Official Cash Rate Decision Good News For Real Estate in Surfers Paradise
The Reserve Bank of Australia's (RBA) official cash rate decision earlier this week will help to sustain the nation's housing recovery, with the institution choosing to retain the historically low level of 2.5 per cent for at least another month.
This could be great news for anyone considering Surfers Paradise property in the near future, with the opportunity to secure a great home loan deal for their property endeavours.
Housing Industry Association Economist Geordan Murray said the choice didn't come as a surprise, with many industry experts calling the retention of the cash rate due to the positive effects it's been having on the real estate industry.
"The RBA appears satisfied with the way households are responding to current policy settings and particularly encouraged by the improvements in leading indicators of activity in the residential building sector," said Mr Murray in a March 4 statement.
The official cash rate affects home loan lenders, with a reduced cash rate often translating into more competitive mortgages with lower interest rates – helping more people to gain the finances needed for property purchasing.
Coupled with the increasing number of new home sales occurring across the region, now could be the perfect time to get in contact with an expert real estate agent and begin looking into your options for real estate in Surfers Paradise.