Cash Rate Decision Good for Buyers
Investors will be pleased to know the Reserve Bank of Australia (RBA) has elected to keep the official cash rate at its historically low level of 2.5 per cent.
This means anyone considering purchasing a Surfers Paradise property may benefit from low interest rates on their home loans for longer.
Current property owners can enjoy making lower repayments on their mortgages while interest rates are low.
RBA Governor Glenn Stevens said the housing and equity sectors have strengthened in the last few months, which will provide good conditions for investors.
Confidence is returning to the economy, according to Loan Market director Mark De Martino, who said the property market as well as the retail sector are gaining momentum.
Keeping the cash rate low should contribute to economic growth and Mr De Martino said the outlook for the property sector is strong heading into the summer months.
If you're searching to buy real estate in Surfers Paradise, now is looking like a great time to do so.