Purchasing Main Beach real estate could be a great opportunity to take right now, with the latest data from the Australian Bureau of Statistics (ABS) indicating an improving inflation rate across the nation.
During the December quarter, the rate of inflation increased by 0.9 per cent and came to rest in the middle of the Reserve Bank of Australia’s (RBA) measure for growth, highlighting the increasing stability of Australia’s economy.
Senior economist for the Housing Industry Association Shane Garrett said there was no reason for the RBA to increase the cash rate in the coming months, after being dropped to historically low levels last year to help stimulate the nation’s finances.
“Today’s figures add further fuel to the notion that interest rates will remain at all-time lows for a considerable amount of time to come. It is encouraging to see the rate of housing cost a little below its medium term trend rate,” said Mr Garrett in a January 22 statement.
With interest rates expected to remain low for the foreseeable future, it could be a great opportunity for buyers considering real estate in Surfers Paradise to commit to the idea of purchasing property and securing a new home today.