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

 
Fri 9 May '25 with Rich Harvey Melbourne’s Luxury Market Insights
 
 
Fri 2 May '25 with Rich Harvey Top Wealth Secrets & Mindsets for Financial Freedom
 
 
Fri 18 Apr '25 with Rich Harvey Trump’s Tariffs, Inflation, Interest rates and impact on Australian Real Estate
 
 
Fri 11 Apr '25 with Rich Harvey Zero to Nine Properties in 5 Years – How to Build a Sustainable Property Portfolio
 
 
Fri 14 Mar '25 with Rich Harvey Western Sydney - Outlook and Opportunities
 
 
Fri 21 Feb '25 with Rich Harvey How does property fit into your overall Financial plan?
 

 

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Official cash rate remains unchanged

February 5, 2014 / Written by Rich Harvey

 

By Rich Harvey, CEO, propertybuyer.com.au

Buying a house in Australia remains an affordable option following the Reserve Bank of Australia's (RBA) decision to leave the official cash rate unchanged at 2.5 per cent.

The February 4 announcement from the RBA board means ultra-low interest rates will remain obtainable into the foreseeable future - great news for anyone considering property investment in Australia.

"In Australia, information becoming available over the summer suggests slightly firmer consumer demand and foreshadows a solid expansion in housing construction," said RBA Governor Glenn Stevens in his statement regarding the cash rate announcement.

"Some indicators of business conditions and confidence have shown improvement. Monetary policy remains accommodative. Interest rates are very low and savers continue to look for higher returns in response to low rates on safe instruments."

Mr Stevens went on to point out that dwelling prices have also increased steadily over the past several months.

The combination of low interest rates and rising property values spells great news for buying investment property.

Interest rates likely to remain low

While there was much speculation concerning which ways interest rates would move leading up to the RBA announcement, many experts believe that rates will remain at historic lows for quite some time.

Housing Industry Association (HIA) Chief Economist Shane Garrett remarked in a recent press release that with no serious inflationary threat on the horizon, it is likely that low interest rates will "continue to guide the Australian dollar lower on foreign exchange markets," something Mr Garrett argues the country needs as it moves away from reliance on mining investment.

Mr Garrett's sentiment was echoed by Real Estate Institute of New South Wales (REINSW) President Malcolm Gunning, who said in a media release that there are many indications pointing to interest rates remaining steady for most of 2014.

The Propertybuyer
Podcast

 
Fri 9 May '25
with Rich Harvey
Melbourne’s Luxury Market Insights
 
 
Fri 2 May '25
with Rich Harvey
Top Wealth Secrets & Mindsets for Financial Freedom
 
 
Fri 18 Apr '25
with Rich Harvey
Trump’s Tariffs, Inflation, Interest rates and impact on Australian Real Estate
 
 
Fri 11 Apr '25
with Rich Harvey
Zero to Nine Properties in 5 Years – How to Build a Sustainable Property Portfolio
 
 
Fri 14 Mar '25
with Rich Harvey
Western Sydney - Outlook and Opportunities
 
 
Fri 21 Feb '25
with Rich Harvey
How does property fit into your overall Financial plan?
 

 

Listen to many more
podcasts on our
Podcasts page.