property Decisions
 
 
Thu 7 Sep '23
with Rich Harvey
Northern Beaches Real Estate Outlook & Industry Trends
 
 
Thu 20 Jul '23
with Rich Harvey
How Sales Agents Think
 
 
Thu 15 Jun '23
with Rich Harvey
Auctions – The Inside Scoop
 
 
Fri 9 Jun '23
with Rich Harvey
Financing Innovation & Building a Property Portfolio
 
 
Thu 25 May '23
with Amanda Jones
Melbourne Property Insights
 

 

Listen to many more
podcasts on our
Podcasts page.