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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.

 
Fri 29 Nov '24 with Rich Harvey How to Make Better Financial Decisions
 
 
Fri 15 Nov '24 with Rich Harvey How Will the Future of the Real Estate Industry Evolve?
 
 
Fri 1 Nov '24 with Rich Harvey Sydney’s Lower North Shore - Perspectives and Insights
 
 
Fri 20 Sep '24 with Rich Harvey How to Invest or Buy Commercial Property
 
 
Fri 6 Sep '24 with Rich Harvey Breaking Gender Barriers, Creating Empathy & Other Empowering Strategies
 
 
Fri 23 Aug '24 with Rich Harvey Where to invest for around $500k?
 

 

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Propertybuyer Blog
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

 
Fri 29 Nov '24
with Rich Harvey
How to Make Better Financial Decisions
 
 
Fri 15 Nov '24
with Rich Harvey
How Will the Future of the Real Estate Industry Evolve?
 
 
Fri 1 Nov '24
with Rich Harvey
Sydney’s Lower North Shore - Perspectives and Insights
 
 
Fri 20 Sep '24
with Rich Harvey
How to Invest or Buy Commercial Property
 
 
Fri 6 Sep '24
with Rich Harvey
Breaking Gender Barriers, Creating Empathy & Other Empowering Strategies
 
 
Fri 23 Aug '24
with Rich Harvey
Where to invest for around $500k?
 

 

Listen to many more
podcasts on our
Podcasts page.