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HIA: Interest Rates Remain Low Following Sustained Inflation Level

By Andrew Bell

Interest rates are expected to stay low heading into the remainder of 2014, which could be great news for anyone interested in buying or selling Main Beach real estate in the near future. 

Figures released by the Australian Bureau of Statistics earlier this week (April 23) showed the inflation rate for the nation at 2.9 per cent during March 2014, which remains within the Reserve Bank of Australia's target range for the economy – highlighting the success of the current financial climate. 

Housing Industry Association Senior Economist Shane Garrett said the current circumstances are great news for the recovering residential property market, especially the construction sector across the nation. 

"The latest inflation data will support the RBA's position of maintaining interest rates at record low levels. This is good news both for existing homeowners and for those considering purchasing their home," Mr Garrett in an April 23 statement. 

"A combination of low and stable interest rates is also welcome from those operating in the housing industry, particularly small businesses." 

With interest rates remaining steady, now could be the perfect time to consider buying or selling Surfers Paradise property. As the market begins to warm up, it could lead to a number of great experiences in the coming months. 

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