RESERVE BANK MAKES CASH RATE ANNOUNCEMENT

Spring has arrived and at its first meeting for the new season, the Reserve Bank of Australia has announced that it will keep the official cash rate on hold at 2.5 per cent for yet another month. The decision was widely expected by analysts and all indications are that the RBA will continue with its policy of keeping the cash rate at its current low level for the remainder of 2014 and possibly into 2015.

 

The winter property market has been unusually busy across all capital cities. Traditionally, auction numbers and clearance rates slow down during the cooler months, but this year, auction numbers have remained high and national clearance rates have remained at approximately 72%.

 

The increased winter activity in our property markets has occurred as a direct result of the low interest rate environment. Lenders are offering some of the most competitive rates on record and there are plenty of excellent loan options available for first home buyers, property investors and those looking to refinance.

It looks like we can all look forward to a very busy spring property market ahead! So why not get ready by talking to us now about your financing? If you’re an investor, we can help you assess your equity position so you’ll be ready to take advantage of the next opportunity. We can also help you with your loan options if you’re a first home buyer or simply looking to refinance, so please give us a call today!